Membership Rewards will devalue from 1st Nov 2015

[wxxnxs]

Hi Everyone,

"Great" news for all of AMEX card holders, another "Enhancement" is on the way. Below is from my latest statement:

Cardmember Offers and Information

Changes to your Membership Rewards program


From 1 November 2015, the name of your Membership Rewards Ascent program is changing to the Gateway program. There will also be some reductions

to redemption rates and changes to redemption options. The key changes are:

Air New Zealand - 400 Membership Rewards points = 3 Airpoint Dollars

Other Airline Reward Partners - 4 Membership Rewards points = 3 Airline Rewards Partner points

Points for Travel - 13,500 Membership Rewards points = $100 of travel.

Redemptions at webjet.com.au, Rewards Concierge and transfers to Virgin Atlantic will no longer be available. For full details of redemption

options in Membership Rewards Gateway visit membershiprewards.com.au/termsandconditions.

Remember you can still redeem your Membership Rewards points at current redemption rates until 31 October 2015. We have a large range of Cards at

amex.com.au. We can help you find a new Card if this would better suit your needs.

 

[Virgin Bart]

Well this sucks.. Is there any good news? Or even great?

 

[scwappy]

Maybe not changing for SPG transfers?

 

[wxxnxs]

Well this sucks.. Is there any good news? Or even great?

I don't think there will be any great news in near future, except maybe from Citibank.

 

[wxxnxs]

Maybe not changing for SPG transfers?

Best wishes.

 

[Sharp75]

This sucks. If I knew this I would have transferred all my points to Virgin last month when they had 15% bonus.

And I was just reading this how AMEX transfer hundreds of millions dollars to US every year to avoid paying tax in Australia. Just pure greed.

http://www.smh.com.au/business/the-...peration-for-seven-years-20150611-ghlg6t.html

 

[Supersonic Swinger]

For people who have received the email, what Amex card do you have? The terms and conditions link posted by the OP includes the statement:

Below information is applicable only to the Card Members notified about Membership Rewards Gateway:

Below are still all the old Ascent etc. T's & C's.

EDIT:I just spoke with Amex, apparently the change only applies to cards with no annual fee. If you're paying a fee, the old transfer rates continue to apply.

 

[wxxnxs]

For people who have received the email, what Amex card do you have? The terms and conditions link posted by the OP includes the statement:

Below information is applicable only to the Card Members notified about Membership Rewards Gateway:

Below are still all the old Ascent etc. T's & C's.

EDIT:I just spoke with Amex, apparently the change only applies to cards with no annual fee. If you're paying a fee, the old transfer rates continue to apply.

Thanks for your information.

I only discovered the information from the latest statement not via email, and the date for changing is 01/11/2015, I would recommend everyone here to check your statement from now on until Nov, as no one can guarantee the change will only apply to certain card holders.

 

[NM]

Maybe not changing for SPG transfers?

There are no hotel partners identified in the information published by American Express about the new Membership Rewards Gateway program.

If my Amex Platinum Credit Card is forced to move from current Ascent program to his new Gateway program, then that will signal the end of my 22 relationship with Amex as I will not be renewing at my October anniversary date.

 

[NM]

For people who have received the email, what Amex card do you have?

My most recent statement is dated 19th May and no mention there of any changed. The OP said the information was included in their current statement. So I will be looking closely at my June statement in a week's time.

I have Amex Platinum Credit Card (previously called Platinuim Edge)

The terms and conditions link posted by the OP includes the statement:

EDIT:I just spoke with Amex, apparently the change only applies to cards with no annual fee. If you're paying a fee, the old transfer rates continue to apply.

I pay an annual fee ($149), which I believe includes the Ascent membership and also entitles me to a free return airfare (on Virgin) each year. So if that free airfare remains part of the package, I may retain the card just for that but not put any other spending on it. I just made a booking this week to use the airfare and the cheapest paid options for the flights I booked totaled $450 so that represents good value for the annual fee.

 

[uiopui]

I checked a days old Amex Platinum Edge statement and Gold Charge Card statement and neither had anything on program devaluations so hopefully its limited to other cards.

 

[Supersonic Swinger]

The rep I spoke to said that this only applies to any fee free Amex cards.

Given that the only fee free card they currently offer is the Low Rate card which doesn't offer MR, I suspect this is a way of squeezing out people holding Amex cards which are fee-free but no longer open to new applications, and pushing people to upgrade their card. Or likely cancel depending on how you feel about the 'enhancement'.

Which confirms my suspicion that any 'fee-free-for-life' cards or even lifetime airline status are all up for slow enhancement whenever the marketing department financial dashboards say they need to be...

 

[wxxnxs]

The rep I spoke to said that this only applies to any fee free Amex cards.

Given that the only fee free card they currently offer is the Low Rate card which doesn't offer MR, I suspect this is a way of squeezing out people holding Amex cards which are fee-free but no longer open to new applications, and pushing people to upgrade their card. Or likely cancel depending on how you feel about the 'enhancement'.

You might be right, I forgot to mention the card I'm holding at the moment is fee free but with rewards, through one of the professional institutions, it is a affinity card.

 

[Supersonic Swinger]

You might be right, I forgot to mention the card I'm holding at the moment is fee free but with rewards, through one of the professional institutions, it is a affinity card.

In which case you should upgrade to one of the higher level affinity cards which offers a free flight. That way you still earn MR 1:1 and get more value out of the flight than you pay for the fee. If Amex are going to pinch pennies, so should you.

 

[JohnK]

This is potentially bad news. Keep in mind future devaluations. Use points quickly?

I am paying $80/year membership fee.

 

[Sharp75]

I have Amex Platinum Credit Card (previously called Platinuim Edge)

I pay an annual fee ($149), which I believe includes the Ascent membership and also entitles me to a free return airfare (on Virgin) each year.

I find your post confusing. I have the same card. it is called Platinum Edge and it's a current card. AMEX does not have any card called Platinum Credit Card anymore. There is Platinum Card, which is a much more expensive card ($1200/year).

Plus AMEX increased Platinum Edge credit card fee to $199/year this year for existing customers (For new customers it's been already $199 for a while) so I don't think your fee for is $149 (or If you haven't had your anniversary yet, you will pay $199 on your anniversary).

If you're saying they upgraded your card from Platinum Edge to Platinum card and you're still paying $149, I'd say, you're getting one hell of a deal!!!

 

[JohnK]

I find your post confusing. I have the same card. it is called Platinum Edge and it's a current card. AMEX does not have any card called Platinum Credit Card anymore. There is Platinum Card, which is a much more expensive card ($1200/year).

I have a Platinum Rewards credit card. I was forced onto it when they closed my old fee free Gold credit card. I pay $80/year fee. It used to be for Ascent membership but now that is included as part of the Platinum Rewards credit card.

 

[yohy?!]

No bad news for me as yet but I'm warily keeping an eye out for mail re: my Free For Life Plat Edge (No Annual Fee or Ascent Fee),

I imagine I'm in the crosshairs of this one!!

 

[dajop]

I have a Platinum Rewards credit card. I was forced onto it when they closed my old fee free Gold credit card. I pay $80/year fee. It used to be for Ascent membership but now that is included as part of the Platinum Rewards credit card.

Same here. I still pay $80/year. Not so eagerly awaiting my June statement to see what it says.

 

[lovetravellingoz]

From 1 November 2015, the name of your Membership Rewards Ascent program is changing to the Gateway program. There will also be some reductions

to redemption rates and changes to redemption options. .

So looks like the key thing is to not to end up in the Gateway program, and to stay in one of the Ascent Programs

I am currently in the Ascent Premium Program.