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Here’s How To Pro-Rate The Annual Fees On AMEX Cards After September 1st, Besides For Moving To Boston

American Express is a DansDeals.com advertiser.

AMEX is making changes to their annual fee policy on September 1st:

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Currently you can cancel a card for up to 60 days from the date the fee was billed. That will switch to 30 days from the closing date of the statement on which the fee appears.

But the bigger deal is that annual fees will no longer be pro-rated if you cancel a card after that 30 day period. Currently annual fees are pro-rated, so if for example you cancel a card after 5 months of paying an annual fee you would receive a a refund for 7/12ths of the annual fee.

Apparently these new rules don’t apply if you live in MA, so there’s always the option of moving to Beantown. (I don’t think day-tripping to Bahston for more than 300,000 miles will count even if it is wicked smaht 😉 )

Otherwise, I reached out to AMEX and confirmed that you will still be able to downgrade your card and receive a pro-rated refund after these new rules go into effect.

That mean if you have a $450/year Platinum card for example, you’ll still be able to downgrade to a $195/year Premier Rewards Gold card or $95/year Green card and receive a pro-rated refund for the higher priced card.

You just won’t receive any refund if you cancel the card. Unless you Pahk the Caa in Hahvahd Yahd.

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23 Responses to “Here’s How To Pro-Rate The Annual Fees On AMEX Cards After September 1st, Besides For Moving To Boston”

  1. Anonymous Says:
    1

    you gave examples of downgrading to a lower annual fee card

    what about downgrading to a no annual fee card?

    ReplyReply
  2. Anonymous Says:
    2

    Pahk the Caa in Hahvahd Yahd???

    ReplyReply
  3. henche Says:
    3

    i thought we all lived in boston. weird.

    ReplyReply
  4. MaaYanky Says:
    4

    @Dan
    You’re in a joking mood today! 🙂

    ReplyReply
  5. Sos Says:
    5

    I’m waiting to see who is going to be the first to ask an explanation on the last line.

    ReplyReply
  6. MaaYanky Says:
    6

    https://www.youtube.com/watch?v=iU9_Fbp1y2M

    ReplyReply
  7. Baruch Says:
    7

    @anonymous, park the car in Harvard.
    You sir was clearly never in Boston

    ReplyReply
  8. Thanks!!!!!! Says:
    8

    this was worrying me very much, thanks

    ReplyReply
  9. Yossi Says:
    9

    I have the platinum card for two years and have never been charged an annual fee, any explanation?

    ReplyReply
  10. Yordai Dooma Says:
    10

    @henche:
    I think some of the readers here live out of town. Dan was obviously trying to help them. Yes, most jews live in boston

    ReplyReply
  11. Anonymous Says:
    11

    @Anonymous: There is no charge card without an annual fee so the answer is no

    ReplyReply
  12. Jack Says:
    12

    Will you instantly be charged the AF for the cheaper card upon downgrading?

    ReplyReply
  13. Dan Says:
    13

    @MaaYanky:
    One of those days.

    @Yossi:
    Play the lottery.

    @Yordai Dooma:
    Lol

    @Jack:
    Not instantly.

    ReplyReply
  14. Jack out of the box Says:
    14

    Was there a similar change recently with Citi? I downgraded a Citicard recently (I think within 30 days of AF charge) and I got back only like 10 months of AF.

    ReplyReply
  15. Sruly Says:
    15

    @Yossi: I have seen before a Platinum business card without an AF but it was a really old account, and didn’t have all the benefits of the current Platunum cards, I don’t know if they have such an idea as a personal card.

    ReplyReply
  16. Moishe Says:
    16

    Will it be automatically or will they need to manually do it ?

    ReplyReply
  17. Izzy Says:
    17

    @Baruch – nor it seems were you – there’s no parking in Harvard Yard!!

    ReplyReply
  18. Moshe Says:
    18

    Hmmm were you drunk while writing this? The truth🙃

    ReplyReply
  19. mike Says:
    19

    Dan is still basking in the afterglow of the Cavs parade by the Flats and the Tribe playing terrific ball,once the Browns play, it might be a little different. While you Bostonians seem to have a parade along Freedom trail at least once a year,and with my basketball team the Nets,giving you a draft pick every year apparently

    ReplyReply
  20. chevron Says:
    20

    fyi http://www.bostonglobe.com/ideas/2015/08/25/blame-harvard-for-this-annoying-boston-accent-test/rvyip8zcAnwNmj1qpHtZqM/story.html

    ReplyReply
  21. hey Says:
    21

    does this apply for new cards only? or even the existing cards?

    ReplyReply
  22. somy Says:
    22

    On a different note, how do you get the pro-rated refund right now. Do you specifically ask the representative while cancelling or its automatically applied to your account?

    ReplyReply
  23. jzee Says:
    23

    will you then have to pay for the full anual fee of the downgraded card, or you can downgrade then cancel?

    ReplyReply

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