If I use Sax credit July 1 but cancel card later in July (Fee due), clawback?

[PacoDeGato]

Hi,

I have an AmEx Platinum (Schwab) where the fee is coming due at the end of June. I already got approved for the Morgan Stanley, so I'm gonna cancel the Schwab within 30 days of the fee, but in that time the Sax Credit becomes available.

If I use the $50  Sax credit after July 1 but cancel the card before the end of July, does anyone know if I'll still get the credit, or will AmEx claw it back? It's not a big deal and I don't want to get pegged for abuse, so I'll probably skip it unless there are some data points that it all goes well.

Thanks!

[greathummer7]

Hi,

I have an AmEx Platinum (Schwab) where the fee is coming due at the end of June. I already got approved for the Morgan Stanley, so I'm gonna cancel the Schwab within 30 days of the fee, but in that time the Sax Credit becomes available.

If I use the $50  Sax credit after July 1 but cancel the card before the end of July, does anyone know if I'll still get the credit, or will AmEx claw it back? It's not a big deal and I don't want to get pegged for abuse, so I'll probably skip it unless there are some data points that it all goes well.

Thanks!

No should not claw back. This is a common strategy to double dip these credits around beginning of the year.

[ejb123]

Hi,

I have an AmEx Platinum (Schwab) where the fee is coming due at the end of June. I already got approved for the Morgan Stanley, so I'm gonna cancel the Schwab within 30 days of the fee, but in that time the Sax Credit becomes available.

If I use the $50  Sax credit after July 1 but cancel the card before the end of July, does anyone know if I'll still get the credit, or will AmEx claw it back? It's not a big deal and I don't want to get pegged for abuse, so I'll probably skip it unless there are some data points that it all goes well.

Thanks!

Just make sure you use it at saks and not sax...