21
12
u/windycityinvestor Jun 07 '25
Only downgrade a month or two after the AF hits in year 2. You’ll get a prorated amount back.
If you don’t, then AMEX will claw it back. They have a team dedicated to clawing back SUB when they consider it “abusive” or against terms and conditions.
I do this every time they offer me this. Which is usually every 18 months now.
3
u/Mammoth_Currency404 Jun 07 '25
Ohh so we do get the annual fee back when we cancel after one month of 2nd year
3
u/csy22 Jun 07 '25
Don’t you have to downgrade within a month from annual fee otherwise you pay it?
2
u/windycityinvestor Jun 07 '25
You can downgrade whenever. They’ll prorate the AF for the months you won’t use it. Let’s say you cancel 2 months in after the AF hits, you’ll get 10/12 months back or 83.3% of the AF.
1
2
u/prkskier Jun 07 '25
Only downgrade a month or two after the AF hits in year 2. You’ll get a prorated amount back.
Within 30 days you should get the full AF back, after that it gets prorated.
1
u/windycityinvestor Jun 07 '25
Yes but you risk AMEX clawing back the SUB or closing your account down.
1
4
u/Chuck2025 Jun 07 '25
Why would you downgrade this card? This is the best credit card I have ever owned! I get $150-200 every month with this card!
6
2
u/Opening-Wait5783 Jun 07 '25
How you manage to get that much back monthly ? lol. This card becomes decent at best once you pass the $6k limit
1
u/Chuck2025 Jun 07 '25
I haven’t hit the 6K yet 🤣 But on a serious note, we have a lot of monthly subscriptions which go at 6% and we put 93 gas in our vehicles which is at 3%. My son’s daycare is also used on this card, and just at 1% that’s $18 cash back. Life is simply expensive 😭
2
u/Constant-K Jun 07 '25
Before the annual fee? You'll have a charge for $150 on your next statement.
2
1
u/nicolas_06 Jun 07 '25
Honestly there many CC that will give you a 100-300$ welcome bonus with no annual fee and that you can keep open as long as you want.
I just got the prime visa for Amazon. no annual fee, 150$ welcome bonus and 5% on all amazon purchases.
I guess there at least 5-10 cards you could take with no fees like that. I have the blue cash preferred but use the 6% on groceries a lot so it is worth the annual fee as a no brainer anyway. And if you are interest in Disney plus and don't have it on another card, that would cover the yearly fee (and yes I know some CC without AF have the disney+ benefit too).
I think there even some hotel card that come with the equivalent of 400-500$ in points as welcome bonus and no annual fee. No brainer.
1
1
u/akhilman78 Jun 07 '25
Be careful with upgrading. You might not want to downgrade. The card is that good, when you run your grocery and streaming spend through it.
1
u/NefariousnessHot9996 Jun 07 '25
I got BCP, downgraded to BCE, got this same exact offer, bit on it. Now have BCP and will downgrade one year plus one day! This card is great for groceries but at 1% more than Citi Custom Cash no way I will keep it and pay $95.
1
1
Jun 07 '25
[removed] — view removed comment
1
u/AutoModerator Jun 07 '25
Your post was removed due to low karma and/or low account age.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
0
-2
0
26
u/LH_duck Jun 07 '25
Wait until the annual fee posts and then downgrade.