* when pressed for examples CSR cited: small purchases, buying then returning item straight away, paying bills in increments (NOT monthly installment types).
Yup, this is going to be interesting - as someone that moved their twice daily (morning and evening) coffee purchases of $2-3 onto Amex (switching coffee shops, too, I might add), I'm going to be interested to see what they think of this. For me, it's an everyday expense, and justified - but it will remain to be seen what they think of it. Previously I used to buy Wish and Coles "gift cards" through a company that provided me with a 5% discount on their face value (i.e. buy $1000 worth of Wish cards and only pay $950), but they only accepted Visa/Mastercard for purchasing - I would then transact daily or more often using the gift cards at Woolworths/Woolworths Liquor/Coles/DS Electronics/Dan Murphy's/Woolworths Petrol, etc. Now all of those daily transactions are going on the Amex. Amex is getting a lot more business from me as a result.
I've been transacting often - I used to do many small cash transactions through the day as most of the places I have didn't accept Amex for small transactions, but with the impetus provided by Amex with this promotion, I've now found places that will take them and I haven't bought anything with cash or Visa since the promotion started now. All of my expenses are now with Amex, and I've switched businesses to those that take it now.
I can safely say that Amex gets all my expenses (at least until something like council rates come up that can't be paid by Amex!)
It is a very good promotion and I'm glad that there is some certainty coming out of Amex now - uncertainty was preventing me from making some "should I or shouldn't I?" purchases (high cost items that I want to buy, but have been delaying purchasing). With certainly, I will likely spend on them.
It should be noted that with the economic downturn, retail spending is down and this would likely be hitting Amex pretty hard - I imagine that the increase in market share that hopefully is coming Amex's way as a result of this promotion is substantial, and I hope it does improve Amex's overall revenue.