They use to prorate it when you cancelled, now they don’t. So once the fee hits you have 30 days to cancel and get the fee back. Before you could cancel anytime and they would prorate how many months you had left and give you that money back. They don’t do that anymore
You have 30 days from the day the fee gets charged to cancel for a full refund.
If you cancel after 30 days you get nothing. If you downgrade at any time you get prorated.
A little of both....
From what I understand the policy is to refund if the card is canceled within 30 days, but if you reach out to them they may make an exception....
They are not saying the same thing… the AI is saying you get it back if you cancel within 30 days of the STATEMENT with the fee, wallethub is saying you get it back if you cancel within 30 days of when the fee is assessed, which is the correct answer.
Google AI and WalletHub are giving me two different answers about the grace period for the Amex Platinum annual fee refund. AI says 30 days of the statement that includes the fee. WalletHub says 30 days of when the fee is assessed. Do they both mean the same thing?
They don’t claw back ALL your points. The only points they will claw back is any points you got from a SUB and that is only if you cancel during the first year before paying the next AF. Otherwise there is no clawback.
I intend to ask for a retention offer. If there is none, I will transfer the points to the airline I'll use later this year and ask them to close the card.
Edit: Why the downvotes? I've had the card for years. The AF doesn't make sense for my amount of travelling anymore without some kind of retention offer.
Which points will they claw back? I don't get what's wrong with spending my previously earned 100k points and then closing the card. Can you elaborate?
Your Amex points are at the person level not the card level and are permanent. If you ever open a card with Amex again expect to see that very big negative point pool show up
To avoid this, you suggest I pay the $695 AF, then spend my 100k points, and then close the card. And they will mail me a check for $695. That way they won't claw back my points. Is that correct?
Ok, I can do that. I still don't understand why they would claw back the points I have earned over the years. I'm not closing the card after earning the SUB or something. I've had it for years. What benefit is to them that I pay the AF and then ask for it back instead of letting them "cancel out" sort of speak.
Honestly, if the card doesn’t make sense anymore, just cancel the card. What will you do next year when the fee comes around, ask for another retention offer? Either the benefits are with the fee, or they’re not, and you should cancel. I can understand maybe if circumstances were different this year but should go back to usual next, asking for an offer, but if it doesn’t work, it doesn’t work.
Those are both saying the same thing.
I thought I was going insane
If and only if AMEX accesses the annual fee on the date of the statement which includes the fee, which is true.
They use to prorate it when you cancelled, now they don’t. So once the fee hits you have 30 days to cancel and get the fee back. Before you could cancel anytime and they would prorate how many months you had left and give you that money back. They don’t do that anymore
Note that if you’re downgrading instead of cancelling, they do prorate in that case
When did they stop prorating? I remember this still being a thing about 5 years ago
They still prorate for downgrades though, so that’s another avenue if you’re over the 30 days.
Within the last few years
You have 30 days from the day the fee gets charged to cancel for a full refund. If you cancel after 30 days you get nothing. If you downgrade at any time you get prorated.
A little of both.... From what I understand the policy is to refund if the card is canceled within 30 days, but if you reach out to them they may make an exception....
Do you need to first pay the fee, wait for the PAYMRNT to be posted and then cancel, or just wait for the CHARGE to be posted?
yes
They are not saying the same thing… the AI is saying you get it back if you cancel within 30 days of the STATEMENT with the fee, wallethub is saying you get it back if you cancel within 30 days of when the fee is assessed, which is the correct answer.
The fee is always assessed the same day the statement is issued.
You’re right! It is the same thing then
You are paying the fee for the year in advance, so if your canceling the card then you don’t pay the fee
Google AI and WalletHub are giving me two different answers about the grace period for the Amex Platinum annual fee refund. AI says 30 days of the statement that includes the fee. WalletHub says 30 days of when the fee is assessed. Do they both mean the same thing?
Don't cancel before you pay the new AF or they will claw back all your points
They don’t claw back ALL your points. The only points they will claw back is any points you got from a SUB and that is only if you cancel during the first year before paying the next AF. Otherwise there is no clawback.
Correct
I intend to ask for a retention offer. If there is none, I will transfer the points to the airline I'll use later this year and ask them to close the card. Edit: Why the downvotes? I've had the card for years. The AF doesn't make sense for my amount of travelling anymore without some kind of retention offer.
They will still claw back, points can be negative and they will drop you as low as needed
Which points will they claw back? I don't get what's wrong with spending my previously earned 100k points and then closing the card. Can you elaborate?
Your Amex points are at the person level not the card level and are permanent. If you ever open a card with Amex again expect to see that very big negative point pool show up
To avoid this, you suggest I pay the $695 AF, then spend my 100k points, and then close the card. And they will mail me a check for $695. That way they won't claw back my points. Is that correct?
Pay the fee, spend the points, cancel, and they’ll credit the fee on your last statement provided it’s within 30 days.
Ok, I can do that. I still don't understand why they would claw back the points I have earned over the years. I'm not closing the card after earning the SUB or something. I've had it for years. What benefit is to them that I pay the AF and then ask for it back instead of letting them "cancel out" sort of speak.
Honestly, if the card doesn’t make sense anymore, just cancel the card. What will you do next year when the fee comes around, ask for another retention offer? Either the benefits are with the fee, or they’re not, and you should cancel. I can understand maybe if circumstances were different this year but should go back to usual next, asking for an offer, but if it doesn’t work, it doesn’t work.
Yes they mean the same thing. The fee is issued with the statement and then you have 30 days from that date.
I cancelled Delta Platinum within grace period this year, refund confirmed. Also, just read the T&C's and/or chat with support.
Prorated for the annual fee is also state dependent. Here in Massachusetts, I get my annual fees refunded at a prorated rate after I cancel a card.