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Trying to reopen a canceled Amex card? You'll have to pay a $25 fee for that

May 9 2020
3 min read
Trying to reopen a canceled Amex card? You'll have to pay a $25 fee for that
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If you recently canceled a premium American Express card and now regret it, you may not be too happy to hear that Amex is charging a $25 fee to reinstate canceled cards, as first reported by Doctor of Credit.

Additionally, the $25 fee will not go toward the annual card fee. The canceled card is also still subject to approval, which could take up to 10 business days.

Related: Here's why you should never close your credit card before the one year mark

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With travel restrictions in place due to coronavirus, many cardholders couldn't justify the high annual fees on some of the premium cards like the Amex Platinum, therefore decided on canceling. It wasn't until May 1 that Amex announced it would be adding new credit card perks as a part of its coronavirus response.

However, now that there's new, more applicable statement credits available for purchases such as streaming services, wireless phone service and prepaid trips, it's not surprising that people are reopening closed accounts.

While a reinstatement fee is certainly annoying, if you can really max out and find value in the new perks it may be worth reinstating.

If these new perks still don't make sense for you, it's worth considering your options before canceling your card.

Alternatives to canceling a credit card

As a general rule of thumb, you shouldn't go canceling your credit cards willy nilly. Instead, you should consider other, less credit damaging options first.

Ask for a product change

If it's a pricey annual fee that's pushing you toward canceling, consider downgrading to a lower or no annual fee option instead. For instance, if you can't justify forking up the $695 for The Platinum Card® from American Express (see rates and fees) during these uncertain times in travel, call Amex and see if you can switch to a card like the American Express® Gold Card, which could offer you a lot more value due to its high earnings on takeout and groceries at U.S. supermarkets.

Related: No travel, no problem: 6 Amex Platinum benefits you can use from home

Ask for a retention offer

As the saying goes, "it never hurts to ask" — and that's especially true when it comes to credit card issuers. No business wants to see its customers leave, which is why issuers will often offer some sort of retention offer in points or cash to keep you. It's not guaranteed, but it's most definitely worth a shot.

Related: Your ultimate guide to credit card retention offers

Featured photo by Isabelle Raphael / The Points Guy.

For rates and fees of the Amex Platinum card, click here.

Featured photo by (Photo by Isabelle Raphael / The Points Guy)
Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

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  • Limited Time Offer: Earn 100,000 Bonus Marriott Bonvoy Points after spending $4,000 in purchases on your new Card in your first 3 months of Card Membership. Offer expires 11/2/22.
  • 6x points at hotels participating in the Marriott Bonvoy® program.
  • 4x points for purchases made at restaurants worldwide, at U.S. gas stations, on wireless telephone services purchased directly from U.S. service providers and on U.S. purchases for shipping.
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Apply for Marriott Bonvoy Business® American Express® Card
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Best Marriott card for Business Owners
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
3 / 5
Go to review

Rewards Rate

6X6x points at hotels participating in the Marriott Bonvoy® program.
4X4x points for purchases made at restaurants worldwide, at U.S. gas stations, on wireless telephone services purchased directly from U.S. service providers and on U.S. purchases for shipping.
2X2x points on all other eligible purchases.
  • Intro Offer
    Limited Time Offer: Earn 100,000 Bonus Marriott Bonvoy Points after spending $4,000 in purchases on your new Card in your first 3 months of Card Membership. Offer expires 11/2/22.

    Limited Time Offer: Earn 100,000 points
    75,000 points
  • Annual Fee

    $125
  • Recommended Credit
    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

    670-850
    Excellent/Good

Why We Chose It

The Marriott Bonvoy Business Amex is a stacked card with a rewards rate that will help you earn bonus points on everyday and business-related purchases. You'll earn 15 elite night credits each calendar year, and receive automatic Gold elite status. Finally, the free night award certificate with a redemption level of 35,000 points or less can get you hundreds of dollars in potential value each year.

Pros

  • 6x points on eligible purchases at hotels participating in the Marriott Bonvoy program
  • 4x points at restaurants worldwide, U.S. gas stations, wireless telephone services purchased directly from U.S. service providers and U.S. shipping
  • 2x points on all other eligible purchases
  • Earn a free-night award each card renewal month (up to 35,000 points)
  • Receive 15 elite night credits to jump-start status
  • Transfer Marriott points to 40+ airlines

Cons

  • Airline points transfer ratios are poor
  • Must spend $60,000 in a year for second free-night award
  • Limited Time Offer: Earn 100,000 Bonus Marriott Bonvoy Points after spending $4,000 in purchases on your new Card in your first 3 months of Card Membership. Offer expires 11/2/22.
  • 6x points at hotels participating in the Marriott Bonvoy® program.
  • 4x points for purchases made at restaurants worldwide, at U.S. gas stations, on wireless telephone services purchased directly from U.S. service providers and on U.S. purchases for shipping.
  • 2x points on all other eligible purchases.
  • Receive a 7% discount off standard rates for reservations of standard guest rooms at hotels that participate in the Marriott Bonvoy program when you book directly. Terms and Conditions Apply.
  • Receive 1 Free Night Award every year after your Card renewal month. Plus, earn an additional Free Night Award after you spend $60K in purchases on your Card in a calendar year. Awards can be used for one night (redemption level at or under 35,000 Marriott Bonvoy® points) at hotels participating in Marriott Bonvoy®. Certain hotels have resort fees.
  • Enjoy Complimentary Marriott Bonvoy Gold Elite Status with your Card.
  • Terms apply.
  • See Rates & Fees