Firstly thank you for that most interesting and instructive post.
What I was pointing out was that Amex's offer to give you extra, free, MR points isn't a contract (as far as I can tell). You aren't providing anything back in return (quid pro quo), and as such not enforceable under Common Law contract. (not to say that there aren't various piece of legislation passed by Parliament that might prevent Amex from reneging on their offer).
Now as a disclaimer I am no expert in law...let alone contract law...so pardon my no doubt poor interpretation coming up.
You have indicated that I (or Cardmembers) are not providing anything in return.
However it would seem to me that I have.
1/ Amex made to me a direct offer to go out and
increase the number of my transactions and i return they offer to reward (pay) me 1000 MR points per transaction.
Now I saw this as a clear bounty or payment.
Indeed examaination of my spending patterns clearly demonstrate that I have markedly incresed the number of transactions as a result of Amex offer to pay me 1000 points per transaction.
Indeed examination of my VISA account would indicate a marked decline in custom there.
2/ In addition Amex takes a % of any transaction I make. Therefore it would also seem to me that I am priding to Amex $ in the form of commision.
They only make this commission if I choose to use my Amex as payment fora goods or service.
By amex agreing to pay me bonus points I have in return made more transactions. This has also increased the commission that Amex has returned.
Now if Amex only had the realtinship with the stores and not me there would have been no increase in tansactions or spend.
This increase has been due to Amex "contracting" with me to make transactions with my Amex Card. It is pays me for effort with a linear relationship based on points per transaction.
Now as stated....I have no real detailed knowledge of contracts...so
AnonymousCoward (as you are i assumed trained in this field) perhaps if you would so kind you can clarify as to why I am not providing anything back in return.
It would seem to me that I am in time, in transactions.....and also in $$ as there are some businesses such as JB HiFi who charge an additional commission . Now this cost me more money.
Now some may say this is with the Shop. but I would imagine the businesses who in the main charge this extra commission are ones whose deal with amex is to pay them a higher commission.
This means to me that my now choosing to pay with amex rather than Visa due the points means that amex is being delivereda benefit from me that it otherwse would not have gained if it had not contracted with me to pay me 1000 bonus points for the transaction.