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Proper Etiquette for Closing an AMEX

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Established Contributor

Re: Proper Etiquette for Closing an AMEX

Not what I expected when I clicked this thread! Ive told amex to shove it more times then I can count, Im probably in the top 5 people on here with a love hate relationship with them, I can run 100k plus thru my platinum card and not a flinch from them, if I want a revolver automatic approval 1k everytime!!! My wife on the other hand gets 20-40k starting limits with them. So when I get angry I cash out my points and close them. Then in about 4-6 months I get an offer to come back for 75-100k MR points and most of the time I take it. Just close it and move on

"As long as the music is playing, you've got to get up and dance," he said. "We're still dancing."---Prince CEO Citi Bank

"Money isn't the most important thing in life, but it's reasonably close to oxygen on the "gotta have it" scale". ~Zig Ziglar
Message 11 of 32
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Established Contributor

Re: Proper Etiquette for Closing an AMEX


@odd_dog wrote:

@andbennett wrote:

A different reluctant perspective on my Delta Gold experience...

 

Opened the card late summer 2018.  Went on one trip, thought there'd be more, but didn't happen.  Wife really didn't want to pay the annual fee, and told me to cancel it, despite my objections.  I ended up giving in, and cancelling it before the AF processed.

 

3 weeks later got a nasty gram email stating that my bonus would be clawed back.  I called and pleaded with an agent.  She said there was nothing I could do - they were unable to reopen the account.  I'd have to apply for another if I wanted it, but am unlikely to get any sign on bonus ever with AmEx as I'm now seen as a churner.

 

2 months later, the miles haven't yet been deducted from SkyMiles, but I'm expecting them to vaporize at some point.  Poof!

 

I'd recommend you understand all the potential reactions if you cancel.  As mentioned in an earlier post, downgrading might be a better option.  Or pay one AF and cancel it 11 months from now and before the next AF posts.

 

Bummer is, I could have applied that spending to earn the bonus (soon to be clawed back) on another card.  Lost opportunity all around.


Not sure here but does anyone have DP on how long before they "claw back"? 2 months and you still have miles, did AMEX say WHEN they were clawing back? Seems strange that they wait...I mean you could use them and what would they "claw"? strange


Really hard to guess on this.  

Just when I started to wonder whether I had been a fool for NOT having done self-referrals, Amex started clawing those back with a huge delay.

Message 12 of 32
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Super Contributor

Re: Proper Etiquette for Closing an AMEX

OP what is your list of cards?

If you have two charge cards, that is likely Platinum and Gold. With those two, I see zero reason to rush to get an ED card. The claw back possibility is a YMMV situation but I would not risk it.

With the latest claw backs of self referrals that is one of many data points about how banks are clamping down on churners. The poster with multiple “come back for more MR” is doing well, but I’d want to know when those occurred. The high spend is a major factor driving those offers, I would guess.

I will reiterate my suggestion to go to the Delta Blue, and keep that for a year.
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 13 of 32
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Established Member

Re: Proper Etiquette for Closing an AMEX


@odd_dog wrote:

Not sure here but does anyone have DP on how long before they "claw back"? 2 months and you still have miles, did AMEX say WHEN they were clawing back? Seems strange that they wait...I mean you could use them and what would they "claw"? strange

I have seen other posts here about clawbacks and such.  Can't vouch for them though.  I think I've also seen posts about people going into negative SkyMiles balances should the clawback be greater than their current balance.  Please search here though.  I won't go negative if/when this happens.

 

The agent told me that the ask to clawback went out when I got the nastygram email.  GIven SkyMiles and bonus processing, could be any week now.

 

Message 14 of 32
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Frequent Contributor

Re: Proper Etiquette for Closing an AMEX


@I_Love_Cards wrote:
That’s a great idea to move CL! Do you know if that impacts the existing CLI schedule? I’m due for my next attempt on 9/26.

i would wait until after you've requested your CLI on 9/26. move any additional credit to another card, request to close the Gold. they will refund the AF pro-rata. 

 

i'm not sure about Amex but i did this to a BOA card and the request for CLI button disappeared on the card that received the additional credit from the closing card. i'm assuming because the system sees the new limit however the amount might be as a CLI and reset my clock on that card. 

 

you'll lose out on a couple of bucks by waiting til the end of the month but it's better than waiting 3 months for another CLI.

 

 



In my wallet:


In my desk:
Message 15 of 32
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Frequent Contributor

Re: Proper Etiquette for Closing an AMEX

The answer is simple. You hop on chat, you tell them you want to close the card, they confirm, and then it's done. 

 

People think way too much into closing cards just because they have an annual fee. You're not going to get adverse-action taken against you for closing the card within the first year... Especially one like the Delta Gold that provides one perk... Free checked bags. 

 

Nobody has a "relationship" with a bank like American Express unless you're Warren Buffet... In which case, he owns a ton of AMEX shares. 

 

 

Message 16 of 32
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Community Leader
Mega Contributor

Re: Proper Etiquette for Closing an AMEX


@VPExecutive wrote:

The answer is simple. You hop on chat, you tell them you want to close the card, they confirm, and then it's done. 

 

People think way too much into closing cards just because they have an annual fee. You're not going to get adverse-action taken against you for closing the card within the first year... Especially one like the Delta Gold that provides one perk... Free checked bags. 

 

Nobody has a "relationship" with a bank like American Express unless you're Warren Buffet... In which case, he owns a ton of AMEX shares. 

 

 


Actually, Amex is known for adverse action if you close the card before the AF hits. They'll claw back the bonus and ban you from ever getting another sign up bonus. It's pretty clear in the terms and conditions.







Message 17 of 32
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Frequent Contributor

Re: Proper Etiquette for Closing an AMEX


@Brian_Earl_Spilner wrote:

@VPExecutive wrote:

The answer is simple. You hop on chat, you tell them you want to close the card, they confirm, and then it's done. 

 

People think way too much into closing cards just because they have an annual fee. You're not going to get adverse-action taken against you for closing the card within the first year... Especially one like the Delta Gold that provides one perk... Free checked bags. 

 

Nobody has a "relationship" with a bank like American Express unless you're Warren Buffet... In which case, he owns a ton of AMEX shares. 

 

 


Actually, Amex is known for adverse action if you close the card before the AF hits. They'll claw back the bonus and ban you from ever getting another sign up bonus. It's pretty clear in the terms and conditions.


Sure, if you're abusive with it... And even that's a stretch. 

 

I've never had a sign up bonus clawed back and I've opened 15 AMEX cards over the last three years. None of the cards lasted longer than a year either. 

Message 18 of 32
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Community Leader
Mega Contributor

Re: Proper Etiquette for Closing an AMEX


@odd_dog wrote:

@andbennett wrote:

A different reluctant perspective on my Delta Gold experience...

 

Opened the card late summer 2018.  Went on one trip, thought there'd be more, but didn't happen.  Wife really didn't want to pay the annual fee, and told me to cancel it, despite my objections.  I ended up giving in, and cancelling it before the AF processed.

 

3 weeks later got a nasty gram email stating that my bonus would be clawed back.  I called and pleaded with an agent.  She said there was nothing I could do - they were unable to reopen the account.  I'd have to apply for another if I wanted it, but am unlikely to get any sign on bonus ever with AmEx as I'm now seen as a churner.

 

2 months later, the miles haven't yet been deducted from SkyMiles, but I'm expecting them to vaporize at some point.  Poof!

 

I'd recommend you understand all the potential reactions if you cancel.  As mentioned in an earlier post, downgrading might be a better option.  Or pay one AF and cancel it 11 months from now and before the next AF posts.

 

Bummer is, I could have applied that spending to earn the bonus (soon to be clawed back) on another card.  Lost opportunity all around.


Not sure here but does anyone have DP on how long before they "claw back"? 2 months and you still have miles, did AMEX say WHEN they were clawing back? Seems strange that they wait...I mean you could use them and what would they "claw"? strange


They'll basically charge you for the value of them. 







Message 19 of 32
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Frequent Contributor

Re: Proper Etiquette for Closing an AMEX


@Brian_Earl_Spilner wrote:

@odd_dog wrote:

@andbennett wrote:

A different reluctant perspective on my Delta Gold experience...

 

Opened the card late summer 2018.  Went on one trip, thought there'd be more, but didn't happen.  Wife really didn't want to pay the annual fee, and told me to cancel it, despite my objections.  I ended up giving in, and cancelling it before the AF processed.

 

3 weeks later got a nasty gram email stating that my bonus would be clawed back.  I called and pleaded with an agent.  She said there was nothing I could do - they were unable to reopen the account.  I'd have to apply for another if I wanted it, but am unlikely to get any sign on bonus ever with AmEx as I'm now seen as a churner.

 

2 months later, the miles haven't yet been deducted from SkyMiles, but I'm expecting them to vaporize at some point.  Poof!

 

I'd recommend you understand all the potential reactions if you cancel.  As mentioned in an earlier post, downgrading might be a better option.  Or pay one AF and cancel it 11 months from now and before the next AF posts.

 

Bummer is, I could have applied that spending to earn the bonus (soon to be clawed back) on another card.  Lost opportunity all around.


Not sure here but does anyone have DP on how long before they "claw back"? 2 months and you still have miles, did AMEX say WHEN they were clawing back? Seems strange that they wait...I mean you could use them and what would they "claw"? strange


They'll basically charge you for the value of them. 


Nowhere does it say I have to pay a bill AMEX decides to send to me because they can't claw back the points. AMEX isn't allowed to just make up some random value for their bonus and then expect me to pay them back. Send me a bill and I'll rip it up. If the amount isn't an authorized charge to my card, or a fee that's clearly laid out in the T&C's when I apply for the card, they don't get paid. 

 

This is just a case of AMEX trying to stack everything in the favor... Typical multi billion dollar company.

Message 20 of 32
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