Hi all,
I just got an Amex credit card start of May, but they’re already wanting to charge the $450 annual fee, even though on their website, it says it’s paid on the card’s anniversary - https://www.americanexpress.com/au/credit-cards/about-credit…
I thought this would mean I pay the first annual fee in May 2023? Is that right or nah? And if so, is there any way to avoid paying that fee?
Cheers
Yeah I got the 100,000 sign on bonus so yeah fair, was just kinda hoping I didn’t have to swing it atm bc I’ve got a lot of expenses this month!
No rebate or statement credit as part of the offer?
You can avoid AmEx annual fees by not getting an AmEx.
V true, however I like the qantas points accruing for my normal spending for cheap flights, alas, never mind
Or get a no annual fee one.
The $450 Qantas flight credit (kinda) offsets this
It's an annual fee, you can't dodge it. Even if you try to close it they'll bill you, it's in the t's & C's
Some credit cards pro-rata the refund (NAB i know does) which is great.
But AMEX does not, the only way is waiting for a promotion to come round and take it out on a zero annual fee basis.
If you could cancel a card within the first month to churn and burn and avoid the annual fee the credit card companies would lose a significant portion of their claw back.
Amex do credit/pro rata refund when you switch cards.
Oooh this is new.
Where's this written?
Haven't seen it listed, but got rebated upgrading to ultimate.
Yeah it gets paid on your 0 year anniversary as well as your 1st and subsequent year anniversaries.
No you are not right and no there is no way to avoid the fee. All cards will put the first annual fee (if they have one) on the first statement.
cancel card
Mate, if you don’t have cashflow for a $450 card fee, might be worth re-assessing whether you should own the card in the first place.
Cash management and ability to repay is 101 of credit card ownership.
I do normally, I’m just considering leaving my job as it’s a really toxic environment so I’d rather keep that money atm yknow. I’ve always paid everything I bought on the credit card either instantly or the next day :) leaving it go longer than that makes me far too anxious haha
Ring them up and say you signed up under the impression that their $450pa fee was refundable.
The fee is annual, as in you pay every year.
There's no way to avoid it (in first year) but you should have received many hundreds of bonus points which should more than offset it.