Amex platinum Charge annual fee increase

[dcooper]

the thing i find fascinating about all the replies about earn rates and transfer rates is they don't put dollar terms to it. I now have to spend more money on the card to get the same points i used to. so based on last years earn rate before the reward point reductions if i spend mostly on ATO and utilities i now have to spend 3 times the dollar amount to get the same points. none of the utilities have reduced their surcharge rate so i wonder who is profiting off this? it certainly isn't me anymore. my points barely move now.

 

[dcooper]

Also why doesn't american express do cash advance anymore??? its really pathetic to offer a card and also put on your statement the cash advance rate but not let customers do a cash advance.

 

[Mal]

Cash advance got pulled iirc when amex pulled balance transfers. I think they had issues getting credit and as a result started locking down cards. A person who does cash advances is a higher credit risk too. Along with skimming issues etc etc. So think they have their reasons.

 

[dcooper]

Cash advance got pulled iirc when amex pulled balance transfers. I think they had issues getting credit and as a result started locking down cards. A person who does cash advances is a higher credit risk too. Along with skimming issues etc etc. So think they have their reasons.

If they have issues with getting credit then that worries me. Every financial provider I know does cash advance. It may be a higher credit rush but that is why it's a higher interest rate. Give me back my cash advance Amex. That way if a merchant doesn't accept your card I can atleast buy the item. Even diners does cash advance.

 

[Mal]

If they have issues with getting credit then that worries me. Every financial provider I know does cash advance. It may be a higher credit rush but that is why it's a higher interest rate. Give me back my cash advance Amex. That way if a merchant doesn't accept your card I can atleast buy the item. Even diners does cash advance.

The finance market three years or so ago was much different to today... Keep in mind that amex is a US based company. The US was stuffed a few years ago financially and any credit was hard to get.

 

[Ricardo]

They also offered certain card holders a line of credit, but that seemed to have gone kaput during the GFC as well.....

 

[dcooper]

If American Express was eager to make this a premium travel card then they should get rid of the conversion fee for fx. The us platinum has no conversion fee. If this was gone I would reconsider keeping my platinum.

 

[dcooper]

Spoke to american express around all the expiry dates on the features on the card and they basically said they can't guarantee renewal. I find it amazing that benefits have expiry dates. If i was a bank i'd take this opportunity to come up with a new card that has some of these features.

 

[Foreigner]

Received flashy pack this week by post. Platinum tier membership in VA would have added value and justified increased fee, IMO.

 

[greenfrog86]

Spoke to american express around all the expiry dates on the features on the card and they basically said they can't guarantee renewal. I find it amazing that benefits have expiry dates. If i was a bank i'd take this opportunity to come up with a new card that has some of these features.

Groups like Accor will NEVER sign an open ended, forever and ever type of agreement with Amex... It just doesn't make sense for them. I wouldn't be too worried about the benefit expiry dates though - most of them get rolled or Amex replaces them with something else. It is at that point that you can consider whether the product is still of value to you...

 

[dcooper]

Groups like Accor will NEVER sign an open ended, forever and ever type of agreement with Amex... It just doesn't make sense for them. I wouldn't be too worried about the benefit expiry dates though - most of them get rolled or Amex replaces them with something else. It is at that point that you can consider whether the product is still of value to you...

American Express has been changing the benefit structure too frequently to make this a viable card. We have seen them cut benefits and replace them with very little.

 

[matahari]

Hi all,

A reliable source told me today Amex Plat charge annual fee will be increased from $900 to $1200 from Oct 2013...

Lets see if this is happening.....

Cheers,

A 25% fee increase is just NOT ON... all I seem to read I'll get in return is a night in a crummy pub. This will be my last year as a member, after nearly 30 years, especially when fewer places will now accept the card. Keen to know what others think ??

 

[straitman]

A 25% fee increase is just NOT ON... all I seem to read I'll get in return is a night in a crummy pub. This will be my last year as a member, after nearly 30 years, especially when fewer places will now accept the card. Keen to know what others think ??

33% increase actually.

 

[dcooper]

33% increase actually.

American Express has gone down hill over the last few years I wonder what their uptake rate has been since the increase? 33% increase and I calculated today a 40% decrease in points. One would assume that the decrease in rewards in utilities would have led to a greater uptake of merchants.. Nope... Even less now...

 

[Burgo]

A 25% fee increase is just NOT ON... all I seem to read I'll get in return is a night in a crummy pub. This will be my last year as a member, after nearly 30 years, especially when fewer places will now accept the card. Keen to know what others think ??

To put some perspective on this, whilst a sizable increase from the current rate of $900pa, it is the first increase since I've had the card & that is over 15 years...that is less than the rate of inflation over that time...so it's not so bad really.


cheers

 

[k3nnis]

What is/are the most valuable benefit(s) that you guys see in the plat charge card ignoring the annual fee???

 

[straitman]

What is/are the most valuable benefit(s) that you guys see in the plat charge card ignoring the annual fee???

There is a whole thread on that.

Platinum Card, what will I get for $900

 

[k3nnis]

Thanks bill.

 

[tinkybelle]

I will be ordering my accor card on 1 oct and then cancelling as soon as my fee is due.
will be interested to hear what the reaction is for those of you renewing/cancelling in early oct.

 

[Ricardo]

I will be ordering my accor card on 1 oct and then cancelling as soon as my fee is due.
will be interested to hear what the reaction is for those of you renewing/cancelling in early oct.

Once you cancel the card Amex will cancel your accor adv plus, I read it in the T&C.

Im my case I just paid my $900 fee (cut back slighly due to some performance issues), so I am on the winning side for the first year.