American Express Credit Cards in India – Should You Renew or Close? (Amex Platinum Travel, MRCC & Gold Charge)
“Its time for the hefty renewal fee for my Amex Card….. should I renew or close the card, or there is any work around ? ”
If you hold American Express credit cards in India—like the Platinum Travel Card, Gold Charge Card, or Membership Rewards Credit Card (MRCC)—this dilemma must feel familiar. The first-year fee often looks nominal or even waived (especially via referral links), but the renewal fee is steep: typically ₹5,000+ GST (₹5,300–₹5,900).
That’s when the real question arises: are the benefits worth paying this fee? Or should you shut down your Amex card?
Let’s break it down in detail.
Renewal Fees vs Benefits
- Amex Platinum Travel Credit Card: ~₹5,900 renewal fee (with GST).
- Amex Gold Charge Card: ~₹5,900 renewal fee (with GST).
- Amex MRCC (Membership Rewards Card): ~₹5,300 renewal fee (with GST).
While joining is cheap (or free with referrals), renewal charges are heavy. Unless you extract full value from rewards, lounge access, or milestone bonuses, paying the fee can hurt.
Retention Offers – The Old Story vs Today’s Reality
Earlier, Amex was very flexible:
- You could call customer care at renewal,
- Negotiate, and get the fee waived/discounted,
- Or receive a spend-based waiver (e.g., “spend X in 3 months, we’ll refund your fee”).
👉 But not anymore.
- Since early-2025, Amex has temporarily stopped issuing new credit cards in India (due to system updates/regulatory adjustments).
- Now, if you request cancellation, Amex instantly closes the card—no negotiations, no retention offers.
- In 90–99% cases, you must pay the full renewal fee if you want to continue.
So, forget the old trick of threatening closure to get a waiver—it doesn’t work anymore.
Thinking of Closing? Important Steps Before You Do
| Option | Conversion / Redemption Rate | Value per Point (Approx.) | Notes |
|---|---|---|---|
| Marriott Bonvoy Transfer | 1 Amex MR = 1 Marriott Bonvoy point | ₹0.30 – ₹1+ | Transfer 60,000 points at once → earn 5,000 bonus airline miles (25,000 miles total). Great for hotel stays. |
| Airline Transfers via Marriott | 3 Marriott points = 1 airline mile (most partners) | Varies | Useful when you need miles with international carriers; not a direct Amex→airline transfer. |
| Gift Card Redemptions (MRCC / Gold Charge only) |
Amazon Pay gift cards: ~₹0.33/point Taj Hotels stay vouchers: ~₹0.58/point |
₹0.33 – ₹0.58 | Good for quick, cash-like value or premium hotel stays. |
| Experiences via Amex App | Packages (e.g., Postcard Hotels: stay + meals) | ~₹1/point | Often the best value where available; check the app for current offers. |
| Instant Cancellation (no planning) | Statement credit only | ₹0.25/point | Lowest value — avoid unless urgent. |
| Point Pooling | All Amex cards share one MR pool | — | Keep at least one Amex card open to maintain and redeem your points. |
My Personal Strategy (from the video)
- I hold super-premium cards like HDFC Infinia, ICICI Emeralde Private, and Axis Atlas.
- Still, I plan to renew my Amex Platinum Travel Card because:
- It works for government/NPS contributions (choose via BillDesk payment gateway on payment page of NPS)
- 40,000 Milestone rewards points and Rs.10,000 worth Taj Giftcard (₹1.90 lakh and ₹4 lakh spends/year) give excellent valueback which I can use on spend like NPS, taxes, other government related expenses and even on fuel. My other credit cards do not give any reward points on these expenses.
- But my Amex MRCC and Gold Charge Card?
- I will likely not renew.
- Earlier, I used them for Amazon gift cards, but now my other premium cards cover that better.
Should You Renew or Close?
Ask yourself:
- Does the value of rewards & perks exceed ₹6,000 (renewal fee)?
- Do you use Amex enough for milestone benefits to kick in?
- Do you have alternative cards that give similar rewards at zero/low fees?
If the fee is justified → renew.
If not, close smartly (redeem points first).
Key Takeaways
- Renewal fee: ₹5,000+GST (steep for entry/mid-tier Amex cards).
- No more retention offers in India.
- Cancel only after redeeming points smartly.
- Keep at least one Amex active to preserve access to better redemption options.
- Amex MRCC or Amex Gold Charge card gives you access to their 24k and 18k redemption options. So, if you have any of these cards active, you can redeem your Amex points on these valuable redemption options.
- Decision = personal usage vs fee justification.
FAQs
Accordion Content
Yes, if you cross milestone spends (₹1.90L / ₹4L annually), you get excellent valueback in the form of 48,000 Reward Points and Rs.10,000 Taj Giftcard.
If no active card remains, points redemption value drop to ₹0.25/point as statement credit which you need to redeem within 30 days on your Amex card closue. Best to transfer to Marriott or redeem gift cards before closing or keep at least one Amex card active.
Not anymore. Currently, Amex instantly closes cards upon cancellation requests.
If you don’t hit reward milestones or redeem gift cards, closure may make sense. But keep one Amex card alive if you want higher redemption value.
