How does AMEX handle prorated annual fee refunds?

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Tubpbs
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Re: How does AMEX handle prorated annual fee refunds?

Postby Tubpbs » Thu Dec 03, 2015 9:47 pm

I have a friend who is a Sr. Marketing Manager at AMEX. What you're not understanding is that AMEX designs these offers for people who have never been an AMEX cardholder before and who have exceptional credit. They understand that people will not necessarily want to keep the Platinum, but they send these lucrative sign-up bonuses with the understanding that even if they take the signup bonus and run, they will ultimately keep an AMEX card in their wallet, whether it's a lower fee Green (charge) card or a no annual fee Everyday (credit) card. Their goal is to start a relationship with you, because AMEX, more than Visa and MasterCard, is about the "relationship". Trust me, AMEX knows what they're doing.

Which brings me back to my original post, since I do intend to get a Green or Everyday card once I get the Platinum's signup bonus, I wanted to know how AMEX will prorate the Platinum's annual fee.[/quote]

I believe you are mistaken or your friend is or you're not telling him your intentions clearly. When you sign up for the Platinum card and they give you a 100K signup bonus, it's because they want you to pay the annual fee on the Platinum card several years in a row and ideally forever. Obviously that will not always happen and obviously they would rather you change your card than close your account altogether, but you are mistaken in terms of your general outlook on the situation. The signup process and life cycle of the account that you're describing is very far from their desired goal when giving someone that bonus.

If your friend is indeed an employee of Amex and especially a senior marketing rep, he or she does not understand their job in its entirety if the information you represented above is what was communicated to you.

The answer to your annual fee refund is that anything is possible but plan on paying $450 for the annual fee if you want the card for between 1 and 364 days.
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Vermonster
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Re: How does AMEX handle prorated annual fee refunds?

Postby Vermonster » Thu Dec 03, 2015 10:29 pm

wiivile wrote:I have a friend who is a Sr. Marketing Manager at AMEX. What you're not understanding is that AMEX designs these offers for people who have never been an AMEX cardholder before and who have exceptional credit. They understand that people will not necessarily want to keep the Platinum, but they send these lucrative sign-up bonuses with the understanding that even if they take the signup bonus and run, they will ultimately keep an AMEX card in their wallet, whether it's a lower fee Green (charge) card or a no annual fee Everyday (credit) card. Their goal is to start a relationship with you, because AMEX, more than Visa and MasterCard, is about the "relationship". Trust me, AMEX knows what they're doing.

Which brings me back to my original post, since I do intend to get a Green or Everyday card once I get the Platinum's signup bonus, I wanted to know how AMEX will prorate the Platinum's annual fee.


I'm calling shenanigans. If that were the case they would offer the same bonus to potential customers of any card. My wife is being hounded by Amex with RPG and BCP offers, but neither come close to an offer like what you got. Besides the Plat has the same underwriting as the green, so the plat requires no better credit. Also, there is no way to turn a Plat into an ED, or EDP, or BCP. Your statements make it sound like Amex is happily throwing 100k signups to everyone just so they consider apping. I don't think that is the image Amex is trying to give off.
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Re: How does AMEX handle prorated annual fee refunds?

Postby kdm31091 » Fri Dec 04, 2015 8:30 am

I don't work for Amex so I don't know, but your friend sounds a little off base to me. Amex doesn't want people to sign up for the Platinum, take the bonus, get most of their AF back, and run. Why would they want people to do that? It's a lose-lose for amex. Yes, I see the point about "keeping an amex in the wallet" longer term, but the Platinum card doesn't even convert to many things, and most (if not all) of them still have fees.

Amex may care about relationship, but by abusing their cards for bonuses, the consumer is showing that they don't really care. Again, one has to do what they feel is best, but amex and every other lender are not stupid and have cracked down on handing out bonuses for a reason.

travisrauh
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Re: How does AMEX handle prorated annual fee refunds?

Postby travisrauh » Fri Dec 04, 2015 10:54 pm

The annual fee will be pro-rated by month.
I am an employee of American Express. All posts are those of my own and do not reflect the actions or opinions of AXP. While all efforts are made to ensure accuracy in my posts, for official statements or responses, please consult with @AskAmex on Twitter or dial the number on the back of your card.

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Re: How does AMEX handle prorated annual fee refunds?

Postby CardAttack » Sat Dec 05, 2015 2:11 pm

I got a prorated AF refund on a recent PC from a delta Sky miles Platinum to a Hilton Honors. Not my first choice in cards, but I didn't want an AF card.

Tubpbs
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Re: How does AMEX handle prorated annual fee refunds?

Postby Tubpbs » Sat Dec 05, 2015 5:52 pm

CardAttack wrote:I got a prorated AF refund on a recent PC from a delta Sky miles Platinum to a Hilton Honors. Not my first choice in cards, but I didn't want an AF card.


You changed a Delta co-branded card to a Hilton without and issue?
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Re: How does AMEX handle prorated annual fee refunds?

Postby CardAttack » Sat Dec 05, 2015 6:32 pm

:rant:
Tubpbs wrote:
CardAttack wrote:I got a prorated AF refund on a recent PC from a delta Sky miles Platinum to a Hilton Honors. Not my first choice in cards, but I didn't want an AF card.


You changed a Delta co-branded card to a Hilton without and issue?


I had a Delta Skymiles Platinum for years but decided this year it didn't justify the high AF. I called Amex to find out the PC options. The only one without an AF was the Hilton Honors, so I took it. I had no problems changing.
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CarefulBuilder14
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Re: How does AMEX handle prorated annual fee refunds?

Postby CarefulBuilder14 » Sat Dec 05, 2015 9:06 pm

CardAttack wrote::rant:
Tubpbs wrote:
CardAttack wrote:I got a prorated AF refund on a recent PC from a delta Sky miles Platinum to a Hilton Honors. Not my first choice in cards, but I didn't want an AF card.


You changed a Delta co-branded card to a Hilton without and issue?


I had a Delta Skymiles Platinum for years but decided this year it didn't justify the high AF. I called Amex to find out the PC options. The only one without an AF was the Hilton Honors, so I took it. I had no problems changing.

I imagine Amex looks a lot more favorably on customers with old accounts with some history (and paid AFs) behind them than it does on people with new accounts who "change their mind" about cards immediately after sucking them dry of most of their value for the next 11 months. Amex would be interested in keeping you as a customer after Delta Platinum had lost its value since you don't play games.
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Re: How does AMEX handle prorated annual fee refunds?

Postby Tubpbs » Sun Dec 06, 2015 3:15 am

My girlfriend has the Gold Delta Skymiles. She has had it for at least 3-4 years. It really has no usefulness for her / us at this point but it is her every day spend card and she has a very nice limit on it. She's not ready yet, but when she is, it's nice to know she'll be able to either go to a product with no annual fee OR choose another card with a fee that is more useful for her. That's good news.
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CardAttack
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Re: How does AMEX handle prorated annual fee refunds?

Postby CardAttack » Sun Dec 06, 2015 9:52 am

Tubpbs wrote:My girlfriend has the Gold Delta Skymiles. She has had it for at least 3-4 years. It really has no usefulness for her / us at this point but it is her every day spend card and she has a very nice limit on it. She's not ready yet, but when she is, it's nice to know she'll be able to either go to a product with no annual fee OR choose another card with a fee that is more useful for her. That's good news.


They'll keep everything the same with a PC. My new Hilton cards says it's been open snice 1986, which is when I got my first Amex. That's my oldest card, so I want to make sure I keep that intact.

I hadn't used my companion pass this year, so I had to give that up I the PC. That's fine, since I wasn't planning any air travel this year. Not sure what would happen if you've already used the companion pass.
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