nwflyboy

I'm about to close my Amex Platinum personal card - I am not getting much out of the benefits and I can no longer justify that high annual fee. As luck would have it, my membership in Global Entry/TSA Precheck recently expired, so I'm trying to get that renewed (and then get credited for the $100 fee) just as I'm heading for the Amex exit. The timing is beyond "tight" (yes, I should have done this weeks ago to avoid sweating it, but I didn't).

My statement is due today. That's the statement on which my annual fee appears. I already called them and fished for a retention bonus, was flatly denied (and the retention specialist even volunteered that there was no way I'd be getting one even if I called back and tried again later)

Yesterday, I went online to the US Global Entry website and put in my application for renewal. They did charge my card (using my soon-to-be-dead Amex Platinum). Today, I see that charge as pending. I think that the change should go through by EOD today, or Monday (next business day) at the latest.

I'm planning to call in this evening to try one more time for a retention, though I assume I won't get one. I'll then ask to close my account (to beat the annual fee). My next/last statement should close in another couple business days. There are a few minor charges on this statement, so I'm going to get at least one more anyway (maybe two).

Giving the timing of things, I expect that the $100 charge from TSA will appear on my next statement (which closes Monday), but the Amex credit for that may take some additional time. What happens then? The card was open when the charge hit, but will probably be closed when the credit comes. Does Amex then just cancel the credit? If not, what happens to the credit - does my (soon to be) closed account receive the credit, or does it effectively bounce off (and then vanish?)? Does it result in a closed account with a positive balance? I do have another Amex card, so if they need a place to apply the credit, that would be an acceptable option (or I'd gladly take a check).

Worst case, I'm out a hundred bucks. I'll live. (But I'd rather skate with the $100 credit, of course.)

I'm sure I'm not the first person who has tried to slip this in at the 11th hour. Thanks for any insights as to what's likely to happen.

mia

Do you mean that today is the payment due date for the statement on which the annual fee appeared -or- do you mean you expect the fee to appear on your next statement?

nwflyboy

I mean: today is the payment due date for the statement on which the annual fee appeared.

As in, it's 11:59 pm (metaphorically speaking...literally and temporally, I have about 11 and a half hours before the payment is due...in my time zone). So I will be calling in later today (before end of the business day) to close the card.

ETA: Except for the AF, I have already paid off the balance of the charges on the card whose payment due date is today. Assuming the annual fee is removed, there should no outstanding balance on the card for that most recent statement (for which payment is due by EOD today).

There are a few additional charges that will appear on my NEXT statement (including $100 for TSA Precheck from yesterday, currently shows as Pending), but other than the AF, nothing is owed on the statement that's due for payment today.

Thanks.

mia

It makes no difference what time of day you call, pending transactions can still post to nominally closed account.

halamadrid

Since you have 30 days to get the AF reimbursed, I would hold off on closing the account. The AF normally posts on your statement date, but the due date (especially for Amex charge cards) is normally less than 30 days (usually about 3 weeks or less) from your statement date. Therefore, even after your statement due date you should have about another week or so to cancel and get your fee reimbursed. Therefore, I would wait on the cancellation and let the credit for the Global Entry fee post early next week and then cancel. This will of course require that you pay the AF today and then wait for the credit after cancellation. If you have other Amex cards, paying the AF and then having a credit on the closed card should not be an issue as you can just reach out to CS via chat and have them move the credit to another one of your cards to cover charges on those cards. Good luck!

nwflyboy

Thanks. So I went ahead and paid the AF this afternoon. Will watch for the Global Entry fee credit - hopefully that'll hit soon. Any idea how long that typically takes?

halamadrid

It's been a while since I charged mine, but I remember the credit posting very quickly (a day or two after the charge posted).

nwflyboy

That's what I'm hoping for, too. Thanks!

OneWorldSapphire

My annual fee just posted and I've had this card for about 5 years. I can't really justify the new higher annual fee with what I feel are reduced benefits and less value (to me, anyway). Quick question: I was going to renew my global entry before I cancelled. I haven't used this benefit in five years so I'm eligible for the reimbursement. If I renew today but cancel the card in 3 weeks, will AMEX claw back the credit? Any experience with this?

p.s. I NEVER get these AMEX gifts everyone else gets (such as the free Langham hotel night), and I spend a lot of money on this card. It's so annoying!

mia

No.

I assume you will ask about a retention offer when you call to cancel?

OneWorldSapphire

Last year, I received $200 statement credit, so I assume this year I'll be offered zilch. In my experience, I usually receive an offer only every other year, unless there's a new trick to doing this.

mia

This is generally true, although some (not all) have received $150 even though they received a retention offer within the last 13 months.

American Express retention offers (2022)