Last year, I shared my Lucrative Amex Platinum Retention Offer 50,000 Membership Rewards points or a $500 statement credit if I agreed to keep the card. I opted to take the 50,000 points and keep the card for a year.

Fast forward and my $550 annual fee just posted for the Platinum Card again so I called up the retention line at 800-452-3945 where I was prompted to enter my 15 digit card number. I was able to speak to an agent who went over the card benefits including the new $200 Amex Travel Credit for Platinum Cardholders.

I decided to ask about a retention offer this year and after the agent looked in the computer she said I had already received an offer last year which I accepted and that it’s American Express policy they won’t offer retention offers on the same product for two consecutive years.

Despite not having any upcoming travel plans and the American Express Centurion lounges being closed, there was no retention offer or bonus points that the system was going to offer since I received one last year.

However, the agent did mention I could pay the annual fee using 55,000 Membership Rewards points for a 1 cent/point redemption. At first I thought that was a crazy idea, but then I realized as I had several hundred thousand American Express points which I’ve never used, I would accept this option and part with some my points in order to keep the card another year.

Having renewed for another year, I’m hopeful that when the annual fee comes up next year on this card, I’ll then be offered another retention offer at that time.

Have you ever used Membership Rewards points to pay your Platinum Card annual fee? Feel free to share your thoughts in the comments below if you’d consider doing this.