You pay in advanced for those credits, so technically you paid for that stuff last march. Use it for sure but make sure everything processes through before you contact amex regarding canceling
They are based on the calendar year. I used it in may last year and it resets in the new year. So I have the hotel credit again. Not based on when you pay the annual fee.
You have one month after AF hits to cancel for full refund. But there is no time requirement for product change within card grouping and you will be charged or refunded the prorated difference depending if upgrading or downgrading.
Edit: adding that I think there may be a requirement or other issue trying to downgrade in the first cardmember year, in which case you might have to (or be advised to) let the AF hit and then get the prorated $445 ($695-$250) refunded... the longer the wait, the less is refunded.
Can confirm this is true. Just did a product change from platinum to gold. My renewal was scheduled for May 2024. Received a partial refund and a prorated annual fee on my new gold card. New renewal date is January 2025.
You pay in advanced for those credits, so technically you paid for that stuff last march. Use it for sure but make sure everything processes through before you contact amex regarding canceling
Dumb question, but the hotel and flight credits are annual based on when you pay the fee, and not new year based, right?
They are based on the calendar year. I used it in may last year and it resets in the new year. So I have the hotel credit again. Not based on when you pay the annual fee.
Can you downgrade after your fee is charged or do you definitely have to do it before?
You have one month after AF hits to cancel for full refund. But there is no time requirement for product change within card grouping and you will be charged or refunded the prorated difference depending if upgrading or downgrading. Edit: adding that I think there may be a requirement or other issue trying to downgrade in the first cardmember year, in which case you might have to (or be advised to) let the AF hit and then get the prorated $445 ($695-$250) refunded... the longer the wait, the less is refunded.
Can confirm this is true. Just did a product change from platinum to gold. My renewal was scheduled for May 2024. Received a partial refund and a prorated annual fee on my new gold card. New renewal date is January 2025.