American Express Platinum Annual Fee Question

Discussion in 'General Discussion | Credit Cards' started by gconnery, Dec 11, 2013.  |  Print Topic

  1. gconnery Silver Member

    With most cards when the annual fee comes around you pay it. Maybe if you cancel the card immediately you might be able to get it refunded.

    But with American Express I think they will prorate the fee if you keep the card only part of the next year.

    Also in play is the offer I got for an additional $200 in AA/US Air fees after 3/22 (about when my annual fee of $475 for this MB Platinum hits).

    So I could cancel in January or early February after getting my annual $200 in gift cards out. Pay no additional annual fee.

    Or I could cancel in April/May after getting yet another $200 out, presumably in gift cards though we don't know for sure what will work of course. But I'll pay some pro-rated portion of the $475 annual fee. If I keep the card for say 2 months, do I pay only $79? Anybody know? Yes I have other Amex personal cards (Green, SPG).

    I have a Business Amex Platinum I'll be keeping, and in the long run this card prevents me from getting the bonus on the Amex PRG if another one comes around, so I want to close it before too long regardless.

    Seems like the easiest thing to do is close it regardless but unsure how the math works out.
    • Original Member

    tondoleo Gold Member


    You may want to consider leveraging the fact your are a good customer paying fees on multiple cards. Suggest to the retention person the cost of the fees for the cards and the lack of AA lounges make the AMEX Plat card a financial burden. You may achieve financial relief. How do I know this? A couple of years ago I made a similar request. We had the Amex Premier Gold, Platinum and SPG. The rep offered points but I wanted reductions in fees which they ultimately did by knocking $ 100 of the Gold Card. This worked out well for me.

    Good luck.
    anileze likes this.
  2. rob11 New Member

    I tried my best and was told that the best that I could expect was only ONE retention bonus, and never a fee waiver. They said it was never done. That I doubt.
  3. gconnery Silver Member

    I'm wondering more about the prorated part. If I have an Amex Card and I cancel it after X months, do I get a refund for (12 - x) / 12ths of the fee?
  4. jmorgans Active Member

    I'm in the same boat except I didn't get the extra $200 offer. I was told by Amex that the entire fee is refunded if you cancel within 60 days of your annual fee billing. After that it is a prorated amount. Another option is downgrade to gold/green. Same rule applies if you do it within 60 days.

    I took them up on an extended payment plan offer for 10000 points. Will likely use the airline fee reimbursement in January and then either cancel or downgrade.
  5. wannaflyaway Member

    What kind of bonus/offer did you get?
  6. de52king Active Member

    Where were you able to sign up for the extended payment option for 10k mr points?
  7. gconnery Silver Member

    Yeah, I put that extended payment link on my calendar for like 6 months and checked back periodically to see if I was offered anything. Never hit on any of my cards. Didn't try calling though I did try SM once but that turned out to be pointless. Thanks for the 60 days info.

    Not sure what I'm going to do. Don't want to be seen as a bad customer. Taking $200 in January for airline gift cards, then $200 in March, wait till it posts and cancel? Might seem like bad form. I'd like to maintain a good long-term relationship with Amex. I have a number of their cards and while I do spend a lot on my SPG, none of the others see much action really. Have to think about it.
    satman40 likes this.
  8. AlohaMiles Member

    I'm glad to hear about the 60 day info as I am in the same boat as a few of you. I was offered $100 credit for the AA/US lounge situation which I am not very happy about, but I am also waiting for the 10k MR points for the pay over time deal so I'm hoping they post soon so its within the 60 days after Jan 10th...
  9. jmorgans Active Member

    I received my bill after conversion from platinum to green, and there was a prorated, not full refund. I called and was credited the difference as a courtesy, however I was told that the 60 day rule apparently does not exist. The first rep was misinformed. Just wanted to correct the erroneous information I posted.
  10. gconnery Silver Member

    I believe the 60 day full refund of annual fee full refund is correct:

    http://wiki.dansdeals.com/Cancelling_AmEx_Platinum

    However, as in all things YMMV and different reps know different things and say it like its gospel. If they declined to do it I'd HUCB.
  11. gconnery Silver Member

    BTW, I decided not to screw around and after making sure I got my $200 fee credit from the Amex MB I simply cancelled it before the new fee came due. Yes I could have waited until March and then put another $200 in spend on it, and then cancelled and tried to get my annual fee reversed, but it didn't seem worth the trouble especially now the Amex is making it more difficult to get your airline credits (the best workaround being the United Gift Registry thing which I wouldn't have been able to use in this case given it was compensation for American clubs going away). Plus I went for the Citi Executive card and a) will have enough trouble making spend and b) already have AC access with that for the next year.
  12. satman40 Silver Member

    I did 10k at the MB Dealer, and he told me that was the limit, wrote a check for the rest.

    Sure would hate to pay the monthly lease fee.

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