Amex "I'm going to cancel my card" - bonus points given thread.

[foggy]

But only if you actually need them and use them all.

.

I've found success selling the ones I don't use on OzBargain. As long as the offers roll in, just know there is a market place for ones you don't need, energy ones, Harvey Norman even baby bunting.
Then there is selling the statement credits at probably a 20-30% discount. These should cover the annual fees assuming you have the 5 cards per amex.

 

[albyd]

Just called Platinum and after some delay was out through to Sydney office.

I suggested they consider grandfathering pre devaluation points at the old rates as a concession that might be well received. Said will suggest it. I’m not sure will get far but would avoid forced transfers to KF, etc where we have 3 year expiry.

Still no retention bonus points offered but was welcome to downgrade to the Gold charge card.

Told me I was one of Amex's higher spenders. Asked if it was enough for Centurion invite down the line. Said I could request consideration (assuming not spending enough for an invite). Any Centurion holders on AFF received an incentive to join? I think $5000 is a bit High to try it out unless slight extra points earn can offset the higher annual fee.

 

[lilkid28]

Just called Platinum and after some delay was out through to Sydney office.

I suggested they consider grandfathering pre devaluation points at the old rates as a concession that might be well received. Said will suggest it. I’m not sure will get far but would avoid forced transfers to KF, etc where we have 3 year expiry.

Still no retention bonus points offered but was welcome to downgrade to the Gold charge card.

Told me I was one of Amex's higher spenders. Asked if it was enough for Centurion invite down the line. Said I could request consideration (assuming not spending enough for an invite). Any Centurion holders on AFF received an incentive to join? I think $5000 is a bit High to try it out unless slight extra points earn can offset the higher annual fee.

Not sure why you are considering a Centurion when the devaluation is not too far away...?

Please, all savvy users just cancel all your Amex cards. We need like somewhere along the lines 6 figures of Amex cardholders cancelling their cards. Why pay more for a card that earns the same as a Visa card which is more widely accepted?

 

[albyd]

I'd only consider it if there were a concessional offer to give it a try and based on my spend. Here, everyone's situation will differ.

If we look at uncapped Visa, there's not many of them around with best at equivalent of 0.75 FF/$ spend. Depending on your spend, you might be able to fit into A MC/Visa monthly cap at 1:1 in which case, Amex doesn't make sense at all.

For most Amex cards, I reckon the earn rate of 1 FF/$ spent means that there's insufficient difference like you say for most people to bother with carrying an Amex and have the stigma of asking if Amex is accepted and paying a surcharge for the privilege (assuming AFF members don't represent the majority who aren't as engaged about this stuff so April will come and go and they'll be oblivious).

For more expensive cards like Platinum at 1.125 FF/$ spent and Centurion 1.25 FF/$ spent (you need to be spending quite a bit for that extra earn rate to breakeven on the extra annual fee depending on how much you value your points on redemption), the difference is larger (50% more) for Amex than Visa using my example above. Might be worth considering but certainly the simpler to manage path is MC/Visa (assuming no further devaluations in the short term). That's not as good as the difference we've enjoyed traditionally but more recently, it's blown out with Bank Cards devaluing and Amex holding the line and pushing Gateway to the fore as a shadow devaluation.

 

[Daver6]

Please, all savvy users just cancel all your Amex cards. We need like somewhere along the lines 6 figures of Amex cardholders cancelling their cards. Why pay more for a card that earns the same as a Visa card which is more widely accepted?

While I'd love this to happen, I think too large a proportion of customers aren't nearly as concerned/savvy about this devaluation to do anything about it.

 

[SoftDraw]

Data point:

Called today for my explorer card. Was offered 80,000 not to cancel. Took immediately, I have it linked to ascent so an easy 80k top up.

Average spend of 6-7k a month (however this was significantly higher during the IG fanfare).

Annual fee not due till May.

 

[ajd]

Called today about my Explorer. I'm a <$2k/month spender. They didn't offer points, but they did offer a transfer to a Plat Edge with a 1:1 MR Gateway to MR Ascent conversion, which for my current point balance amounts to an effective 18,000 point bonus on airline transfers for the time being.

I've accepted it, the Ascent conversion well outweighs the dip in everyday spend points until April, having only a $200 travel credit vs $400 actually makes it easier to spend, and I'll reassess in a couple of months.

 

[DC3]

... the operator offered 25,000 Qantas points straight up to keep me on. Not to knock back a good offer I said yes - they said it would take a few days for them to appear in my account. I'll let you know when they appear.

Did the points appear as it’s been two weeks now?

 

[lilkid28]

Data point:

Called today for my explorer card. Was offered 80,000 not to cancel. Took immediately, I have it linked to ascent so an easy 80k top up.

Average spend of 6-7k a month (however this was significantly higher during the IG fanfare).

Annual fee not due till May.

Did you try to cancel this card before? Or when was the last time you get a retention bonus for this card/account?

 

[SoftDraw]

Did you try to cancel this card before? Or when was the last time you get a retention bonus for this card/account?

No I haven’t tried to cancel it before. I called them up and canceled my David Jones card and then straight out said is there a retention offer on my explorer as I am thinking about cancelling it due to the devaluation then he offered the 80k. Said it will take up to 3 days for them to post which is strange as most people said they post immediately which they haven’t. I also received a 70k offer on my Qantas Amex last year.

 

[kookaburra75]

Did the points appear as it’s been two weeks now?

Yes - they appeared just over a week.

 

[Sharp75]

Just called to cancel my Platinum Edge (and to find out what's on the offer). I've been an amex customer for 12 years and put around $100k/year. The rep offered me absolutely nothing, he tried to tell me devaluation is needed to be more competitive in the market etc and I cancelled it.

 

[SOPOOR]

Just called to cancel my Platinum Edge to find out what's on the offer. I've been an amex customer for 12 years and put around $100k/year. The rep offered me absolutely nothing, he tried to tell me devaluation is needed to be more competitive in the market etc and I cancelled it.

I had fun with them yesterday (as per another thread)
and it went something like this

devaluation, according to them, its a positive move because i now get increased petrol and os spend

I told them a 25 % increase followed by 50% decrease is negative

However ita stil positive because we can exchange points for gift cards and credit.

I told them you're also cutting them as well, so how is that positive?

However its still positive because theyre giving us 5 months notice

That was a fun argument

 

[ajd]

I had fun with them yesterday (as per another thread)
and it went something like this

devaluation, according to them, its a positive move because i now get increased petrol and os spend

I told them a 25 % increase followed by 50% decrease is negative

However ita stil positive because we can exchange points for gift cards and credit.

I told them you're also cutting them as well, so how is that positive?

However its still positive because theyre giving us 5 months notice

That was a fun argument

Yep, the rep tried that with me... before I mentioned that I'm an Explorer holder and so the only category that gets increased points earn is government.

 

[SOPOOR]

Yep, the rep tried that with me... before I mentioned that I'm an Explorer holder and so the only category that gets increased points earn is government.

but thats a positive!

 

[liuyz]

I had fun with them yesterday (as per another thread)
and it went something like this

devaluation, according to them, its a positive move because i now get increased petrol and os spend

I told them a 25 % increase followed by 50% decrease is negative

However ita stil positive because we can exchange points for gift cards and credit.

I told them you're also cutting them as well, so how is that positive?

However its still positive because theyre giving us 5 months notice

That was a fun argument

They are experts on telling jokes, but in a non-professional way. This makes themselves a joke.

 

[Welsh-Kiwi]

I’m based in NZ. I have a Platinum Edge card. Spend around NZ$2,000 per month. My annual fee is due in a few weeks. I called up requesting a retention bonus to help with my decision whether or not to keep the card and was offered 33,000 points. Points posted a few hours later. Easy points!!

 

[Oubline]

When you switched to the Edge card did they make you pay the annual fee for the Edge straight away?

Called today about my Explorer. I'm a <$2k/month spender. They didn't offer points, but they did offer a transfer to a Plat Edge with a 1:1 MR Gateway to MR Ascent conversion, which for my current point balance amounts to an effective 18,000 point bonus on airline transfers for the time being.

I've accepted it, the Ascent conversion well outweighs the dip in everyday spend points until April, having only a $200 travel credit vs $400 actually makes it easier to spend, and I'll reassess in a couple of months.

 

[andyyle]

I've call AMEX 3 times in the last 3 months. I have the QFF premium and Explorer. 3 months ago i called to cancel QFF, and they credited me with 100k bonus. I havent used this card at all in the last year. Last week i called QFF to cancel again cause i don't even use it lol, they credited me another 100k. I just got off phone in regards to explorer, and they said whatever balance i have in my gateway by 1am 15 April, they'll match and credit me the same. eg, 150k bonus if i have 150k points.

My anniversary dates are March for QFF, and October for Explorer.

 

[SOPOOR]

I've call AMEX 3 times in the last 3 months. I have the QFF premium and Explorer. 3 months ago i called to cancel QFF, and they credited me with 100k bonus. I havent used this card at all in the last year. Last week i called QFF to cancel again cause i don't even use it lol, they credited me another 100k. I just got off phone in regards to explorer, and they said whatever balance i have in my gateway by 1am 15 April, they'll match and credit me the same. eg, 150k bonus if i have 150k points.

My anniversary dates are March for QFF, and October for Explorer.

I would have thought they just look at your account history and say that youve already got a bonus