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

[kamchatsky]

I cancelled both Amex this morning, no offers offered by the CSR .. .. End of an era for me.

 

[boomy]

Will this possibly be available for explorer/platinum edge?

Bonus points for retaining can be given on most AMEX cards and calculated according to combined spend.

 

[woomp001]

Hi all,

After 15 years with AMEX, all of my working life, tomorrow I am cancelling my cards.

I have an Edge and Reserve, and I put thro well over 500k a year, in legit purchases.

I have over 3M points.

Have called 4 times over the last month, and despite the above stats, they insisted every time that it was out of their hands, and that points protection was unavailable.

So even tho I spend over 25 times annually what the average AMEX card holder does, and would easily qualify for a Centurion, based on everything I've read, they couldn't do a thing for me, except retrospective half the value of my existing points balance.

I think an AMEX point was worth 1.7-2.0 cents all day.

So thanks AMEX for just flogging $30,000.

And i think its easy to forget that those 3M points were not free... I incurred significant merchant surcharges acquiring those points.


It's a sad day.. AMEX have been a good company to work with for such a long time, and now they are stabbing good customers in the heart.


Good luck AMEX

 

[SOPOOR]

Hi all,

After 15 years with AMEX, all of my working life, tomorrow I am cancelling my cards.

I have an Edge and Reserve, and I put thro well over 500k a year, in legit purchases.

I have over 3M points.

Have called 4 times over the last month, and despite the above stats, they insisted every time that it was out of their hands, and that points protection was unavailable.

So even tho I spend over 25 times annually what the average AMEX card holder does, and would easily qualify for a Centurion, based on everything I've read, they couldn't do a thing for me, except retrospective half the value of my existing points balance.

I think an AMEX point was worth 1.7-2.0 cents all day.

So thanks AMEX for just flogging $15,000.

And i think its easy to forget that those 3M points were not free... I incurred significant merchant surcharges acquiring those points.


It's a sad day.. AMEX have been a good company to work with for such a long time, and now they are stabbing good customers in the heart.


Good luck AMEX

What's a NON legitimate purchase?

 

[Dr Ralph]

Hi all,

After 15 years with AMEX, all of my working life, tomorrow I am cancelling my cards.

I have an Edge and Reserve, and I put thro well over 500k a year, in legit purchases.

I have over 3M points.

Have called 4 times over the last month, and despite the above stats, they insisted every time that it was out of their hands, and that points protection was unavailable.

So even tho I spend over 25 times annually what the average AMEX card holder does, and would easily qualify for a Centurion, based on everything I've read, they couldn't do a thing for me, except retrospective half the value of my existing points balance.

I think an AMEX point was worth 1.7-2.0 cents all day.

So thanks AMEX for just flogging $15,000.

And i think its easy to forget that those 3M points were not free... I incurred significant merchant surcharges acquiring those points.


It's a sad day.. AMEX have been a good company to work with for such a long time, and now they are stabbing good customers in the heart.


Good luck AMEX

Don't take it so personally.

It's absolutely a game. And the game is always changing.

They have no sense of loyalty so neither should you.

Churning is where it's at and where it has been at for sometime. You probably should have started doing this earlier.

 

[Chicken]

I have an Edge and Reserve, and I put thro well over 500k a year

So why are you cancelling? You are not really being affected (I'm in the same boat)

 

[woomp001]

So why are you cancelling? You are not really being affected (I'm in the same boat)

I am being affected!!

Unless I transfer now, i loose 50%.
Transferring now, instead of when i actually need to/want to, means i will end up with expired and or stranded points.

Velocity is the only meaningful program that effectively doesn't expire points.. And that doesn't help... has anyone ever actually redeemed an International reward flight with VEL??
Domestically, they are great... But 3M points on domestic redemption's??

So KF or AM it is..

And that means 3 years life..

 

[woomp001]

What's a NON legitimate purchase?

Haha! Yeah, i guess everything is... I was trying to say, not gift cards, not churning, not recycling, and lastly, not paying BAS's or any other ATO bills, where AMEX receives very skinny merchant fee's...

 

[lovetravellingoz]

Don't take it so personally.

It's absolutely a game.

They have no sense of loyalty so neither should you.

Churning is where it's at and where it has been at for sometime.

I agree its a game. But the poster you are referring too indicated that he is spending over $500K per year.

He should be able to earn more points by keeping an aoptimised Amex or two than ditching them all and churning for a new Amex Card every 18 months.


I love to churn, and I churn many cards, but I don't churn a card if I make more points by keeping it. Churning is part of the game, but it is not the only game in town for many.

So in the case referred YES Amex are now giving less. But it is still more than ditching it. Their competitors give way less in earn many cases. So one can say up-yours Amex, but then go toa competitor who has always given less and will continue to do so.



PS: I am keeping my two linked Amexes for now. And having has not prevented me from getting two Westpac Amex sign on bonuses within the last 6 months.

 

[SOPOOR]

Haha! Yeah, i guess everything is... I was trying to say, not gift cards, not churning, not recycling, and lastly, not paying BAS's or any other ATO bills, where AMEX receives very skinny merchant fee's...

Thought there was a way to buy drugs with amex!

 

[lovetravellingoz]

I am being affected!!

Unless I transfer now, i loose 50%.
Transferring now, instead of when i actually need to/want to, means i will end up with expired and or stranded points.

Velocity is the only meaningful program that effectively doesn't expire points.. And that doesn't help... has anyone ever actually redeemed an International reward flight with VEL??
Domestically, they are great... But 3M points on domestic redemption's??

So KF or AM it is..

And that means 3 years life..

I don't undertsand?

With $500K+ spend why not transfer what points you have to Velocity and Krisflyer and then still keep earning with Amex which will earn you more points than elsewhere?

Ditching you card would seem to be lose lose to me.

Rater than lose but still win.

 

[Chicken]

I am being affected!!

But only one time, then back to normal.

Unless I transfer now, i loose 50%.
Transferring now, instead of when i actually need to/want to, means i will end up with expired and or stranded points.

Velocity is the only meaningful program that effectively doesn't expire points

You forgot VS.

And that means 3 years life..

So what then after this weekend? Your Reserve still gives $1 = 1 SQ / VS / CX mile after this weekend, no VISA MC does.

 

[woomp001]

Don't take it so personally.

It's absolutely a game.

They have no sense of loyalty so neither should you.

Churning is where it's at and where it has been at for sometime.

Tens of thousands of dollars is pretty personal!!!
In recognition of the seriousness of this, AMEX has doubled all point balances for Plat and Cent charge card holders, so that they are not disadvantaged.

But apparently, I am a third class customer, and this could not be done for me.

 

[woomp001]

But only one time, then back to normal.



You forgot VS.


So what then after this weekend? Your Reserve still gives $1 = 1 SQ / VS / CX mile after this weekend, no VISA MC does.

Fair point re VS... No one talks about them much however..

I'm thinking about going all in with QFF.... They offer a M/C at 1.25 points per dollar right.... And then redeem QFF points for flights on oneworld partners..

 

[SOPOOR]

Tens of thousands of dollars is pretty personal!!!
In recognition of the seriousness of this, AMEX has doubled all point balances for Plat and Cent charge card holders, so that they are not disadvantaged.

But apparently, I am a third class customer, and this could not be done for me.

Don't take it personally, they must have algorithms etc etc.

Look at the mobile phone carriers, they all offer 70% off month sims for new customers but never anything for existing. No matter how long youve been with them

 

[woomp001]

I don't undertsand?

With $500K+ spend why not transfer what points you have to Velocity and Krisflyer and then still keep earning with Amex which will earn you more points than elsewhere?

Rater than lose but still win.

Because Velocity is hopeless for long haul redemptions
Because KF expires in 3 years. 3M points is probably 12 trips to London return in business right.... They will expire b4 i could use them..
Because on a cost adjusted basis, you can now earn a lot more points other ways....... The choice is often 1-2% surcharge to use AMEX, vs 0-0.5% for Visa/MC... Points are not usually free at the 500K a year level! Its not like i spend 500K at Coles and BP right.....

Not a lose lose.... I will migrate to greener pastures.......

 

[boomy]

Because KF expires in 3 years. 3M points is probably 12 trips to London return in business right.... They will expire b4 i could use them..

It’s actually almost 4 years because you can book 355 days ahead so fly more and fly first class.

Problem solved

 

[SOPOOR]

Because Velocity is hopeless for long haul redemptions
Because KF expires in 3 years. 3M points is probably 12 trips to London return in business right.... They will expire b4 i could use them..
Because on a cost adjusted basis, you can now earn a lot more points other ways....... The choice is often 1-2% surcharge to use AMEX, vs 0-0.5% for Visa/MC... Points are not usually free at the 500K a year level! Its not like i spend 500K at Coles and BP right.....

Not a lose lose.... I will migrate to greener pastures.......

You can splurge out and go first class too!!! That will reduce your points quicker

YOLO

 

[Chicken]

I'm thinking about going all in with QFF

Because Velocity is hopeless for long haul redemptions

Um, you are just moving from VA cough to QF cough?

 

[Mr_Orange]

Um, you are just moving from VA cough to QF cough?

QF has plenty of redemption options but they just come with +$$$.