10,000 bonus points per 20 transactions

[NM]

Re: AMEX and small transaction values

The whole minimum spend thing always seems like a bit of a wank really, given that the merchant fees are just pro rata and there seems to be no real reason for not taking say $5 on a card. Sure it's maybe 30 seconds of staff time to handle the swiping, but not really so much different to say issuing change from a $20 note or some such. (And, in combination with the first point, if no signature was needed on a very low value transaction it would save everyone some time too).

Different merchants have different ways of "connecting" to their bank to process the transaction. Large establishments have a permanent dedicated link to their bank. But smaller merchants connect via a regular telephone line which often uses an 1300 type phone number to dial the bank. That call costs the merchant a fixed flag-fall rate each time a call is made. This is one key reason some smaller merchants do not like to use EFT (not just Amex, but any EFT processing) for small transactions.

 

[js]

Re: AMEX and small transaction values

Different merchants have different ways of "connecting" to their bank to process the transaction. Large establishments have a permanent dedicated link to their bank. But smaller merchants connect via a regular telephone line which often uses an 1300 type phone number to dial the bank. That call costs the merchant a fixed flag-fall rate each time a call is made. This is one key reason some smaller merchants do not like to use EFT (not just Amex, but any EFT processing) for small transactions.

No doubt different merchants have different ways of doing things. For what it's worth, we are on dialup, but to a 1800 number so the bank wears the call costs, not us. So a 1 cent transaction costs us just the x.xx% of 1c (and no, before anyone asks, I have not put thru any transactions of any value through our own facility for this promo )

And actually, back to my original rant, even if a particular merchant (restaurant, let's say) did have a fixed fee, I would usually be quite happy to wear it. e.g. on a $6 lunch I would still happily pay say a 30c fee if they'd let me pay by AMEX. Even before this promo I had a strong aversion to using cash - now it is almost absolute (literally only two transactions non-AMEX since the promo started - one haircut as I couldn't bear to go to a new place as I'm good mates with the guy; and one water bill I had no choice about).

 

[NM]

Re: AMEX and small transaction values

No doubt different merchants have different ways of doing things. For what it's worth, we are on dialup, but to a 1800 number so the bank wears the call costs, not us. So a 1 cent transaction costs us just the x.xx% of 1c (and no, before anyone asks, I have not put thru any transactions of any value through our own facility for this promo )

I know of one financial institution (not an Australian bank) that recently moved their merchants from a free local call setup to the equiv of a national 1300 service. So the merchant now pays the call costs, but they reduced the service fees to "compensate" for the change. This was part of a significant POS redesign project that is flagged to reduce the bank's operating costs. The bank picks up the cost of the 1300 service and the long-distance charges and the merchant pays the flag-fall fee. Previously the merchant POS machines dialled locally onto the bank's regional centres and the transactions were then carried over the bank's network to the data centre, resulting in significant infrastructure support costs.

But either way, the merchant is going to be paying for the bank's infrastructure and operating costs (the 1800 calls), even if it is indirectly as a monthly service fee.

 

[one9]

Re: AMEX and small transaction values

We've certainly been doing our bit to seek out new merchants taking AMEX and pressure those that don't (either directly or just by walking out when they say "no AMEX" - making sure they know why).

Two thoughts that would certainly help me to use my AMEX a lot more - not just for the promo but on an ongoing basis:

1. No signature required for very low value transactions (say under $10). Actually had my local butcher do this the other day unexpectedly for a $5 transaction. I was waiting to sign and he said "No worries, you don't need to sign for that amount". That would make it more convenient as a cash replacement, saving some time for us and for the checkout staff.

2. If AMEX could do something to discourage minimum spend on cards I'd certainly appreciate it. Obviously it would be nice during the promo, but on an ongoing basis there are at least 3 restaurants within spitting distance of work that I would eat at one of every day if they would allow their lunch specials (about $6) to be put on AMEX. As it is with $10 or $15 minimums I have almost never been for lunch.

The whole minimum spend thing always seems like a bit of a wank really, given that the merchant fees are just pro rata and there seems to be no real reason for not taking say $5 on a card. Sure it's maybe 30 seconds of staff time to handle the swiping, but not really so much different to say issuing change from a $20 note or some such. (And, in combination with the first point, if no signature was needed on a very low value transaction it would save everyone some time too).

I think accepting a credit card payment and signature takes at least a minute. When dealing in a fast paced enviroment (eg food court shop), these extra minutes really add up.

Mastercard has implemented the Paypass feature, where you just need to swipe your card when purchasing items under $35, but this technology has not yet really been rolled out much. I have a CBA card which has the Paypass technology built into it, and I have only seen one shop which has the Paypass credit card machines - McDonalds on George Street near/opposite Dymocks. But when I tried to use it, it wasn't working!

I expect when such technology is rolled out on mass, more and more merchants will accept small credit card transactions.

 

[QF WP]

And popular for buying prams, cots and car seats and change tables...

Do you know something I don't know :mrgreen:??? Ah, read further and saw your comment about Mrs Simongr. Thought you were alluding to Mrs LW - would just hate to spend all this money now pre-empting the actual event.

The biggest hurdle for universal acceptance of Amex has been mrssimongr rather than merchants - she is now fully on board given that this promo might fund her J flight to the UK - maybe even F if the points really ramp up

Exactly the same with me. We now "compare" transaction numbers most nights - she's winning of course :shock:

 

[QF WP]

So it is drinks on you tonight Lindsay? We will easily get you to 70 transactions for the month. What time did you say you are going to be there?

I'll be happy to buy the first round (using my Amex) for whomever is there when I arrive . I'll be there somewhere between 5,15 and 5.30pm.

Had lunch with a client and a taxi back to St Pauls Terrace - another 2 transactions. Today I might just beat Mrs LW on transactions...

 

[simongr]

Do you know something I don't know :mrgreen:??? Ah, read further and saw your comment about Mrs Simongr. Thought you were alluding to Mrs LW - would just hate to spend all this money now pre-empting the actual event.

Exactly the same with me. We now "compare" transaction numbers most nights - she's winning of course :shock:

There was a special deal on - buy three things and get 20% off - sadly the size of teh cash savings reflects how much we spent in total :shock:

 

[QF WP]

Has anyone signed up any supplementary cards to boost their points?

I wasn't sure if they would count if they are new supplementary cards.

IIRC, they had to be "in force" on the day you signed up, to be eligible for the promo. Otherwise my parents would have had new cards on 18th September.

 

[lovetravellingoz]

IIRC, they had to be "in force" on the day you signed up, to be eligible for the promo. .

IIRC I am not sure this was ever really clarified?

Though many have speculated or wondered.....

 

[AussieMark]

Ah thanks, hah yeah I can imagine people getting carried away.

I was going to get one for my mum and brother but then I thought my brother may get carried away with it haha.

So perhaps not

 

[snufl]

There is no way we'd give our daughter a supp card. Geez, the mind just boggles at the number of transactions she could rack up. Our goal is to increase points...not flirt with bankrupcy

 

[vet]

A p.m claims Amex has written 'effectively halving the points' for a person who joined pre 20/9/08 on the uncapped 5k/5t promo.

Sally Thompson is a case officer at [email protected] who is asking Amex to resolve matters directly with aggrieved customers by late November. "If the dispute is not resolved by then, in order for this office to investigate the issues ... please return the enclosed Authority form'. I will be asking FOS to investigate everything conceivable, particularly given ASIC's Cathy Wilson (Misconduct & Breach Reporting) says ASIC investigates matters refeered to it by the Financial Ombudsman. Amex simply can't change terms willy nilly.

 

[QF WP]

There is no way we'd give our daughter a supp card. Geez, the mind just boggles at the number of transactions she could rack up. Our goal is to increase points...not flirt with bankrupcy

Now that almost made me empty my mouthful of tea all over my laptop. Lucky I turned away...and it didn't go up my nostrils :mrgreen::mrgreen: (but will test the stain resistance claim of the office carpet). Did get a couple of weird looks from my staff though

 

[QF WP]

IIRC I am not sure this was ever really clarified?

Though many have speculated or wondered.....

That's why it was IIRC , I can't be sure of anything in this pomotion anymore

 

[Kazi]

Has anyone signed up any supplementary cards to boost their points?

I wasn't sure if they would count if they are new supplementary cards.


I went to get a gold American Express Qantas Supplementary card but it says $30 on their website. On the qantas site and my original offer it says $0...

I called them a couple of weeks to enquire about a new Supplementary card. I asked what plan I was on. She replied, 5k/5T (this is prior to the letter which now states I am on 5K/10T).

Then, I asked, if I applied for a new Supp card, will the new Supp card be able to obtain unlimited points in the same way as my current card?

She replied "Yes" because my current card was registered for this promo pre-20 sep.

Then I asked for confirmation because I said that I am NOT going to apply for one if the same promotion will not apply to the new Supp card. She said, don't worry, it will.

So, I said, send me the forms for the new Supp card and just a few days ago, the cost for the new Supp card was deducted from my current card.

So, if they REFUSE to honor the new Supp card with the same promotion as my current card (unlimited points, etc). I will definitely be calling them back and asking them to refund the amount I paid for it. I made myself very clearly when I applied.

 

[AussieMark]

Thanks for sharing Kazi,

What card did you get the supplementary for?

 

[Kazi]

Thanks for sharing Kazi,

What card did you get the supplementary for?

AMEX Reward Maximiser.

Not cheap too @ $36.

 

[lovetravellingoz]

A p.m claims Amex has written 'effectively halving the points' for a person who joined pre 20/9/08 on the uncapped 5k/5t promo.

.

If they were enrolled in all three bonuses and were restricted to just the 5k/5 bonus the effect would be that bonus points would be halved.

5k/5t = 5k/10t + 10k/20t
1 = 0.5 +0.5

 

[holo]

If they were enrolled in all three bonuses and were restricted to just the 5k/5 bonus the effect would be that bonus points would be halved.

5k/5t = 5k/10t + 10k/20t
1 = 0.5 +0.5

more referring to the fact that those of us on 5'/5000 are being switched to 10/5000 i think.

 

[simongr]

48 Hours are up - no reinstatement of "stolen" points so another call this afternoon to notify them that I will be referring this to the relevant authorities.
S