Cancelling Amex - Loss of Points.

[chrisb]

I was just informed by Amex that if I cancel my card I will lose all points that haven't transferred over to QF. Since this is a Qantas Premium card there's not much I can do about it except wait. The points transfer is on the 27th, Annual fee due on the 28th so hopefully it works out. They also didn't seem to know what would happen with a pending balance - First they said i'd have 14 days to pay, then 7, then 10.

Their attitude was very negative. I simply don't see the value in the $195 fee and they didn't want to do anything about it. It was either change to a discovery card, or leave completely. If i'm going to have to change card numbers I may as well shop around first and try to do away with the Amex which seems to be rejected 50% of the time.

Oh well, it's been a nice run Amex but with the fee, constant rejection and lack of PIN numbers and paypass its time to move on.

 

[yohy?!]

You should be able to wait for the points to transfer then cancel the card before paying the fee

 

[chrisb]

Yep, that's the plan.

 

[dajop]

Dunno if this helps, but certainly I've cancelled several cards over time and they all gave a pro rata refund of annual fee. But plan A (cancelling after points transferred and not paying fee) sounds like a good plan. As long as it won't give rise to and outstanding debt.

 

[Mal]

I thought buried away in the T&Cs is a comment that you have 7 days after cancelling a card to dispose of your points ... Not sure where I read that, but recall it relating to Amex.

Might be different for direct sweep cards though.

 

[rechoboam]

As mentioned above, I have always received a pro rata refund of the annual fee after cancelling a card. I would check that.

 

[glass]

when I asked to cancel, they processed my points transfer right away.
but yeh, seems amex is not the old amex after the gfc.

 

[JohnK]

I got my $195 annual fee waived for the 2nd and 3rd years easily but when I called again to cancel earlier this year in Jan 2011 it was not offered. I was told they could not keep offering the card fee free. I had one small issue though in that I paid for TG and SQ flights using the card and they may ask to see the credit card. No problems got the annual fee waived again.

The a few months ago go a call and was offered 2 points/$1 spend (usually 1.25 points/$1) up to a maximum 20, 000 points. I have been moving most travel related spend on this card trying to get the 20,000 bonus points before year end.

I will be calling to cancel again in early January 2012 as I do not see any value in paying $195 for the privilege of earning QFF points. Fine if they offer to waive the annual fee but If I am going to pay an annual fee I may as well go for another Qantas Amex card with sign on bonus points.

 

[chrisb]

Today was cancellation day. I called up and they instantly waived the fee. One more year with Amex. If nothing else it saves me memorizing a new card number. They were very good at pointing out that they have waived it 3 out of 4 years that I've had it.