My Card prestige no longer available

Update : After speaking to the CS and was told the pro-rated AF will be issued within a day, there's been some delay (whether intentional or not) from their end and i had to raise the issue several times until I threaten to raise to AFCA, refund magically appear on my closed prestige card. Will speak to CS now again to credit it to my bank account now.
Got a credit of $175 equiv to 25% of the annual fee
 
I signed up on 7th of March this year, the annual fee was charged on 23rd of March
Will I get a pro rata refund from 23rd of March or 7th of March? I would like my Qantas points so want to wait until statement closes this month before I close it, I have no interest in downgrading!
 
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.

I followed your lead and lodged a complaint. Response took almost two weeks and outcome was that they will provide a pro-rata refund from 1 October to the next anniversary date of the full $700 annual fee - a bit better than the general policy, but I think that's because I already have a premier card (alongside the prestige) so my argument was stronger. Still not super happy, so thinking about whether to lob something to AFCA anyway.
 
I finally closed my card this week after paying out the balance. They were actually very helpful on the phone and, without any questions asked, immediately gave me a prorated refund of $521, which was calculated based on the renewal that I paid at the end of May.

I was also approved for a new AMEX Platinum card last week with 200,000 MR. So that softened the pain of killing off this card, and I'm less upset about it now. Enjoying the AMEX Platinum card so far.
 

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