I still remember the day I got my American Express Gold Charge Card. The excitement was real—the sleek design, the premium feel, and the perks that came with it. Soon after, I applied for the Amex Membership Rewards Credit Card (MRCC), thinking it was a great addition to my wallet. But here’s where things took an unexpected turn.
A friend casually mentioned that if I had applied for the MRCC via referral, my annual fee would have been just ₹1,500 instead of the ₹4,500 I was paying now. That was a massive difference! Naturally, the first thought that crossed my mind was—can I cancel my MRCC and reapply through a referral to get the lower annual fee? And if so, are there any conditions, like a cooling period, that I need to worry about?
Understanding American Express Card Cancellation and Reapplication
Can You Cancel an American Express Credit Card and Reapply for the Same One Later?
Yes, you can cancel an American Express credit card and apply for it again later. However, there are certain rules and conditions that you should be aware of before making a decision.
American Express tracks customer applications, cancellations, and reapplications. While they allow customers to reapply, they often impose a cooling period to prevent misuse of offers.
Now, let’s take a closer look at the MRCC scenario specifically.
Will American Express Accept My Reapplication for MRCC After Cancellation?
While Amex does not have an official policy that restricts you from applying for the same credit card after cancellation, they do monitor applications closely. If they notice frequent applications and cancellations, they might flag your account or deny the new application.
However, in most cases, if you cancel your MRCC and reapply via referral, you should be eligible for the lower annual fee—but you might need to wait for a certain period before doing so.
What Is the Cooling Period for Reapplying for an Amex Card?
The cooling period varies from 6 months to 12 months, depending on multiple factors:
- Your credit history and relationship with American Express.
- Whether you had any outstanding dues when closing the card.
- If you’ve been flagged for frequent cancellations.
Step-by-Step Guide: How to Cancel and Reapply for MRCC with a Referral
If you’ve decided to go ahead with this plan, follow these steps carefully:
Evaluate the Pros and Cons of Cancelling Your MRCC
Before making a decision, consider: Will you lose any Membership Rewards Points when closing the account? How will it impact your credit score? Can you afford to wait for the cooling period before reapplying?
Cancel Your MRCC Card
- Contact Amex Customer Support via phone or chat.
- Request a cancellation confirmation email.
- Make sure you have no outstanding balances before closing.
- Redeem or transfer any remaining reward points to another Amex card.
Wait for the Cooling Period
- Ideally, wait 6 to 12 months before reapplying.
- Keep an eye on your credit score—cancellations can cause a temporary dip.
- If Amex sends you targeted offers, reconsider your strategy.
Apply for MRCC via Referral
- Find a trusted referral link (preferably from a friend or family member).
- Submit your application online.
- Ensure your KYC details match your previous application.
- Wait for approval, which usually takes a few days.
Enjoy the Lower Annual Fee
Once approved, you’ll be charged the ₹1,500 annual fee instead of ₹4,500, saving you money while enjoying the same benefits!
Alternative Options If You Don’t Want to Cancel Your MRCC
If you’re hesitant about closing your MRCC, you might want to explore other ways to get a lower fee:
Request a Retention Offer
- Call Amex Customer Support and ask if they have a retention offer.
- Sometimes, Amex offers fee waivers or discounts for loyal customers.
Upgrade or Downgrade Your Card
- Consider switching to another Amex credit card with lower fees.
- Amex allows some cardholders to upgrade/downgrade without affecting their credit history.
Use a Different Referral Strategy
- Refer friends/family members to earn bonus points.
- These points can offset your annual fee if used wisely.
Frequently Asked Questions
Can I cancel my MRCC and reapply through a referral to get a lower annual fee?
Yes, you can cancel your MRCC and reapply through a referral link, but eligibility for a lower annual fee depends on the bank’s policies and the specific referral offer at the time of application.
Will canceling my MRCC affect my credit score?
Yes, canceling a credit card can impact your credit score, mainly by reducing your credit history length and credit utilization ratio. Consider these factors before canceling.
How long should I wait after canceling before reapplying?
Many banks have a waiting period before you can reapply for the same card, usually ranging from 3 to 12 months. Check with the card issuer for specific reapplication rules.
Will I still be eligible for the welcome bonus if I reapply?
Eligibility for a new welcome bonus after reapplying varies by bank. Some issuers have restrictions on receiving sign-up bonuses if you’ve held the card within a specific period.
Are there any risks in canceling and reapplying for the MRCC?
Potential risks include a temporary drop in your credit score, loss of accumulated rewards, and the possibility of rejection if the issuer considers your recent cancellation. Always check the latest terms before proceeding.
Conclusion
Canceling your Marriott Rewards Credit Card (MRCC) and reapplying through a referral link to secure a lower annual fee is possible but comes with certain risks. While some applicants may benefit from a reduced fee or a welcome bonus, banks often impose waiting periods or restrictions on reapplying. Additionally, canceling a credit card can impact your credit score and may result in the loss of existing rewards.
Before proceeding, carefully review the issuer’s reapplication policies, assess the potential impact on your credit history, and ensure the new offer provides sufficient value. If you’re unsure, consider negotiating a retention offer with your bank instead of canceling outright.
