AMEX Annual Fee

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corys401
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AMEX Annual Fee

Postby corys401 » Wed Jun 15, 2016 11:46 am

Just got notice at the bottom of my statement that starting Sep 1... Annual fees will no longer be refunded!


AMEXPlatino86
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Re: AMEX Annual Fee

Postby AMEXPlatino86 » Wed Jun 15, 2016 12:17 pm

Yeah it was changed to keep "boogers" from getting the cards stealing the points/benefits and then trying to dump the card while they get a pro-rated refund for the months that they didn't use. So basically they have to pay to use the cards.

Once again it's another benefits gone for those that actually want to get rid of the card after a few years rather than those that want to get rid of it after a few weeks/months.
Wells Fargo Platinum 2.100 (5/2011-cld 7/12/14)
AmEx Platinum (6/12)
Barclays Apple (6/12)
AMEX Gold Delta (5/13)
Marriott Rewards (7/14)

My credit score :cool:
EQ: unknown
EX: 776
TU: 774

corys401
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Re: AMEX Annual Fee

Postby corys401 » Wed Jun 15, 2016 4:01 pm

AMEXPlatino86 wrote:Yeah it was changed to keep "boogers" from getting the cards stealing the points/benefits and then trying to dump the card while they get a pro-rated refund for the months that they didn't use. So basically they have to pay to use the cards.

Once again it's another benefits gone for those that actually want to get rid of the card after a few years rather than those that want to get rid of it after a few weeks/months.



Can't fault them, can you? Haha

Think of much money they were losing for Platinum Cards! Several 10's of thousands of points, some people double dipping on the $200 airline credit, and then getting their AF prorated.

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CarefulBuilder14
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Re: AMEX Annual Fee

Postby CarefulBuilder14 » Wed Jun 15, 2016 4:04 pm

corys401 wrote:
AMEXPlatino86 wrote:Yeah it was changed to keep "boogers" from getting the cards stealing the points/benefits and then trying to dump the card while they get a pro-rated refund for the months that they didn't use. So basically they have to pay to use the cards.

Once again it's another benefits gone for those that actually want to get rid of the card after a few years rather than those that want to get rid of it after a few weeks/months.



Can't fault them, can you? Haha

Think of much money they were losing for Platinum Cards! Several 10's of thousands of points, some people double dipping on the $200 airline credit, and then getting their AF prorated.

I think Nixon did that on a regular Platinum, cancelled it, and was approved for MB Platinum the next day.

Amex policies can certainly lead to unorthodox behavior...
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

AMEXPlatino86
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Re: AMEX Annual Fee

Postby AMEXPlatino86 » Wed Jun 15, 2016 11:35 pm

Can't fault them, can you? Haha

Think of much money they were losing for Platinum Cards! Several 10's of thousands of points, some people double dipping on the $200 airline credit, and then getting their AF prorated.[/quote]


Believe me I don't even want to think about how many points they have lost out on ( at this point I would think it's in the millions). Gluttony and gaming has reared its ugly head at this point so time to shut it down on them. Once again a lot of them over on MF are going into panic mode because they don't want to be blacklisted for churning a card but now won't get any of the $450 that they spent back any time this year. Gotcha!!! ;)
Wells Fargo Platinum 2.100 (5/2011-cld 7/12/14)
AmEx Platinum (6/12)
Barclays Apple (6/12)
AMEX Gold Delta (5/13)
Marriott Rewards (7/14)

My credit score :cool:
EQ: unknown
EX: 776
TU: 774

Tubpbs
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Re: AMEX Annual Fee

Postby Tubpbs » Thu Jun 16, 2016 5:23 am

It was a pretty predictable outcome. I don't know when they did, but limiting the bonuses to once ever is a pretty big first step towards this.

It's unfortunate, but if you're getting the cards for use, with rare exceptions, it shouldn't really matter that much.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

MemberSince99
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Re: AMEX Annual Fee

Postby MemberSince99 » Thu Jun 16, 2016 7:30 am

And panic has begun on MF

Elijahmex
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Re: AMEX Annual Fee

Postby Elijahmex » Thu Jun 16, 2016 2:14 pm

MemberSince99 wrote:And panic has begun on MF


Loolol.

On a serious note though, a few weeks ago I called the hotline and I told the CSR how I never got offers until I received my Platinum and he himself told me to do the following:
Apply for the PRG, meet the minimum spending requirements, receive point, fee will be waived for the 1st year then bump the card and you end up with xxxx,xxx more points". And it got me to thinking yea why not, the next time I receive an offer why not? But I'm gardening until end of 2016...
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MemberSince99
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Re: AMEX Annual Fee

Postby MemberSince99 » Mon Jun 20, 2016 7:52 am

Elijahmex wrote:
MemberSince99 wrote:And panic has begun on MF


Loolol.

On a serious note though, a few weeks ago I called the hotline and I told the CSR how I never got offers until I received my Platinum and he himself told me to do the following:
Apply for the PRG, meet the minimum spending requirements, receive point, fee will be waived for the 1st year then bump the card and you end up with xxxx,xxx more points". And it got me to thinking yea why not, the next time I receive an offer why not? But I'm gardening until end of 2016...


That's not a bad plan if it works for you.

They know people do this and they have no issue bumping the card up or down

Tubpbs
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Re: AMEX Annual Fee

Postby Tubpbs » Mon Jun 20, 2016 4:10 pm

Will they let you do it within the first 13 months though?
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It



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