Here’s a quick info that a lot of beginner and intermediate churners do not consider.
As most of you know if you cancel an Amex card, you do not receive a prorated refund. But a lot of folks forget that Amex still offers prorated refund when you downgrade to another card.
This means it is often more profitable to not cancel your PRG and Platinum cards right away. Instead, you hold cards till January, enjoy the airline credit, downgrade to another card, and then cancel the card if you like. Note that downgraded business Green may or may not give 5k on 1st purchase anymore.
Here is a basic example: PRG has an annual fee of $195 but provides $100 credit per calendar year. If your downgrade between between 30-60 days of AF being charged then you’ll only be charged for 2 months of PRG i.e. 195/12*2 = $32.5