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PSA: Starting Sep 1, 2016, Amex will not refund prorated AF 30 days after billing date of AF

pichalite 793 122 June 5, 2016 at 08:33 PM in Credit Cards (5) More American Express Deals
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Last Edited by BeAuMaN June 6, 2016 at 12:12 AM
Not a hot deal.

First PSA post, please move if this is not the right category to post. Happened to come across this news in a reddit thread. Confirmed this with Amex CSR.

Quote :
Closing your Account Effective September 1, 2016, in Part 2 of the Cardmember Agreement, we are amending the Closing your Account sub-section in the Other important information section by inserting a new paragraph after the first sentence: If an Annual Membership fee applies, we will refund this fee if you notify us that you are voluntarily closing your Account within 30 days of the Closing Date of the billing statement on which that fee appears. For cancellations after this 30 day period, the Annual Membership fee is non-refundable. If an Annual Membership fee applies to your Account, it is shown on page 1 and page 2 of Part 1 of the Cardmember Agreement. If your billing address is in the Commonwealth of Massachusetts at the time you close your account, this policy will not apply to you.
Reddit thread - https://www.reddit.com/r/churning...ds_of_the/

All those who signed up for Amex platinum recently might have to work on minimum spend instead of waiting for $200 credit in Jan 2017 to maximize the benefit, unless you really use the card's other benefits.

This rule applies to all Amex cards. I hardly read my credit card statements. So, posting here if it helps others.
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#2
Quote from pichalite View Post :
Not a hot deal.

First PSA post, please move if this is not the right category to post. Happened to come across this news in a reddit thread. Confirmed this with Amex CSR.



Reddit thread - https://www.reddit.com/r/churning...ds_of_the/

All those who signed up for Amex platinum recently might have to work on minimum spend instead of waiting for $200 credit in Jan 2017 to maximize the benefit, unless you really use the card's other benefits.

This rule applies to all Amex cards. I hardly read my credit card statements. So, posting here if it helps others.
I don't know why anyone gave this a thumbs down but I am giving you a thumbs up...thanks so much for posting this as I doubt that most people would see this on their own CC statements! Thank you again for the heads up!
I am sure you have saved quite a few people quite a bit of grief ! REPPED!
Reply Helpful Comment? 4 1
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#3
Quote from spending2much View Post :
I don't know why anyone gave this a thumbs down
Likely due to this being put in the "Hot Deals" forum, which is incorrect.
Reply Helpful Comment? 2 7
#4
Quote from spending2much View Post :
I don't know why anyone gave this a thumbs down but I am giving you a thumbs up
Well, since you are clueless after almost 6 years here.....let me help you.

This website has many forums. This one is called the: "Hot Deals" forum.

Since OP even clearly put this is "not a hot deal" it has no reason to be here. Knowingly misplacing threads usually gets thumbs down.
Reply Helpful Comment? 3 35
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#5
Quote from tennis8363 View Post :
Likely due to this being put in the "Hot Deals" forum, which is incorrect.
I quickly searched for PSA and found many of them with TU in Hot Deals. Practically also, people generally watch Hot Deals forum only. So posted here. May be mods can move this to right forum.
Reply Helpful Comment? 8 1
#6
Quote from SDSexpress View Post :
Well, since you are clueless after almost 6 years here.....let me help you.

This website has many forums. This one is called the: "Hot Deals" forum.

Since OP even clearly put this is "not a hot deal" it has no reason to be here. Knowingly misplacing threads usually gets thumbs down.

I don't want to get into a pissing contest with you. Your explanation is an interesting theory but as the OP has stated, there are PLENTY of PSA's here and since people left thumbs down without stating why *WE* are only left to guess! Thank you (I guess) for the information minus the snark(Not sure why you felt the need to be a prick- please note the reply prior to yours was informational without the insults)!

Here is a PSA from today with 24 thumbs up! http://http://slickdeals.net/f/8809359-psa-amazon-notice-for-recall-of-4-flavors-of-nature-valley-bars?v=1&src=SiteSearchhttp://slickdeals.net/f/8809359-psa-amazon-notice-for-recall-of-4-flavors-of-nature-valley-bars?v=1&src=SiteSearch
Reply Helpful Comment? 9 1
Last edited by spending2much June 5, 2016 at 09:05 PM
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#7
Ignore the haters OP, good info and I wouldn't have noticed it if it was not in Hot Deals.
Reply Helpful Comment? 8 1
#8
Quote from dshop View Post :
Ignore the haters OP, good info and I wouldn't have noticed it if it was not in Hot Deals.

Agreed. This was a very helpful post and I appreciated it.
Reply Helpful Comment? 5 1

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#9
Rip amex
Reply Helpful Comment? 1 0
#10
Good info.

The hammer continues to be dropped on those who opened up multiple credit cards in a year for signup bonus and close cards. Like me.

I previously got the amex plat last year. I was hit with with $450 annual fee. Met the minimum spend and points posted within 3 months. Then i canceled card and was refunded full annual fee since it was within 90 days
Reply Helpful Comment? 1 4
#11
Quote from Switching2Geico View Post :
Good info.

The hammer continues to be dropped on those who opened up multiple credit cards in a year for signup bonus and close cards. Like me.

I previously got the amex plat last year. I was hit with with $450 annual fee. Met the minimum spend and points posted within 3 months. Then i canceled card and was refunded full annual fee since it was within 90 days

Are you still happy now?
Reply Helpful Comment? 2 1
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#12
Quote from Switching2Geico View Post :
Good info.

The hammer continues to be dropped on those who opened up multiple credit cards in a year for signup bonus and close cards. Like me.

I previously got the amex plat last year. I was hit with with $450 annual fee. Met the minimum spend and points posted within 3 months. Then i canceled card and was refunded full annual fee since it was within 90 days
If the card is closed with in 90 days, full AF is refunded ? I am planning to close mine before Sep 1 which happens to be with in 90 days.
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#13
Wait, so people were opening the cards without first year fee waived, then closing within the first year and getting the yearly fee refunded? Had no idea they even refunded the yearly fee if closed within the first year.

I just did the PRG, with first year fee waived... Will this effect me? I'll close acct. after Jan 1st 2017 (2nd $100 airline incidental credit), but before the one year mark.
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#14
They are probably changing their T&C to reflect an increasing number of people who open new accounts and then quickly close them. They don't make money this way. There are plenty of other card options out there - Amex is for sale - so if they're sold don't count on them being as nice as they are now.
Reply Helpful Comment? 0 0
#15
Quote from SDSexpress View Post :
Well, since you are clueless after almost 6 years here.....let me help you.

This website has many forums. This one is called the: "Hot Deals" forum.

Since OP even clearly put this is "not a hot deal" it has no reason to be here. Knowingly misplacing threads usually gets thumbs down.
Blah,Blah,Blah...arrogance at its finest. BE NICE!

Quote from fjfjfj View Post :
Agreed. This was a very helpful post and I appreciated it.
Agreed- hate the so called "experts" posting their arrogance!! BE NICE!
Reply Helpful Comment? 2 2
Last edited by thaskett June 6, 2016 at 12:46 AM
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