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Mercedes Benz Platinum Cardholders Can Get Prorated Annual Fee Refunds
I wrote about the change over that American Express is doing to Mercedes Benz Platinum card holders earlier this week. On January 11, 2019 all cardholders will be transitioned to the regular Platinum version. This is not a big deal for most people but I discussed why it is very big news for some card members. The change could end up costing people a shot at 100,000 Membership Rewards points. There was something I overlooked with this announcement though. Readers GL, Ryan Z, and Daniel S commented that Mercedes Benz Platinum cardholders can get prorated annual fee refunds.
Prorated Annual Fees
After reading this and seeing 3 separate confirmations of the prorated refund I checked my paperwork. Sure enough on the back of the paperwork it said:
In addition, cancelling your card will result in a prorated credit for any annual membership fee paid in the last year.
That is unique since American Express stopped prorating annual fees for their cards (besides downgrades) a few years ago.
With all of the Platinum card perks you get after the first of the year it would make sense to cancel the card after those are used. It also makes sense for a lot of people to just hold onto the card and go ahead with the product change. But I think it was important to highlight this information so you could make the best informed decision for yourself.
Let me know what your plan of attack is in the comments section.
Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.