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Cancelling Plat Business to Get Personal Card - Annual Fee Credit, Airline Credit?

Cancelling Plat Business to Get Personal Card - Annual Fee Credit, Airline Credit?

Old Jun 19, 2018, 3:25 pm
  #1  
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Join Date: Jul 2000
Posts: 3,737
Cancelling Plat Business to Get Personal Card - Annual Fee Credit, Airline Credit?

I'm thinking of cancelling my Business Platinum Card and getting the Schwab Personal Platinum Card.

If I do that and cancel my Business Platinum Card:
  • Do I get any sort of refund on the Annual Fee that I already paid?
  • What about the airline fee credit? If I go and spend the $200 and get the credit, is any portion of that reclaimed if I cancel
And, generally speaking, are there any hidden disadvantages of the Personal Card over the Business Card? The only non-obvious things I see is that you don't get the GoGo sessions (higher annual fee being an obvious thing.)
BigFlyer is offline  
Old Jun 19, 2018, 3:41 pm
  #2  
 
Join Date: Aug 2007
Location: Truth or Consequences, NM
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Originally Posted by BigFlyer
I'm thinking of cancelling my Business Platinum Card and getting the Schwab Personal Platinum Card.

If I do that and cancel my Business Platinum Card:
  • Do I get any sort of refund on the Annual Fee that I already paid?
  • What about the airline fee credit? If I go and spend the $200 and get the credit, is any portion of that reclaimed if I cancel
And, generally speaking, are there any hidden disadvantages of the Personal Card over the Business Card? The only non-obvious things I see is that you don't get the GoGo sessions (higher annual fee being an obvious thing.)
If it's been greater than 30 days since the closing date of the statement upon which the fee appeared, you will not get a refund. Less than 30 days, full refund. AMEX doesn't pro-rate fee refunds.

You will keep the airline fee credit - it isn't "re-claimed". (Obviously, you'd want to make sure it has already posted to the account prior to cancelling the card.)

Personal platinum does not have the 35% points rebate feature of the business version. It also costs $100 more per annum.
Diplomatico is offline  
Old Jun 19, 2018, 5:44 pm
  #3  
mia
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Join Date: Jun 2003
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Originally Posted by Diplomatico
....AMEX doesn't pro-rate fee refunds.....
That's the policy, but in practice you may receive a refund if you have other card accounts:

Bye Bye pro-rated Annual Fee refunds (USA), September 2016, exceptions reported.

A few more differences:
  • Personal cards appear on your credit report, Business cards do not.
  • Personal Platinum earns 5 points per dollar on airfare, Business cards do not (unless booked through American Express Travel)
  • Business Platinum earns 1.5 points per dollar on individual transactions $5,000+, personal cards do not.
  • Additional Platinum cards on a personal account cost $175/year/3 cards. On a Business account the cost is $300/year/1 card.
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