It’s possible that the previously leaked AMEX Platinum 100,000 MR offer and the more recent AMEX Platinum Mercedes-Benz 75,000 MR welcome bonus have prompted AMEX to rethink its annual fee policy. According to reports from Reddit and DoC, AMEX has quietly updated its terms: the original pro-rated refund policy (Refund pro rata) has been changed so that the annual fee is no longer refundable after 30 days.
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Summary of the change
Effective September 1, 2016, if you close your card within 30 days of the statement closing date on which the annual fee appears, AMEX will fully refund the annual fee. After that 30-day period, the annual fee is non-refundable. This policy does not apply to cardholders with a billing address in Massachusetts, who can still receive a pro-rated annual fee refund.
Original terms
Effective September 1, 2016, in Part 2 of the Cardmember Agreement, we are amending the Closing your Account sub-section in the Other important information section by inserting a new paragraph after the first sentence:If an Annual Membership fee applies, we will refund this fee if you notify us that you are voluntarily closing your Account within 30 days of the Closing Date of the billing statement on which that fee appears. For cancellations after this 30 day period, the Annual Membership fee is non-refundable. If an Annual Membership fee applies to your Account, it is shown on page 1 and page 2 of Part 1 of the Cardmember Agreement.
If your billing address is in the Commonwealth of Massachusetts at the time you close your account, this policy will not apply to you.