This might be topical as a lot of cheapies probably signed up for the AMEX offer last year where they were offering $400-$500 bonus Airpoints when you signed up to the American Express Airpoints Platinum Card.
I called up their 0800 number to cancel the card today as the $195 annual renewal fee was coming up. They asked the usual sort of questions, why was I leaving, do you know how many points you have earnt this year etc.etc. but I stuck to my guns and insisted I was going to cancel the card.
Their automated customer retention system instructed the consultant to offer me $500 Airpoints to stay with American Express. She said that this does vary from customer to customer, and it is likely dependent on how much money you spend on your card each month. All in all I thought this experience was worth sharing. Please note that you will still have to pay the annual account fee so I'm really only $300 up which is the same reward that ASB is offering at the moment with their True Rewards card.
However, if you're like me and want Airpoints for when the borders open up again and have a high average monthly spend, this trick could be worth trying even if you are happy with your Amex card.
Only $26k in total in the last 12 months. So just over 2k per month.