If you have the Plenti Credit Card from AMEX, enjoy it while you can!
American Express is mailing cardholders a notice that they will cancel all AMEX Plenti cards on February 16, 2018. It’s always sad to see our credit card options shrink, but I’ll show you why this is extra rotten news for current cardholders!
Here’s what we know, and how this news affects you.
Plenti Credit Card from AMEX Disappearing Soon
Link: AMEX Plenti Points
American Express introduced Plenti points less than 3 years ago. And it looks like the program is already on the decline!
You can earn Plenti points by shopping at partner merchants, through their online shopping portal, and from special promotions. Or, by using the AMEX Plenti credit card.
But AMEX stopped accepting applications for the card a couple months ago. And now, they’re discontinuing it altogether!
Here’s what you need to know:
- American Express will cancel all AMEX Plenti cards on February 16, 2017
- At this time, there is NO option to product change the card to a different AMEX credit card (yuck!)
- You will still have access to your Plenti points after your AMEX Plenti card is closed through Plenti.com
What Does This Mean for You?
The Plenti points program is NOT being discontinued at the moment. But this is certainly not a positive sign. So if you collect Plenti points, it might be a good idea to start spending them! You don’t want to be left with a stash of useless points.
I also do NOT like that American Express is cancelling all AMEX Plenti cards instead of giving folks the option to product change. That’s because cancelled cards can negatively affect your credit score.
Plus, if you pay certain recurring bills on your AMEX Plenti card, make sure you switch those bills over to another card before the cancellation date!
On February 16, 2018, American Express is cancelling all AMEX Plenti credit cards. You’ll still have access to your Plenti points online, but your card will be deactivated. And AMEX is NOT giving folks an opportunity to product change to a different AMEX card at this time.
If you have a reservoir of Plenti points, I recommend looking for ways to use them up! Because it looks like the Plenti program is weakening.
Does this news from AMEX affect you?