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A reader wants to know how American Express prorated annual fee refund works after learning that she can downgrade her American Express Marriott Bonvoy Brilliant Card to a $95 annual fee Marriott card, keep the Marriott 85K ree Night Certificate and receive Amex prorated annual fee refund.
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Amex Annual Fee Refund Policy
You must close or downgrade your card within 30 days of the statement closing date in order to receive a full refund of the annual fee. Thereafter, the only way to receive any type of refund is to downgrade and receive a prorated refund.
How Does Amex Calculate the Prorated Annual Fee Refund?
- When the card’s annual fee is posted.
- When you product change or downgrade the card.
- The $95 annual fee is posted on January 1st.
- You downgrade the card on January 15th.
- You owe Amex $3.64 and receive a refund statement credit of $91.36.
- You use the annual fee of $95 divided by 365 days = $0.26 per day.
- From the example above, it is 14 days between the date the annual fee is posted and the date you request to downgrade the card. Therefore, you use 14 x $0.26 = $3.64
- $95 – $3.64 = $91.36 refund.
How to Get A Full Amex Annual Fee Refund?
- Be sure to cancel the card within 30 days of the statement closing date after the annual fee is posted.
- Be sure to downgrade the card before the annual fee is posted.
If we, in our sole discretion, determine that you have engaged in abuse, misuse, or gaming in connection with this offer in any way or that you intend to do so (for example, if you applied for one or more cards to obtain an offer(s) that we did not intend for you; if you cancel or downgrade your account within 12 months after acquiring it; or if you cancel or return purchases you made to meet the Threshold Amount), we may not credit, we may freeze, or we may take away Membership Rewards® points from your account. We may also cancel this Card account and other Card accounts you may have with us.