Points, Points, My Kingdom for Points (or not so much?)

[TonyHancock]

April 15th 2019, the day of The Great American Express Points Devaluation, or Devaluation Day as I am sure it will become known in the future, is actually a day I am looking forward to.

You see, my devaluation day was the day Amex reduced the transfer rate to SPG/Marriott and after the 15th April, with the doubling of existing points, I get to claw a bit back, not as much as I'd like but hey I'll be less unhappier than I was. Of course going forward it all falls apart! (Yes amex has positioned itself to be better than the even poorer alternatives.)

It has led me to question my devotion to all things points and more particularly American Express Australia. I am of a mind to forget the great points chase after Devaluation Day, I'm not sure I can be bothered any more. I have slavishly, some may say blindly, paid the 3% overseas commission fee in my quest for Amex points and would probably continue to do so if I had not gained some unfortunate exposure to American Express Australia's downwardly spiralling customer service.

Reading the terms and conditions is always enlightening and what I sort of knew but didn't, was that if an overseas merchant makes and incorrect transaction, or your card is compromised and used fraudulently overseas American Express pockets the commission fee and is not obliged to return it when reversing the transaction. Nothing better than a financial institution profiting from fraud!

I'm not bitter about this at all, actually let me put that slightly differently, I am very bitter about this. (Yes I know it is in the terms and conditions and I only have myself to blame etc ,etc)

I have had a number (11 to be precise, no 12 there was another a couple of weeks ago!) of customer service issues with American Express Australia and am about to initiate my second AFCA complaint in two months, and I am of the opinion it is just not worth it any more.

I am of a mind to just use the 28 Degree Mastarcard for overseas transactions and whatever fee free card offers the best value for local transactions and give up on the points quest. I am approaching a time when BFOD has to be the right way forward for me I think.

 

[JohnK]

Who are you and what have you done with @TonyHancock?

I guess in a way I agree with your assessment. I'm going to transfer my modest balance to KrisFlyer and stop chasing points.

 

[Pushka]

Who are you and what have you done with @TonyHancock?

I guess in a way I agree with your assessment. I'm going to transfer my modest balance to KrisFlyer and stop chasing points.

Griselda is holding him to ransom.

 

[TonyHancock]

Who are you and what have you done with @TonyHancock?

Griselda has hacked my account and I'm locked...errr..........

 

[oz_mark]

There's always Diners....oh, wait...

 

[TonyHancock]

There's always Diners....oh, wait...

That reminds me I need to cancel my Diners/Mastercard combo!!

 

[opusman]

Without points how do you upgrade from J to F?

 

[TonyHancock]

Without points how do you upgrade from J to F?

GUF's - I get 10 a year and they can be used for the whole PNR .

 

[albyd]

I think for me personally, I’ll spend less time on collecting points on purpose since there are less to be had (and therefore less compensation for the time spent on the hobby).

Doesn’t mean I’ll abandon my efforts completely. Where I’m going to spend that money anyway and I can do so on Amex, I’ll keep doing it. It’s a no brainer. Like walking past a $100 note on the street ... of course you’d pick it up for no extra effort.

Where I’ll need to incur a cost to do so or put too much thinking time and effort into it, with the gain being half as small as pre-April, I’ll remind myself I can earn more working in my own business.

While I don’t like the changes, it’s never been so easy to get a high value reward for little spend. Used to be a lot harder (or I used to spend a lot less). While disappointed, I’m not surprised the system is changing.

 

[oz_mark]

That reminds me I need to cancel my Diners/Mastercard combo!!

Hmm, was going to say something about Griselda having you handcuffed, but not sure it would come out right...

 

[RooFlyer]

I've given up earning points by flying, except for the occasional DONE4. I now just rake off incidental Visa/M'card earns, and sign-on bonuses, and buy cheap points from the sellers when the bonuses make it worthwhile.

 

[andye]

That reminds me I need to cancel my Diners/Mastercard combo!!

Diners gave me another year fee-free despite not buying anything with the card in the previous year. Mstr andye1 visited a few lounges on it during his Eurotour.

 

[drron]

I haven't used my Diners for about 10 years but they keep sending me new cards and keeping it fee free.too lazy to cancel it.

 

[albyd]

I’ve still got mine too but have cut back to just the DC no MC since I stopped using it after their great devaluation/ they keep sending me an annual statement when the AF is due. I keep calling to get it waived and they oblige woth the usual ‘this will be the last time’ comment.

I put through $1 on it at Coles recently so they don’t cancel it for lack of use. They publish their shadow limits while its a charge card, they do have a hard limit (at least for my card) and it’s not too shabby.

 

[lovetravellingoz]

It has led me to question my devotion to all things points and more particularly American Express Australia. I am of a mind to forget the great points chase after Devaluation Day, I'm not sure I can be bothered any more. I have slavishly, some may say blindly, paid the 3% overseas commission fee in my quest for Amex points and would probably continue to do so if I had not gained some unfortunate exposure to American Express Australia's downwardly spiralling customer service.
.

The one constant in life is change. In the FF world this is particularly so. Every year it is so in the FF world changes happen and some are beneficial and some are harmful.

I embrace the changes and avoid "slavish"" or "blind" points chasing as you have termed it ever since I became a serious FFer.

Now to me being a serious FFer means to be a earner and spender of points to enhance my life experience. I think that some may also, or instead, be a collector of points, where collection may be done regardless of how effective it is cost in time or $$. And yes I will sometimes get sucked into a points run where it is not truly effective, but I try and avoid that.

In the FF world point earning, transferring and spending opportunities come and go. Who knows the time may come when it goes completely, but that time is not yet at least for me.
- With Flybuys for example they were originally worth collecting, then became not worth collection, and then became worth collecting again.
- With redeeming flights long ago domestic redemptions were great value, then they became only selectively ok value
- Fuel fines have come and gone from some programs like Krisflyer, but have stayed at some like QFF
-CC sign on bonuses have been not there, good, exceptionally good at various.
- etc


To me FF points are a currency the same as money ( $), and just as in earning $ I assess each opportunity for should I do it, with FF points it is the same . I would not work at some jobs as the return is not worth my time. I will not invest in some things as the return re my $ and/or time is the same.


So yes the Amex MR world is changing. But for me the overall FF World is still beneficial to be in. The Amex MR World is too, though yes it will not be quite as plump and juicy a fruit as it was, but it is still worth my supping upon.

So yes I commend you to question the earning of each and every point, as some are not worth the time, effort and or $ in doing so. But at present, and into the future, many are. It is just that not all are. So yes do not blindly chase all points.

I am also certain that each year that some golden nuggets of point earning opportunities will still arise. Or thus it has been ever since I experienced my Eureka moment when I first read of The Pudding Guy and my FF eyes were opened as to what can be when one treats the acquisition of points as a science. That same benefit being multiplied when I applied that same discipline in thinking to the spending of FF points.

Realising that there were FF programs other than QFF/Ansett was very beneficial. Later realising that one should think Alliance and Partner and not just Airline was another Eureka moment.

 

[Mr_Orange]

April 15th 2019, the day of The Great American Express Points Devaluation, or Devaluation Day as I am sure it will become known in the future, is actually a day I am looking forward to.

You see, my devaluation day was the day Amex reduced the transfer rate to SPG/Marriott and after the 15th April, with the doubling of existing points, I get to claw a bit back, not as much as I'd like but hey I'll be less unhappier than I was. Of course going forward it all falls apart! (Yes amex has positioned itself to be better than the even poorer alternatives.)

It has led me to question my devotion to all things points and more particularly American Express Australia. I am of a mind to forget the great points chase after Devaluation Day, I'm not sure I can be bothered any more. I have slavishly, some may say blindly, paid the 3% overseas commission fee in my quest for Amex points and would probably continue to do so if I had not gained some unfortunate exposure to American Express Australia's downwardly spiralling customer service.

Reading the terms and conditions is always enlightening and what I sort of knew but didn't, was that if an overseas merchant makes and incorrect transaction, or your card is compromised and used fraudulently overseas American Express pockets the commission fee and is not obliged to return it when reversing the transaction. Nothing better than a financial institution profiting from fraud!

I'm not bitter about this at all, actually let me put that slightly differently, I am very bitter about this. (Yes I know it is in the terms and conditions and I only have myself to blame etc ,etc)

I have had a number (11 to be precise, no 12 there was another a couple of weeks ago!) of customer service issues with American Express Australia and am about to initiate my second AFCA complaint in two months, and I am of the opinion it is just not worth it any more.

I am of a mind to just use the 28 Degree Mastarcard for overseas transactions and whatever fee free card offers the best value for local transactions and give up on the points quest. I am approaching a time when BFOD has to be the right way forward for me I think.

Welcome aboard. This was my decision the day I read of the devaluations. The handcuffs literally crumbled to dust and disappeared.

O/S spend will be on the BW Zero Platinum - no AF and no O/S fees.

Day-to-day spend on the HSBC Premier World Mastercard - no AF, earns HSBC points which can, if I so desire, be redeemed for airline miles at 3 different partners. It is more likely they will turn into gift cards though.

 

[psi999]

I'm pretty much out now as well, have already cancelled 2x amex cards and will cancel last one in April after transferring MR balance out.

Will continue passive point earn with ANZ rewards black Visa and sit on the few Million points stashed across QF, VA and SQ.

 

[opusman]

15th April, with the doubling of existing points

Btw, don't forget you have to wait 2 more months for points to be doubled.

 

[TonyHancock]

Btw, don't forget you have to wait 2 more months for points to be doubled.

Thanks for the reminder @opusman I had forgotten that!!!!!

 

[kieranchu]

Btw, don't forget you have to wait 2 more months for points to be doubled.

I am sorry if this sounds like a silly question and if i missed the joke - but has Amex confirmed they will double our points to make up for the devaluation ? I had read it somewhere else before Christmas too but haven't seen any official notification.

The points are quite close to my heart and have been thinking of where to transfer them to since the day they announced the devaluation.....