To downgrade Amex Platinum, call customer service at 1 (800) 528-4800. There is no option to downgrade online or through the mail. When you downgrade Amex Platinum, be aware that you cannot downgrade from a charge card such as Amex Platinum to an Amex credit card that allows you to carry a balance without restriction. That means your only options are to downgrade to either the Gold Card or the Green Card.
After the downgrade is approved, your existing Platinum card will temporarily have all the features and benefits of the card you downgraded to, so you can use it until the new card arrives, usually in about 7-10 business days. You will be able to keep your card number after you downgrade Amex Platinum, but the downgraded card will come with a different expiration date and 3-digit security code. If you’ve kept the card open for at least 12 months, any unused rewards will transfer to the new card. Regardless of how long you’ve had the card open, all APRs will stay the same.
You’ll receive a pro-rated refund on your Platinum card annual fee based on the number of months in the year you’ve had the card. You will then be charged a pro-rated annual fee on the downgraded card. You won’t be eligible for an initial bonus for either the Gold Card or Green Card, however.
American Express uses a soft pull for downgrades, so there’s no effect on your credit score.
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