Reduced AMEX earn rates from April 2019

[hossein_au]

Citibank Prestige now with its 400 000 points offer + solid redemption rates is looking like an alternative to Platinum Charge
Also note the annual fee $700 vs $1400

Velocity Points Earn

Major restaurants, hotels and major airlines = 1.5 point / $
Major petrol stations, supermarkets and national retailers = 1 point / $
All other eligible spend = 0.5 point /$
International Spend = 1.5 points / $

So, AmEx Charge earns around 11% more in petrol stations, supermarkets etc, and more than double Citi Prestige for all other eligible spend. Not much of an alternative, is it?

 

[andye]

So, AmEx Charge earns around 11% more in petrol stations, supermarkets etc, and more than double Citi Prestige for all other eligible spend. Not much of an alternative, is it?

im going to keep my Edge anyway as fee is offset
No-one is happy about the Amex devaluation but its still the best game in town

 

[hossein_au]

im going to keep my Edge anyway as fee is offset
No-one is happy about the Amex devaluation but its still the best game in town

Don't get me wrong, I am not happy at all (even though my current points will be doubled), but I think AmEx is still right up there with the best of MC/Visa offerings.

Having said that, I will use this opportunity to rationalise my AmEx portfolio... I have way too many AmEx cards and this is a good chance to cull quite a few. I think I will keep my Charge (and the Reserve) and cancel the rest. If RewardsPay comes to the party by at least halving their fee, I'll keep these cards; if not, I am on the fence to just cancel all my AmEx cards and wait out the obligatory 18 months before applying for a fresh set... decisions, decisions...

 

[albyd]

I've enjoyed maximising my points earn depending on spend categories across Edge, Explorer and Platinum Charge. The bright side of the changes is I can concentrate all my spend through Platinum Charge and only have one bill to worry about. 3 bills was worth it for the extra points earn but this will be administratively easier. Will keep Edge as I have a good deal on it but likely will go un-used. I'll can Explorer or try to turn it into US SPG card (if I can navigate requirements - particularly for US residential address and phone number) as an alternative to Macquarie Hilton should it be withdrawn completely.

We've been lucky in recent years to earn well through a number of Amex cards. Wish I hadn't redeemed so many points this year. 4 months to work on it

 

[hossein_au]

I've enjoyed maximising my points earn depending on spend categories across Edge, Explorer and Platinum Charge. The bright side of the changes is I can concentrate all my spend through Platinum Charge and only have one bill to worry about. Will keep Edge as I have a good deal on it but likely will go un-used. I'll can Explorer or try to turn it into US SPG card (if I can navigate requirements - particularly for US residential address and phone number) as an alternative to Macquarie Hilton should it be withdrawn completely.

We've been lucky in recent years to earn well through a number of Amex cards. Wish I hadn't redeemed so many points this year. 4 months to work on it

I also need to rationalise my US cards, among them a Hilton card. I might replace it with a SPG card, although to get any decent status you'll need to pay US300+ in annual fees :-(

 

[theblank]

Citibank Prestige now with its 400 000 points offer + solid redemption rates is looking like an alternative to Platinum Charge
Also note the annual fee $700 vs $1400

Velocity Points Earn

Major restaurants, hotels and major airlines = 1.5 point / $
Major petrol stations, supermarkets and national retailers = 1 point / $
All other eligible spend = 0.5 point /$
International Spend = 1.5 points / $

You must be kidding. AMEX platinum Edge earns the same or better ,and is only $195 and effectively $0
The signup fee is good, but not ongoing.

 

[lopes2017]

So, AmEx Charge earns around 11% more in petrol stations, supermarkets etc, and more than double Citi Prestige for all other eligible spend. Not much of an alternative, is it?

Dont forget the companion Diners. 1 Velocity point per dollar on every day spend. Zero overseas transaction fees.

 

[Chicken]

So, AmEx Charge earns around 11% more in petrol stations, supermarkets etc, and more than double Citi Prestige for all other eligible spend. Not much of an alternative, is it?

It think most people here who complain are people with Explorer and / or Edge, and they still need to pay for a full time Visa / MC for places which does not take AmEx. If I only have Edge card, I may also cancel the Edge card, and consolidate to something like St George Amplify Signature for SQ and be done with it.

I will use this opportunity to rationalise my AmEx portfolio... I have way too many AmEx cards and this is a good chance to cull quite a few. I think I will keep my Charge (and the Reserve) and cancel the rest.

Be careful when you do this, when you could end up cutting up your future earning opportunities, especially when you have a Platinum charge which gives you heaps of free cards. I encountered 2 such occasions.

1: 15+ years ago, I got an invite to get a fully featured Diners, free for life, as I was a Citi credit card holder. It was not the additional card like what Citi is doing now, but the whole separate shebang. I didn't take one, so now I miss out on all the lounge access.

2: 2 years ago, I applied for some AmEx card. AmEx told me that I needed to cancel one of my existing AmEx cards as I had too many. It was either cancel 1 existing card and get approve for this new card, or no new card. I had and still do have $395 for Reserve + Edge + gold charge, I could have been greedy and taken the new card for sign up bonus, and cancel the Gold and Reserve, so I would only have to pay $200 for the Edge card and I get $1 = SQ 1 plus bonus supermarket spends, plus the sign up bonus. Well, if I was greedy for that short term gain 2 years ago, I would be left with the Edge card now, and crying.

 

[Chicken]

Dont forget the companion Diners. ... Zero overseas transaction fees.

Nah, that's a lie, been there done that. Better off with a Bankwest / ANZ / 28 Degree

 

[Mr_Orange]

2: 2 years ago, I applied for some AmEx card. AmEx told me that I needed to cancel one of my existing AmEx cards as I had too many. It was either cancel 1 existing card and get approve for this new card, or no new card. I had and still do have $395 for Reserve + Edge + gold charge, I could have been greedy and taken the new card for sign up bonus, and cancel the Gold and Reserve, so I would only have to pay $200 for the Edge card and I get $1 = SQ 1 plus bonus supermarket spends, plus the sign up bonus. Well, if I was greedy for that short term gain 2 years ago, I would be left with the Edge card now, and crying.

I'm intrigued by this combo, it seems very cheap....

What does the Gold Charge cost? What are the benefits, earn rates and redemption rates?

I've seen a couple of other members mention that they have been offered the Gold Charge when threatening to close the Platinum Charge.

 

[hossein_au]

It think most people here who complain are people with Explorer and / or Edge, and they still need to pay for a full time Visa / MC for places which does not take AmEx. If I only have Edge card, I may also cancel the Edge card, and consolidate to something like St George Amplify Signature for SQ and be done with it.



Be careful when you do this, when you could end up cutting up your future earning opportunities, especially when you have a Platinum charge which gives you heaps of free cards. I encountered 2 such occasions.

1: 15+ years ago, I got an invite to get a fully featured Diners, free for life, as I was a Citi credit card holder. It was not the additional card like what Citi is doing now, but the whole separate shebang. I didn't take one, so now I miss out on all the lounge access.

2: 2 years ago, I applied for some AmEx card. AmEx told me that I needed to cancel one of my existing AmEx cards as I had too many. It was either cancel 1 existing card and get approve for this new card, or no new card. I had and still do have $395 for Reserve + Edge + gold charge, I could have been greedy and taken the new card for sign up bonus, and cancel the Gold and Reserve, so I would only have to pay $200 for the Edge card and I get $1 = SQ 1 plus bonus supermarket spends, plus the sign up bonus. Well, if I was greedy for that short term gain 2 years ago, I would be left with the Edge card now, and crying.

I like the way you think

 

[Chicken]

I'm intrigued by this combo, it seems very cheap....

What does the Gold Charge cost? What are the benefits, earn rates and redemption rates?

I only had Reserve, then AmEx invented Edge, then AmEx sent me a letter saying I could have an Edge free for life as long as I keep paying for the Reserve, so I took the Edge. Then after I can't remember god knows how long, I got a letter out of the blue, saying I could get a Gold charge free for life, as long as I keep paying for the Reserve, with the advantage of the Gold card giving extended warranty on things I buy (which is not included with Reserve and Edge). So I have been paying $395 for all these cards, Reserve for everyday spend, Edge for buying Woolworths gift cards to pay for my Opal card, and Gold charge for buying things I want extra warranty. They all have a base rate of $1 = SQ 1 before April.

 

[Mr_Orange]

I only had Reserve, then AmEx invented Edge, then AmEx sent me a letter saying I could have an Edge free for life as long as I keep paying for the Reserve, so I took the Edge. Then after I can't remember god knows how long, I got a letter out of the blue, saying I could get a Gold charge free for life, as long as I keep paying for the Reserve, with the advantage of the Gold card giving extended warranty on things I buy (which is not included with Reserve and Edge). So I have been paying $395 for all these cards, Reserve for everyday spend, Edge for buying Woolworths gift cards to pay for my Opal card, and Gold charge for buying things I want extra warranty. They all have a base rate of $1 = SQ 1 before April.

Ah OK, a very unique case then. I'm assuming the Gold Charge doesn't give any airline lounge access or other goodies beyond the extended warranty?

 

[Chicken]

Ah OK, a very unique case then.

I just remember that I got the Reserve right after it was invented, and my card still has "Foundation Member" printed on it. There was also a discussion on what's the meaning of "Foundation Member".

I know I am not the only person who got this deal, but I am not sure if there are many people who hung onto this deal for 10 years. I am hanging my dear life onto this deal because it is too good to be true, and I am not going to let go of this deal for some short term gain like sign up bonus.

I'm assuming the Gold Charge doesn't give any airline lounge access or other goodies beyond the extended warranty?

Nope, nothing.

On a side note, AmEx bought this domain name AmExMore.com.au which gives you direct access to information on all cards including cards no longer for sale.

 

[odysseus]

The travel credits, statement credits, hotel statuses and insurances would still make me favour the Charge (accepting a superior acceptance rate for Prestige)
The invisibility to Comprehensive Reporting is also an Amex Charge advantage

And the customer service, and operations.

 

[jubacca]

This month I had a 7-Eleven petrol purchase come up as 0 points. But I have plenty of Supermarket purchases with the correct allocation of points.
No i havent rung them, phone call costs more than the points i missed.

I had an issue with missing points a few months ago and used live chat instead as I can't be bothered calling them. It was a very easy process and they allocated the missing points shortly.

 

[WeeWillyWonka]

Just gotta say that after reading through a lot of posts in this thread, I feel confident (and appreciative) that this community will help most people find the best possible solution/alternatives for the Amex points devaluation. Will I stay with my current cards? Not sure yet, but there is time and sagely advice here. Thanks everyone

 

[Rushtuy]

Just a side note to this discussion (if someone hasn’t already posted this).

After much reading and trying to work out what to do with my points i called AMEX and they confirmed the 15th of April date for doubling points balances. This will essentially mean the burn rate stays the same for existing balances because the points in your account double. So despite the reduction in earn on some cards being a pain at least they have recognised that for those with a decent balance the halving will have an impact and they are doing something about it.

There is an EXTREMELY important caveat here though. THIS IS NOT AUTOMATIC!

When asking about my account and for something to confirm this I was also told I will receive a confirmation letter in 7 – 10 business days. The operator said this was not an offer being made to all account customers or something that happens automatically. Firstly, you need to call. Secondly you need to be what she said was a “premium account” and you need to have a “significant balance”. I did query what the thresholds were but this question was brushed aside.

To give you an indication I have 3x amex cards (QBR, BusGold, Plat CC) and our spend across the board is well into the 7 figures. We have a dedicated account manager and my current balance is 7mil+ in AMEX alone. It would be useful for other members that have received the offer to perhaps detail what their accounts look like (without too much detail of course) which would help other AFF members ascertain whether they would be eligible. They may offer it to anyone that calls but it seems the key is to call them!

 

[SOPOOR]

Just a side note to this discussion (if someone hasn’t already posted this).

After much reading and trying to work out what to do with my points i called AMEX and they confirmed the 15th of April date for doubling points balances. This will essentially mean the burn rate stays the same for existing balances because the points in your account double. So despite the reduction in earn on some cards being a pain at least they have recognised that for those with a decent balance the halving will have an impact and they are doing something about it.

There is an EXTREMELY important caveat here though. THIS IS NOT AUTOMATIC!

When asking about my account and for something to confirm this I was also told I will receive a confirmation letter in 7 – 10 business days. The operator said this was not an offer being made to all account customers or something that happens automatically. Firstly, you need to call. Secondly you need to be what she said was a “premium account” and you need to have a “significant balance”. I did query what the thresholds were but this question was brushed aside.

To give you an indication I have 3x amex cards (QBR, BusGold, Plat CC) and our spend across the board is well into the 7 figures. We have a dedicated account manager and my current balance is 7mil+ in AMEX alone. It would be useful for other members that have received the offer to perhaps detail what their accounts look like (without too much detail of course) which would help other AFF members ascertain whether they would be eligible. They may offer it to anyone that calls but it seems the key is to call them!

Do you have a prem ascent account.
As far as in aware, virtually no one on normal ascent has received the double offer , except for a few high end users or those that called and asked and got lucky

 

[Rushtuy]

Do you have a prem ascent account.
As far as in aware, virtually no one on normal ascent has received the double offer , except for a few high end users or those that called and asked and got lucky

Standard Ascent - not premium