Awhile back my wife was offered an upgrade from American Express for her Everyday Card to the Everyday Preferred Card. The offer was to switch to the Everyday Preferred card and spend $2,000 in 3 months to receive 25,000 points. The Everyday card has no annual fee, but the Everyday Preferred Card comes with a $95 annual fee.
Last month the yearly fee posted and since we don’t really use this card, I had her downgrade back to the no fee card. A couple weeks later I noticed that 25,000 points went missing from her account. At first I couldn’t understand why, but after a little digging, I figured out that she didn’t keep the Preferred card open at least twelve months. American Express has a rule in the fine print that you need to keep a card open 12 months before canceling or downgrading or they take back their points. They do this to try and stop people from gaming the system. This is not a big deal because when the yearly fee posts, it has been 12 months since you opened a new card. You have 30 days to get the annual fee back after it posts to your account. I forgot this was not a new credit card account and that we had upgraded. I remembered they charged us a pro-rated annual fee when she upgraded and the yearly fee would come in under 12 months since her anniversary date was only 6 months from the product change.
I called American Express this weekend and asked them if we upgraded back to the Preferred card would we be able to regain the points back. This wasn’t just about the points. I wanted her to stay in good standing with American Express and it was my mistake. They told us that they could do that, but we would have to spend $2,000 in 3 months again to get the 25,000 points back. Also we would have to keep the Preferred version of the card open for the next twelve months. I was okay with these terms because I made the mistake and broke the contract.
American Express has always been good to me and I believe they have the best customer service in the industry. It never hurts to call credit card companies and ask for something. They are not the cable companies.
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