Sell Amex Platinum Points Before Cancelling Your Card
The Amex Platinum Card's $799 annual fee is Canada's highest. If you're not getting full value, learn how to convert your accumulated Membership Rewards points to cash before cancelling—and maximize your return on years of premium card membership.
Amex Platinum Points Value at a Glance
$0.011-0.0155
CAD per point
$1,100-1,550
Cash value
30-90 Days
After cancellation
The $799 Question: Is Your Amex Platinum Worth Keeping?
The American Express Platinum Card charges Canada's highest annual fee at $799 per year. For many cardholders, this premium was justified by frequent travel, airport lounge access, and luxury perks. But circumstances change—reduced travel, shifting priorities, or simply wanting to consolidate cards.
If you're questioning whether to keep paying $799 annually, there's good news: you don't have to lose the points you've accumulated over months or years of spending. By selling your Membership Rewards points before cancelling, you can recoup significant cash value.
Amex Platinum Canada 2025 Benefits Breakdown
Annual Travel Credit
Use for flights, hotels booked through Amex Travel
$200
Dining Credit
Select Canadian restaurants
$200
Centurion Lounge Access
Premium airport lounges worldwide
~$500+
Marriott Gold + Hilton Gold Status
Hotel upgrades, late checkout
~$200+
Travel Insurance Suite
Trip cancellation, medical, baggage
~$300+
Break-even math: If you use the travel credit ($200), dining credit ($200), and visit lounges 4+ times ($400+), you're covering the fee. But if travel is rare, you may only capture $200-400 in value from a $799 card.
When Selling Your Amex Platinum Points Makes Sense
Your travel frequency has dropped
Post-pandemic lifestyle changes, family obligations, or career shifts mean fewer trips. Lounge access and hotel status have diminishing returns if you're only flying 2-3 times per year.
You're in your first year and want out
Many sign up for the welcome bonus (often 70,000-100,000 points) but realize the card doesn't fit their lifestyle. Sell the bonus points and cancel before the second year's fee—you've earned cash, not lost it.
You prefer domestic travel
The Platinum's strength is international luxury travel. If you're primarily flying within Canada on short routes, Aeroplan points earned from lower-fee cards may serve you better.
Cash flow matters more than travel
Paying down debt, building an emergency fund, or investing the cash may deliver better returns than speculative travel redemptions. 100,000 points = $1,100-1,550 in your pocket today.
You're consolidating cards
Managing multiple premium cards with overlapping benefits wastes money. Selling your Platinum points, downgrading to Gold, or moving to a no-fee option simplifies finances.
Amex Platinum Cancellation Timeline: Protect Your Points
Critical Warning
Membership Rewards points expire 30-90 days after card cancellation (terms vary). Always transfer or sell your points BEFORE cancelling to guarantee you don't lose them. Once expired, points cannot be recovered.
The Safe Cancellation Process
Use Your Credits First (Week 1)
Maximize your $200 travel credit and $200 dining credit before cancelling. These don't roll over and are lost immediately upon cancellation. Book a hotel, flight, or dinner to capture this value.
Get a Quote for Your Points (Week 1-2)
Contact Mega Miles Broker with your point balance. We'll provide a cash offer within 24 hours so you know exactly what you'll receive before proceeding.
Transfer Your Points (Week 2)
Accept the quote and transfer your MR points to the designated Aeroplan account. Transfers are instant. You retain full card benefits during this process.
Receive Payment (Week 2-3)
Once we confirm the points, payment is sent via Interac e-Transfer within 24 hours. Your cash is secure before you cancel anything.
Cancel or Downgrade (Week 3-4)
Now you can safely cancel your Platinum Card (or downgrade to Gold/Cobalt). Your points are already converted to cash, and you've used your credits. Zero value lost.
Downgrade vs. Cancel: Your Options
You don't have to completely exit the Amex ecosystem. Downgrading preserves your account history and keeps you eligible for future bonuses on other cards.
Downgrade to Amex Gold ($250/year)
- Keep earning MR points
- $100 annual travel credit
- Existing points preserved
- $549/year savings
Best for occasional travelers who still want MR flexibility.
Sell Points & Cancel
- Immediate cash: $0.011-0.0155/point
- Full $799 annual fee saved
- No commitment to future travel
- Clean break from premium cards
Best for those leaving the premium card space entirely.
Real Scenarios: What Your Points Are Worth
Scenario 1: First-Year Cancellation
You signed up for the 80,000 point welcome bonus, earned another 20,000 from spending, but realize the card doesn't fit your lifestyle.
100,000 points × $0.013 = $1,300 cash
Plus you used $400 in credits = $1,700 total value extracted from first year. You paid $799, netting $901 profit.
Scenario 2: Long-Time Cardholder Exit
You've held the Platinum for 5 years and accumulated 350,000 points but travel has decreased significantly.
350,000 points × $0.014 = $4,900 cash
Rather than letting points expire or forcing travel you don't want, convert to cash that can be invested, saved, or spent freely.
Scenario 3: Business Cardholder Liquidation
Your Amex Business Platinum has 750,000 MR points. You're closing the business or want cash for tax planning.
750,000 points × $0.015 = $11,250 cash
Large balances command premium rates. This cash can offset business wind-down costs or fund new ventures.
Amex Platinum Points FAQ
Have more questions? Check our comprehensive FAQ page for answers about all loyalty programs.