How does AMEX handle prorated annual fee refunds?

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

Postby rockyrock » Mon Dec 07, 2015 9:11 am

travisrauh wrote:The annual fee will be pro-rated by month.


Hi Travis,

Does that include the first years membership or just after renewal?

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

Postby travisrauh » Tue Dec 08, 2015 9:00 pm

rockyrock wrote:
travisrauh wrote:The annual fee will be pro-rated by month.


Hi Travis,

Does that include the first years membership or just after renewal?

Thanks


I'm not sure I understand your question. Where the annual fee is pre-paid (charged at the beginning of your anniversary year), you'll receive the refund for unused months that you have already been billed for. You will not have any period you've already used refunded.
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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CarefulBuilder14
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Re: How does AMEX handle prorated annual fee refunds?

Postby CarefulBuilder14 » Tue Dec 08, 2015 10:15 pm

travisrauh wrote:
rockyrock wrote:
travisrauh wrote:The annual fee will be pro-rated by month.


Hi Travis,

Does that include the first years membership or just after renewal?

Thanks


I'm not sure I understand your question. Where the annual fee is pre-paid (charged at the beginning of your anniversary year), you'll receive the refund for unused months that you have already been billed for. You will not have any period you've already used refunded.

Just how unusual is it for a person to be denied a PC request (that is, to find there is no PC offer available)?

I've heard of some people going for Platinum, then later wanting to PC (either due to genuinely not finding the card useful or just shameless bonus hunting) only to be told that they had no PC options - that they had to either keep the Platinum or close the account altogether.

My interest is that I'm on the fence about keeping EDP after the Costco switch...and I'm curious if the option to PC to ED is something that's pretty much always there...or something that is likely come and go, that I shouldn't expect to be there whenever I want.

I know you obviously can't say anything specific to my individual case...I'm more curious how common PC request refusals are in general.
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travisrauh
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Re: How does AMEX handle prorated annual fee refunds?

Postby travisrauh » Tue Dec 08, 2015 10:49 pm

There really aren't cases of product change refusals. Eligibility just depends on the product type - only exception are new accounts under 13mo. You shouldn't have any issue downgrading from EDP to ED. The only time a refusal may happen is dissatisfactory account history in which case the account would likely be closed.
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.

kdm31091
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Re: How does AMEX handle prorated annual fee refunds?

Postby kdm31091 » Wed Dec 09, 2015 7:55 am

Actually, while I wouldn't use the term "refusal" per se, Amex has indeed told people certain PCs weren't possible in the past. It happened to people with high AF charge cards who wanted to downgrade. Sometimes they are simply told that it's not available, so basically they either have to pay the fee or cancel the card.

Remember, there is no guarantee of a PC/downgrade/upgrade/etc being available nor is it a right that you have. When you apply for a product, you're applying for that product. They don't have to let you change it to anything else, nor do they have to let you downgrade to avoid fees. Amex is often all over the map in terms of which PCs are allowed to which people. Do some searching and you'll see what I mean.

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

Postby rockyrock » Wed Dec 09, 2015 9:04 am

travisrauh wrote:
rockyrock wrote:
travisrauh wrote:The annual fee will be pro-rated by month.


Hi Travis,

Does that include the first years membership or just after renewal?

Thanks


I'm not sure I understand your question. Where the annual fee is pre-paid (charged at the beginning of your anniversary year), you'll receive the refund for unused months that you have already been billed for. You will not have any period you've already used refunded.


Okay, I understand that part. Does this apply to the first year of membership? Two months in I can decide I want out and get 10 months of my AF refunded?
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travisrauh
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Re: How does AMEX handle prorated annual fee refunds?

Postby travisrauh » Wed Dec 09, 2015 11:02 am

Sorry, I had misunderstood. Yes, you would still receive your pro-rated refund.
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.

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

Postby wiivile » Thu Dec 10, 2015 9:34 am

Anyways, I was approved for the Platinum on November 29 and activated the card on December 1. Still haven't been charged the annual fee. Anyone know when that will be charged? I hear I can get the whole annual fee back if I cancel within 30 days- is that within 30 days of the AF or 30 days of getting the card? I decided I don't use lounges enough to justify the $450 AF.
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Vermonster
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Re: How does AMEX handle prorated annual fee refunds?

Postby Vermonster » Thu Dec 10, 2015 10:40 am

wiivile wrote:Anyways, I was approved for the Platinum on November 29 and activated the card on December 1. Still haven't been charged the annual fee. Anyone know when that will be charged? I hear I can get the whole annual fee back if I cancel within 30 days- is that within 30 days of the AF or 30 days of getting the card? I decided I don't use lounges enough to justify the $450 AF.


On my BCP the fee was added to the first statement. It never showed as a charge online and never reduced my credit line. It just kind of appeared on the first statement.
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