Changes to the way you earn points

[deka2]

Noticed on the Charge Card website under Benefits Directory/Membership Rewards Program the following notice
“Come 17 September 2012, your earn rate structure to your Membership Rewards program will change”
There is a hyperlink under this, but it doesn’t work.
I rang Amex and was told the changes have been put back but I would be notified when they are finaklised. The operator would or could not give me any further information.
Anyone know what these changes are?

 

[kpc]

Sounds ominous...can you please post a link so I can monitor the AMEX site for updates?!

 

[deka2]

I would love to, if you could tell me how to post a link within a webpage you need to login to get to.

 

[Deleted member]

Considering the lack of travel insurance now with plat (Amex) mrs GPH has been looking around. The qantas Amex looks quite good, with about the same deal on points per $ spend. And 1/2 the annual fee

I may just move across myself. Sick of paying the $900.00

Assuming of course you are actually referring to the plat charge card. ?

 

[Frequent Traveler]

Recieved a letter today about changes to one of my supplementry cards with the insurance been reduced and changes to point allocation, hope they dont change anything on my Centurion Card.

 

[sparoz]

Recieved a letter today about changes to one of my supplementry cards with the insurance been reduced and changes to point allocation, hope they dont change anything on my Centurion Card.

Centurion has been changed and I am set to lose 100k points. Unless you are go to restaurant enough to earn over 300k bonus points you will be no better off than a Plat with points.

 

[Frequent Traveler]

Im set to lose a **** load more I pay my tax on my centurion card I get 1.5 for each dollar up to 500k then1 for 1 but if it changes like the plat charge card it will be .5 for each dollar, my BAS bills for the year are over 3 million so if this is right we are set to cost my company almost 2 million points, this is how I pay my staff bonus's, think I am making a call to Centurion right now.

 

[Frequent Traveler]

There's a new points earning table from 1 October: 3 points per $1 spent at restaurants; 2 points per $1 spent on airlines, hotels, forex, etc, and 1 point per $1 on everything else except for utilities, insurance, telcos and government bodies (eg ATO) where the earn rate will be half-a-point per $1. The points threshold increases to $750,000 per year whereupon the points earning rates all drop back to 1 point per $1 except for the half-a-point per $1 categories like the ATO looks like Citibank it is for me.

 

[cove]

You might want to pile into Amex Ultimate that runs 1.5 points on everything and 2.5 points on Qantas purchases....and no cap on points. It seems to be a joint venture between Amex and Qantas.

 

[sparoz]

Im set to lose a **** load more I pay my tax on my centurion card I get 1.5 for each dollar up to 500k then1 for 1 but if it changes like the plat charge card it will be .5 for each dollar, my BAS bills for the year are over 3 million so if this is right we are set to cost my company almost 2 million points, this is how I pay my staff bonus's, think I am making a call to Centurion right now.

Just shift the tax back to the Plat Business Card - there had been no changed announced on point earns on business cards nor changes in travel insurance. So you will get 1.5 points till $250000 and 1 point after still. If you don't have one, just get one , or two if your structure allows.

You might want to pile into Amex Ultimate that runs 1.5 points on everything and 2.5 points on Qantas purchases....and no cap on points. It seems to be a joint venture between Amex and Qantas.

Good in theory, but the Amex Ultimate essentially is a credit card. 3 million in tax bill is equivalent to 250k per month, and if you take into the account of maximising cash flow you need 500k of limit - it is not going to happen. That's why we love Amex Charge .

 

[k3nnis]

That is a high tax bill What business do you run and looks like a very profitable one!

Im set to lose a **** load more I pay my tax on my centurion card I get 1.5 for each dollar up to 500k then1 for 1 but if it changes like the plat charge card it will be .5 for each dollar, my BAS bills for the year are over 3 million so if this is right we are set to cost my company almost 2 million points, this is how I pay my staff bonus's, think I am making a call to Centurion right now.

 

[Frequent Traveler]

Thanks but I am thinking Citybank Select could be a go just reading the fine print, points with ultimate card are sent to Qantas and the program I feel is not so good and for my business it just wont work, I need to have a charge card for cash flow, I also like to have points with AMEX then transfer to who ever I want to fly with and I dont think AMEX will go bust and loose the lot as some airlines have in the past, why do AMEX do this to us, being a loyal Centurion customer for over 6 years spent upwards of 20 Million during this time and this is how we are treated. just rang Citibank and they will give me 80k points to sign up and a further 80k points if if ditch AMEX 160k points could almost get me return BNE - LAX Business Class Virgin Australia (188,000 points) just for signing up very tempted, the guy I spoke to said they have had lots of calls from Centurion customers wanting the make the switch.

 

[k3nnis]

Is the select a charge card? I though it was a credit card..

 

[cove]

For $500,000 in credit limits you will need between 5 and 10 credit cards to maximize your cash flow,if you switch wholly to credit cards and away from a charge card system.

 

[Frequent Traveler]

My business is in the Health Care Services sector, over 250 staff lots of Goverment contracts, tax bills can huge, but as for making loads of cash not really thats why the points I can earn is great, send great staff on holidays as thankyou for their great work and a bonus when they secure contracts, also allows me and my family a good life style.

 

[sparoz]

My business is in the Health Care Services sector, over 250 staff lots of Goverment contracts, tax bills can huge, but as for making loads of cash not really thats why the points I can earn is great, send great staff on holidays as thankyou for their great work and a bonus when they secure contracts, also allows me and my family a good life style.

Just reading it too, and could be a good addition to make up the points and the rest just loaded in the Business Card with 1 for 1. Maximum credit limit is only 100k though. I am a business which attracts GST refund, so my tax bill only limits to my PAYG. Actually now I have a cunning plan, what if I file my Sales and PAYG withholding pay it with my Amex, and do a revision before the 21st ?.

 

[AFY]

My Cent manager told me that $1 - 0.5 point reduction to ATO paymnet apply to all types of Amex card (including Business Plantinum). Cent's bonus points capped at 750,000 points (increased fr 500,000)and Business Plantinum bonus points capped at 300,000 points ( incresed fr 250,000).

 

[sparoz]

My Cent manager told me that $1 - 0.5 point reduction to ATO paymnet apply to all types of Amex card (including Business Plantinum). Cent's bonus points capped at 750,000 points (increased fr 500,000)and Business Plantinum bonus points capped at 300,000 points ( incresed fr 250,000).

Thanks for this. Just checked the website and it's stated there too - looks like a devaluation of all cards. However, my biggest spend on my Business Card is ADVERTISING and it is now 2 points! More than make up for my tax bill and they don't charge me merchant fees either. Looks like I won't be paying my tax bill with my Amex.

With one of my supplier no long accepting amex, this is a welcome change. Probably make up for the loss in my Cent.

 

[NM]

My Platinum Reserve Credit Card will not be renewed unless the annual fee is waived under the new Membership Rewards conditions. I started with the RACQ Gold Credit Card that was offered with a 1.5 point/$ rate. Then that was changed to the Rewards Maximiser when the RACQ branding ceased. Then Rewards Maximiser was subbed with Platinum Reserve. My only reason for using Amex is the benefits of Membership Rewards. Now that the MR rates have been cut to be no more than I can get from several other cards, including one I get free with my home loan package, there is no reason to pay an annual fee to Amex for my involvement in MR. Its been a fun ride, but I doubt there will be many future promotions like we experienced in the past that lead to significant points earning opportunities. So I expect the relationship end after almost 20 years (Member since 93 according to my card).

 

[sparoz]

My Platinum Reserve Credit Card will not be renewed unless the annual fee is waived under the new Membership Rewards conditions. I started with the RACQ Gold Credit Card that was offered with a 1.5 point/$ rate. Then that was changed to the Rewards Maximiser when the RACQ branding ceased. Then Rewards Maximiser was subbed with Platinum Reserve. My only reason for using Amex is the benefits of Membership Rewards. Now that the MR rates have been cut to be no more than I can get from several other cards, including one I get free with my home loan package, there is no reason to pay an annual fee to Amex for my involvement in MR. Its been a fun ride, but I doubt there will be many future promotions like we experienced in the past that lead to significant points earning opportunities. So I expect the relationship end after almost 20 years (Member since 93 according to my card).

Just have to calculate the actual earn rates compare to other credit cards. DJ and Asiamiles conversion is very attractive. I have lost 15% of my points, but 25% better in conversion. Just that for the Cent card holders now you might not earn more points. I wonder if the Centurion shopping partners is available to Plat. Now that I can see a trip to Hour Glass will retrieve most of my lost points.