Points Clawed Back - Upgraded for bonus, downgraded in less than 12 months.
Last year I took a targeted upgrade from Everyday to EveryDay Preferred and paid the prorated annual fee, met the spend requirements and received my bonus points. Last month I was charged the annual fee and since I was never hitting the 30 transactions needed to get the 50% bonus points, I decided to downgrade back to the Everyday card where it's easier to hit the 20 transactions per month and receive the 20% bonus.
Today I received an email saying they have adjusted my account because of the downgrade and sure enough I saw that the bonus points had been pulled out. I wish I had known that even downgrades would trigger a clawback. Any suggestions on how to proceed? Should I just chalk this up to experience and move on?
FWIW, this is now my only Amex card. I had a Gold card which I cancelled last year after I got charged the $250 annual fee and almost always was losing out on the limited restaurant credit.