What retention? AMEX

[Anonymous]

So there were a few issues I encountered with AMEX.  So I inquired about cancelling my cards because at this point it's not worth the headaches. In the past years I have put over $35k spend per year on the Gold alone. 

I called them to cancel and AMEX "per the agreement" does not issue refunds on annual fees. My annual renewal was 9/14. It's over the 30 days and they will not refund and not prorate a refund. 

There's literally no retention team at all anymore. They're just more than happy to process it.

I use to praise AMEX but now, they've definitely left a bad taste in my mouth. 

[FinStar]

It is well-known, but perhaps you weren't aware, that they can refund the AF as long as you're within the 30-day timeframe when the AF posts. In a variety of cases, the AF could be pro-rated depending on when you contact them (still within the 30-day window).

As far as retention offers, those are definitely hit or miss and it will vary widely by individual and other internal AmEx factors. In my experience, I've received a variety of retention offers for keeping some cards, especially those with AFs. So, retentions do exist, but you have to get the right individual.

[Curious_George2]

I'm sorry you feel unappreciated, @Anonymous.  That sucks.  

I recently had an experience with some parallels to yours. Longtime Green card holder, I upgraded to Gold about a year and half ago. When the $250 AF hit last October, I called and told them it felt too steep. I didn't say anything about canceling, but the rep offered me a modest retention bonus, which I took. The AF hit again this month. I assumed I wouldn't get retention bonuses two years in a row, so instead I called and asked to downgrade to Green. The rep didn't mention any bonus offer, and made no attempt to dissuade me. She cheerfully processed the PC. The prorated refund of about $247 posted within a day, with a corresponding charge of ~$147 for the Green AF.

Seems like they readily do proration when you PC, but if ask to cancel the only options are retention offer (maybe only if it shows up on their screen?) or nothing.

I'm hoping I get a generous offer to PC back to Gold at some point. If so, I'll probably take it. If not, I'll probably stick with Green for a while. I think of the possible upgrade bonus as an acceptable substitute for annual retention bonuses. That perspective helps me get comfortable with the high (for me) AFs they charge. 

I hope you find an outcome you're happy with.

[Anonymous]

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@Anonymous wrote:

So there were a few issues I encountered with AMEX.  So I inquired about cancelling my cards because at this point it's not worth the headaches. In the past years I have put over $35k spend per year on the Gold alone. 

I called them to cancel and AMEX "per the agreement" does not issue refunds on annual fees. My annual renewal was 9/14. It's over the 30 days and they will not refund and not prorate a refund. 

There's literally no retention team at all anymore. They're just more than happy to process it.

I use to praise AMEX but now, they've definitely left a bad taste in my mouth. 

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You called them to cancel your account, so they did. Don't bluff if you're not prepared to be called on it. 

[staticvoidmain]

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@Anonymous wrote: You called them to cancel your account, so they did. Don't bluff if you're not prepared to be called on it. 

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That's actually a fair point. Although I think Amex should process a partial refund on AF for the months you don't actually use or have the card anymore (unless I misunderstood OP's post).

If I was in the same situation, I'll just keep it as I already paid for it. I'll just charge it to buyer's remorse. I might still be able to take advantage of the perks.

[Anonymous]

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@staticvoidmain wrote:

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@Anonymous wrote: You called them to cancel your account, so they did. Don't bluff if you're not prepared to be called on it. 

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That's actually a fair point. Although I think Amex should process a partial refund on AF for the months you don't actually use or have the card anymore (unless I misunderstood OP's post).

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They could, but it's relatively fair (and certainly easier for them!) to say you have X time to change your mind after paying the AF, then you are out of luck.  Lots of other things are somewhat like that.

Also, for some cards, you would also want to take into account perks that have been used.   So if you have used the entire years perk (e.g. Chase SR travel credit) in 3 months, doesn't necessarily mean you deserve the full 9 months AF rebated.   Yes, currently it's worse, as in theory with the CSR I could use the entire $300 travel credit the first month and then cancel and get most of the AF back.  (And probably get blocked by Chase for a long time).   But if we wanted a move to "fairness" to properly pro-rate AF, I would expect the issuers to want this.

[MrDisco99]

Yeah the right time to close an Amex card is within 30 days of the annual fee.  After that you might as well just keep the card since the year is paid for.  I've never heard of Amex just refunding an annual fee as a retention offer.  Retention offers are not always available, so don't be surprised if you tell them to cancel your card and they just do it.

[xenon3030]

I closed my Amex Gold via chat. They provided slight retention offers or PC to Green (no SUB) while I decided to close it. The effective AF was still >150$. They asked the reasons to close the card and I mentioned the terrible monthly benefits that cannot be used easily.

There is no reimbursement of AF, if you close the card after ~30 days of the AF due.

[red259]

As mentioned before after 30 days from the AF due date there is no refund. This falls under the category of knowing the rules ahead of time. Can't blame Amex for that. The AF just hit on my gold card. Not sure what I am going to do. I think last year there was no retention offer so there may be a retention offer this year. Vaguely remember crunching the numbers last year and ending up keeping this card just based on the math even though I have the plat and amex everyday preferred. The preferred will get downgraded to an everyday card when the AF hits. I don't know what I am doing with the plat when AF hits this summer. It was a struggle to justify paying the old AF, so I think with the new AF unless they add something exeptional to it is either going to get downgraded to a gold (if I close this gold) or closed out completely. Any thoughts of the value of the gold card in this circumstance?  

[xenon3030]

If you already paid the AF, it is not feasible to get refund from Amex if you close the card. The best solution is request to PC to Green (the lowest AF among Amex travel cards) and the prorated AF will be refunded to you (no SUB). In the rest of 12 months, you may redeem the MR points using Green for travel or buy GC. After 12 months, you may close Green or keep it.

If you have accumulated MR points and no immedite plan to redeem them, before closing the travel cards you may apply for Amex ED (no AF) and park your MR points there for a future use.