American Express has sent out letters informing some Morgan Stanley Platinum cardholders that their card is being shut down in the next 60 days.
Before people start panicking it seems like people are receiving these shut down notices for one of two reasons:
- Access accounts were never actually funded
- Morgan Stanley accounts were closed by user
Remember you need to be an active Morgan Stanley user to have this card, so having an unfunded account or closed account won’t work. For more information about this card/access accounts, check out our post Getting the Amex Platinum Morgan Stanley Card, and read these posts by Windbag miles:
- Who wants to be a guinea pig for this potential end-around into a Morgan Stanley Amex Platinum?
- It worked! (For now.) I have a Morgan Stanley Amex Platinum! (For now.)
- Final thoughts on the Morgan Stanley Amex Platinum/Access Investing end-around
Hat tip to echen1024
I opened a MS Access Investing account a month ago (11/22/2022) before the supposed 12/2/2022 cut-off. However, I have not been able to fund my account. Apparently my account opening is still “pennding”. Back on 11/30/22, they asked me to email them my driver’s license and a utillity statement as verification which I promptly did, but for some reason I have still not been verified and calling + emailing MS hasn’t been helpful. I’m tempted to still go ahead and apply for the MS Amex Platinum since I should hopefully be able to fund my account by the time AMEX verifies the account. Or do you guys believe that is too risky? TIA.
Did not receive the initial email/letter but my account was closed yesterday. I received email today saying “account was closed as requested” well I’ll have to see how this turns out
My Morgan Stanley platinum account was closed on Apr 15 and 60K points were taken back on May 1. I am in a -57K Membership reward points territory now. Will have to find out if I get annual fee back or not after 8 months.
Is it possible to receive the bonus if one was already received for another Platinum variant?
Is there an annual fee for this card?
yes
This is terrific news. $400 travel credits, 60k points, $100 saks, and the annual fee refunded. It isn’t my fault that “i moved my money out of Morgan Stanley to another broker”.
Did they refund your annual fee outside of of 30 days?
Don’t laugh yet. They will take back all these benefits you have received and mail a bill to you. Annual fee will be refunded prorated, so you will get nothing but losing part of your annual fee.
Got this exact same letter for my Schwab plat. Happens to be my year is up anyways so it’s no big deal, but for those still in the first year, it’s still possible to keep the card open by opening the brokerage and linking by their deadline. Might be annoying, but probably worth it since you don’t want to mess with having an AMEX card closed within the first year, even in their T&C they list that as a no-no.
Did you ever fund the account? I assume you open the Access Investing account.
Will the welcome bonus be clawed back since my account was opened in less than a year ago?
What if they come for ameriprize?
For the one apply for first year free, it’s not too bad since there was no bonus to be clawed back. For anyone who applies for 60K MR version, well, let’s hope they don’t come for Ameriprise.
Didn’t get the letter. I have a free AAA account that I got through work benefits that has had a few dollars parked in it for umpteen years, but has never had anything invested.
The sky is falling!
lol…it’s okay chicken little…