AMEX Platinum Charge fee reduction

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netaddict

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Mar 14, 2004
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Anyone had any luck in getting their platinum charge card fee reduced?

Was told they no longer reduce the fee today.
 

ermen

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i managed to get reduced to $450 for a year. said i wanted to cancel and i said because of $900 fee was too expensive.
that said, i'm going to cancel my card once its up as don't really see much value there anymore.
 

netaddict

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Some years I've been happy to pay the $900 as seen the value. One of my supp card some years has gotten the value out of the insurances but that is no longer an option. AMEX spin says I will benefit from the reward program changes but I'm not sure. AMEX lowers the fee and I see in 12 months I'm now worse off happy for $900 but at present no way.

Find a lot of the customer service staff rather arrogant about the all the changes. Yes, they may not make the changes and card members aren't happy and they are coping the unhappy calls. Wish they'd display their arrogance to management and not card members.
 

Clarkes

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Aug 6, 2011
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I agree that AMEX is losing its appeal and I too will be cancelling it before the next membership fee is due.
 

k3nnis

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I wonder how many plat charge members will be remaining after all these enhancements...I am still a member but will not renew it. Only reason I paid the $900 is for the 75000 bonus points.
 

lovestotravel

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Sep 18, 2008
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6,161
I wonder how many plat charge members will be remaining after all these enhancements...I am still a member but will not renew it. Only reason I paid the $900 is for the 75000 bonus points.

You can cancel as soon as you get/transfer the points and get a pro-rata refund of the $900
 

smit0847

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You can cancel as soon as you get/transfer the points and get a pro-rata refund of the $900

What?!? Really?!?

So if you cancelled it after a month you would get to keep the points and get 11/12s of the annual fee back?

This would mean 'buying' MR points would become extremely cheap!!
 

k3nnis

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Yep but maybe redeem the MR points first before they do something silly and ask for the points back!
 

k3nnis

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Sounds like a good idea. But I haven't got my bonus points yet. How long did yours take? And did you have to call up to chase for them? It has only been 6 weeks since I spent the required $500.
 

lovestotravel

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What?!? Really?!?

So if you cancelled it after a month you would get to keep the points and get 11/12s of the annual fee back?

This would mean 'buying' MR points would become extremely cheap!!

Yes!

Just of course ensure the points are transferred OUT before cancelling
 

smit0847

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Yes!

Just of course ensure the points are transferred OUT before cancelling

I really need to make sure people have actually done this before I do it because this makes AMEX a whole lot more attractive for me!

When Amex have decent sign-on points offers they will usually offer around 100 points for every $ annual fee (i.e. if annual fee is $395 they might offer 40,000 MR sign-on points during a special).

If I'm approved and make the required minimum spend (say $500 in the first month), I receive my sign-on points and my first statement. I then immediately transfer all my points from MR to my Velocity account, pay-off my $500 balance and then when its all cleared, and call to close my account (say, 6 weeks after I opened it).

Are you SURE I would be refunded the pro-rata $395?

I've never heard of a CC company doing this and I can't imagine Amex would offer big sign-ons then allow you to recoup almost all your outlay and get to keep the points?!?
 

Cynicor

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Jun 13, 2007
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3,882
Those who signed up prior to the changes can have the annual fee refunded pro-rata, guaranteed, as you have paid for a product which no longer exists (i.e. a decent card).

Anyone who signed up after the charges may find it a bit harder to wrangle, but probably still possible.
 

casanovawa

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Jan 17, 2011
Posts
3,261
I haven't done it with Amex i don't think, but i have had several cards where i signed up, got the bonus points, even balanced transferred an amount over to get 6 months or so of near free interest, then cancelled and got part of the sign up fee pro rata'd back... Most recent one was a Westpac Earth offer netting 16,000 QFF which ended up only costing about $40 even though there was a stuff up which meant i didn't get the points and so couldn't cancel till about 6 months in instead of 3 months, so many providers will do this, just a quick ask when cancelling and they will work out how much they owe you...

I make 1/12th of $900 = $75, so yes could be cheap MR points if Amex will pro rata it back, but cards often say that you will get your points like 6 or 10 weeks or so after your spend and some deals these days are even saying you will receive your bonus sign up points in equal amounts over the first 6 months of continuous spend each month of your membership as no doubt they are cottoning on to the practice of cancelling straight after the bonus points hit the account, with or without a request for a pro rata refund... So it will probably take longer than 1 month for Amex to credit the points, more likely around 3 months...
 
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