My Card prestige no longer available

[goldenhorn]

Lodged a formal complaint requesting a full refund of my $700 annual fee (paid May 2026) given the upcoming Prestige to Premier downgrade. Complaint was rejected.

Their reasoning:

• The annual fee was validly charged under the T&Cs at the time, so no error occurred and no full refund is payable
• Customers were given advance notice of the changes, which they consider sufficient
• I’m still entitled to the pro-rata refund already announced (difference between $700 and $300 fee, calculated from 1 October 2026 to my next anniversary date, credited by 31 December 2026 if the account stays open and in good standing)
• No error = no refund is basically their line, they’re treating this as a standard product change rather than something that breaches the terms I signed up for

They’ve pointed me to AFCA if I want to escalate, and there’s a time limit on doing so.

I’m going to close the card in the next week and apply for an Amex platinum and then I’ll follow up with AFCA.

 

[goldenhorn]

They will presumably argue that you were aware of the changes before the annual fee was charged, and that your payment of the annual fee indicates you were content with the arrangements proposed. They will say the onus was on you to know when your year starts. If you cancel the card before the changes take effect then you will have lost all grounds for a refund since you will have suffered no reduction in service at the time you cancel.

I hope it works out for you but I think you have played your hand badly.

How would I have been aware of the proposed changes if they’ve just been announced?

I’m doubtful I’ll get a full refund, but I’ll cancel and request a pro-rata refund from the cancellation date.

 

[goldenhorn]

Because the changes were announced on 21 July and you paid your annual fee in 27 July.

I think you’ve confused me with another post. I paid my fee in May.

 

[Mr H]

I think you’ve confused me with another post. I paid my fee in May.

My apologies. I have done exactly that. I have deleted the posts in question.