How do I get an Amex annual fee refund?

Question

You might get your American Express Platinum card annual fee waived if you are calling the Amex retention line at (800) 452-3945, but it is not guaranteed that it will work. Alternatively, you should consider applying for the Amex financial relief program.

Here’s how to get the American Express Platinum card annual fee waived:… read full answer

Call the retention line: You can ask Amex to waive the annual fee by calling (800) 452-3945. However, it’s important to understand that this approach may not be successful. American Express typically does not waive annual fees entirely, but it may offer a side benefit to offset the Platinum card’s $695 annual fee. Retention offers traditionally include statement credits, bonus points or spending bonuses. But make sure your account is in good standing before calling.

Apply for the Amex financial relief program: If you’re having difficulty paying your annual fee due to unforeseen financial difficulty, apply for the financial relief program online or call Amex at (866) 703-4169. You could potentially have your annual fee waived. Or you might receive other assistance such as lower monthly payments or lower interest rates. If you decide to enroll in a financial relief program, though, your spending ability will likely be greatly reduced for the duration. Your credit score may be impacted by the reduction in credit limit. And if you don’t comply with the terms of the program, that will appear as a negative on your credit report.

Other options: You might be able to get your American Express Platinum card annual fee waived if you’re an active member in the military. Downgrading to an American Express card with a lower annual fee is also an option.

However, if you don’t end up getting the $695 annual fee waived, you should consider keeping the card for its rewards. With the American Express Platinum card, you’ll earn 5 points per $1 on flights booked with airlines or with American Express Travel (up to $500,000 spent per year), 5 points per $1 spent on prepaid hotels booked through Amex, and 1 point per $1 on all other purchases.

If you spend a lot on these categories, the rewards you’ll get will more than make up for the cost. But if you can’t take advantage of its travel-focused perks, you’ll end up overpaying.

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Answer 1 · 2020-11-30 05:28:05

Jamie Thompson, WalletHub Analyst

@ExTaxMan • 11/30/20 This answer was first published on 11/30/20. For the most current information about a financial product, you should always check and confirm accuracy with the offering financial institution. Editorial and user-generated content is not provided, reviewed or endorsed by any company.

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To get an Amex annual fee refund after closing an account, call customer service at 1-800-528-4800 within 30 days to request a refund check. American Express will fully refund the annual fee if a cardholder cancels a credit card less than 30 days after the posting date of the statement on which the fee appears.

Amex usually does not issue refunds after this 30-day period, so if a cardholder misses the refund window, they might as well keep the card for the remaining 11 months. If you miss the window and have more than one Amex card open, however, you could try asking customer service for a pro-rated refund on the one you want to close. Cardholders report mixed results with that.

Keep in mind that cancelling a card may cause you to lose your rewards immediately. If you have another open American Express card in good standing, though, Amex will allow you to redeem Membership Rewards points from your cancelled account for up to 30 days.

Finally, if you want to get the annual fee waived but don’t want to cancel your card, call Amex customer service and ask for the retention department. Tell them why you’re hesitant to pay the annual fee. They may offer downgrade options or a bonus to help offset the fee.

How do I get an Amex annual fee refund?

Jamie Thompson, WalletHub Analyst

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