Reduced AMEX earn rates from April 2019

[daft009]

We have 5 months... Go silly till then!

 

[DeKa]

There’s absolutely no benefit in having Explorer linked to Plat Edge from April 2019 is there, as the transfer rate to airlines is the same.

 

[zenyattamondatta]

Certainly made the "sit out 18 months to wait for another signup bonus" strategy more costly.

 

[jasonfungsing]

disaster....

After April 2019, better convert MR points to SPG as the rate is 3:2, then SPG to airlines with 1:1

 

[opusman]

SPG can't convert to QF though.

 

[foggy]

Going forward, seems like the edge card + charge card has the most earning potential for supermarkets + everything else.

 

[Haplo]

So Edge + Charge is more or less dead, so I will be cancelling my Edge before my next renew in Jan

Charge losing bonus category and especially FX bonus points (which I use quit a lot on) is really bad.

Time to go to ANZ Adventure or Citiplus to avoid the 3% FX fee.

 

[zenyattamondatta]

disaster....

After April 2019, better convert MR points to SPG as the rate is 3:2, then SPG to airlines with 1:1

Hasn't the 1:1 ratio disappeared, though?

 

[downloadingdata]

They need to reduce the fee for plat charge to 600 - 700 to make the card worthwhile. It doesnt help that there is no clarity on the spg/marriott status and hilton status can be gotten for free with macquarie

 

[get me outta here]

Maybe they will also reduce the 18 month exclusion to replace the cancellations.

 

[downloadingdata]

I too think the AUD is the major driver for this.
I currently have a portfolio of Amexes to maximise points earn but with the effectively reduced differences between cards I'll likely consolidate

Are you implying if and when the AUD goes back up AMEX will up the earn rates again on these cards? I think that possibility is next to none.

 

[Saltywings]

I've preached before about not 'overpaying' (in a relative) sense to earn more points, but this is an exception to the rule. Guess I'll put the final BASes through RP/B2BP and go out with a multimillion bang.

*sigh*.

 

[GoldCanyon340]

Are you implying if and when the AUD goes back up AMEX will up the earn rates again on these cards? I think that possibility is next to none.

None, not next to none!

 

[GoldCanyon340]

I'll keep my DJ Amex for now as it hasn't been devalued, as far as I can see. But from next year Visa will be my new friend considering the price increase on the Plat Charge. Who would have thought it?

 

[rock86]

Certainly made the "sit out 18 months to wait for another signup bonus" strategy more costly.

With these changes, come a few months after they're implemented I wouldn't be surprised this get's reduced as you would think it will have an impact on the utilisation of their cards.

Will be interesting to see come this time next year what effect this will have on AMEX Australia.

 

[glasszon]

Ouch, that's a big devaluation. This also put the Amex to SPG transfer devaluation earlier this year into prospective, we think it's a huge hit at the time but it make sense now so they don't have to devalue that transfer twice in a short space of time.

 

[Leroy87]

disaster....

After April 2019, better convert MR points to SPG as the rate is 3:2, then SPG to airlines with 1:1

Not quite...

The 3:2 rate is to Mariott rewards, which are worth a 3rd of the old SPG currency.

So 90k MR = 60k Marriot = 25k of your favourite airline points. No thanks!

Still better to get 45k KF/Asia Miles etc. But still horrible at the same time

 

[Saltywings]

By the way, something the Point Hacks take on this topic (which includes a mightily-useful table summary I might add) mentioned, which the AusBT one didn't is this little titbit:

Changes to transfer rates to Membership Rewards program partners
From 15 April 2019, American Express Membership Rewards transfers to most partners are also changing. American Express will also consolidate the different varieties of Membership Rewards points, including Ascent, Ascent Premium and Gateway, into one unified points currency.

I mean I don't even really care all that much at this point - this suite of 'enhancements' more or less levels the three programs anyway.

There was also this little titbit in the article's FAQ section:

Are other benefits such as travel credits, lounge access, complimentary flights or insurance changing?

All other benefits are remaining the same, however, some small benefits will be added, which Point Hacks will cover in future articles. Also, Platinum Card Members will see the removal of points caps.

 

[Pumbaa]

Not quite...

The 3:2 rate is to Mariott rewards, which are worth a 3rd of the old SPG currency.

So 90k MR = 60k Marriot = 25k of your favourite airline points. No thanks!

Still better to get 45k KF/Asia Miles etc. But still horrible at the same time

It's not as bad as you think. Earn rates with Plat Charge have now increased to 2.25 points/dollar, which is a significant boost to the original 1 point/dollar. So technically, 1 dollar = 2.25 amex = 1.5 marriott, which is the same earn rate as previous. 1 amex = 0.5 spg = 1.5 marriott!

 

[Limewood]

I wonder if AMEX Merchant fees will align with say Visa, if so card would be more widely available as merchants complain about current Amex fees as reason they don't have it.