New Amex Annual Fee Refund Policy

[yomo]

Seems like a new era - I never had this over the past 6 years since I got involved, but sadly Amex & Chase completely refuse to budge regarding annual fee refunds after 30 days. I'm having this issue on numerous accounts with each bank and set to lose close to $2,000 in fees which I never expected or imagined would happen. No matter how many times I escalate it and no matter what excuses I make they refuse to budge from their "policy"
Any advice on this matter would be greatly appreciated!
TIA!

[sharabob]

Amex prorates the refunds now. Are you talking about 30 days after your second year or 30 days after you applied?

[mmgfarb]

Amex prorates the refunds now.

Wrong.

[sharabob]

Wrong.

How so?

[yomo]

Amex prorates the refunds now. Are you talking about 30 days after your second year or 30 days after you applied?

Applied beginning of September, fee hit in October, closed and no pro rated fee. $450 balance due on closed card...

[mmgfarb]

How so?

Simple, they don't prorate refunds anymore, you have 30 days from the date the AF posts to cancel. They will prorate downgrades IINM.

[yomo]

Wrong.

What can I do to get at least something back?

[sharabob]

Applied beginning of September, fee hit in October, closed and no pro rated fee. $450 balance due on closed card...

I was referring to 2nd year and on.

[mochjas]

How so?

i believe with Amex if you downgrade it is pro rated but if you cancel you lose the annual fee completely

[TimT]

Applied beginning of September, fee hit in October, closed and no pro rated fee. $450 balance due on closed card...

http://www.dansdeals.com/archives/90839

[yomo]

Simple, they don't prorate refunds anymore, you have 30 days from the date the AF posts to cancel. They will prorate downgrades IINM.

They wouldn't allow downgrade. Its a morgan stanley platinum

[sharabob]

Simple, they don't prorate refunds anymore, you have 30 days from the date the AF posts to cancel. They will prorate downgrades IINM.

Perhaps on new apps. On 2nd year and on they do.

[yomo]

i believe with Amex if you downgrade it is pro rated but if you cancel you lose the annual fee completely

They would no allow me to downgrade

[mmgfarb]

What can I do to get at least something back?

Probably too late at this point, you should have downgraded if it was too late to cancel, you can try to get them to reopen the card since you have to pay the AF anyway although it's unlikely that they'll let. If they do let you, downgrade and then close.

[yomo]

Probably too late at this point, you should have downgraded if it was too late to cancel, you can try to get them to reopen the card since you have to pay the AF anyway although it's unlikely that they'll let. If they do let you, downgrade and then close.

They claim that the Morgan Stanley card is not able to be downgraded

[Yammer]

They claim that the Morgan Stanley card is not able to be downgraded

Then you gotta do the spending within 30 days.

[yomo]

Can anyone help please?

I have:

$95 on a 14 month old Ink
$450 on Morgan Stanley
$525 on Reserve
$85 on Marriot
$95 on Green
$160 on PRG

[yoss6400]

Can anyone help please?

I have:

$95 on a 14 month old Ink
$450 on Morgan Stanley
$525 on Reserve
$85 on Marriot
$95 on Green
$160 on PRG

the ink you can downgrade

[LoLo]

the ink you can downgrade

PRG too.
Try downgrading the $95 green to the $65 green, get prorated refund, then cancel within 30 days of new AF.

If they agree to reopen the plat, see if you can downgrade via chat.

The reserve more than pays for itself.

[jsk173]

Ouch. The OP looks like exactly the type of customer the banks are targeting with these new rules. It's not surprising they're not budging on refunds, especially with three such requested refunds at both Amex and Chase.