Reduced AMEX earn rates from April 2019

[xzclzj]

I'm not sure I understand this whole thing of people cancelling their cards. I get it that the points become effectively halved for those who can't get the doubling thing but why cancel? I've got the explorer and I'll still get 1ppd for KF yeah? Unless I sign up to the Citi prestige card, which It'll be hard to show them I'm on 150k then there's only a STG Visa that'll come somewhat close?

Have I missed something?

Amex still the best card over the market. The point is after 15 April my current points will be halfved. That's why I am leaving and start churn the credit cards. I only been with Amex 18 months and spent 100K with them . With the money I put into Amex ,I can open at least 5-8 credit cards and get 500K Qantas points . I use my money to vote Amex, what I got? BeacuBe I don't hole charge card hence I am not a vaulble customer? That's why I will leave.

 

[daft009]

I just called Amex to see if they would double my points. I use an Explorer and Edge cards linked to Ascent.
They noted they have not seen a large balance like mine for some time and would like to encourage someone with my spending habits to maintain loyalty to Amex. However, the staff making such decisions (? senior marketing team) are on leave and no promises were made. They will "try to do something" and will be contacting me after 7th January....
If they do not double my points balance, then we will need to assume that decisions about this are not directly linked to spending habits alone.

If you don't get it, the rest of us have no hope.

I'll chase up too, after the 7th. I put in a request on the 19 th and received a similar reply

 

[piratematerial]

I'm not sure I understand this whole thing of people cancelling their cards. I get it that the points become effectively halved for those who can't get the doubling thing but why cancel? I've got the explorer and I'll still get 1ppd for KF yeah? Unless I sign up to the Citi prestige card, which It'll be hard to show them I'm on 150k then there's only a STG Visa that'll come somewhat close?

Have I missed something?

With the reduced Amex redemption rates, churning through bank credit card promo offers is almost certainly a better way to accrue a large points balance unless you're annually putting six figures of non govt spend through an Amex.

 

[pauly7]

I just called Amex to see if they would double my points. I use an Explorer and Edge cards linked to Ascent.
They noted they have not seen a large balance like mine for some time and would like to encourage someone with my spending habits to maintain loyalty to Amex. However, the staff making such decisions (? senior marketing team) are on leave and no promises were made. They will "try to do something" and will be contacting me after 7th January....
If they do not double my points balance, then we will need to assume that decisions about this are not directly linked to spending habits alone.

What is your balance do you mind sharing?

 

[60spud]

I also rang Amex today and spoke to one of their managers who put through an urgent request to the marketing team 're my edge. To his credit he got back to me in an hour and told me no go. My spend is around 65k a year and I've never been late with payment . Member since 2013 and have around 640000 points.Between that and velocity devaluation today looks like we will be going on a few overseas trips in the next four years.

 

[Pointy Bird]

What is your balance do you mind sharing?

over 10,000,000

 

[SOPOOR]

I also rang Amex today and spoke to one of their managers who put through an urgent request to the marketing team 're my edge. To his credit he got back to me in an hour and told me no go. My spend is around 65k a year and I've never been late with payment . Member since 2013 and have around 640000 points.Between that and velocity devaluation today looks like we will be going on a few overseas trips in the next four years.

Whats with these managers putting throguh urgent requests???

Is it some kind of lingo to get you off the phone?

 

[burmans]

With the reduced Amex redemption rates, churning through bank credit card promo offers is almost certainly a better way to accrue a large points balance unless you're annually putting six figures of non govt spend through an Amex.

For most of us this has been true for a while, This just removes the doubt in some people's mind.

 

[andye]

For most of us this has been true for a while, This just removes the doubt in some people's mind.

why not do both (even if only 5 figures)?

 

[deka2]

I rang Amex today and was told there is no option to have an account reviewed with regard to the April changes.

I may try later tonight when the overseas office is open.

 

[inMotion]

David Jones AMEX membership rewards to be devalued from April:

Qantas
Current: 1 MR = 0.75 QFF
New: 1 MR = 0.5 QFF

David Jones giftcards
Current: 13,300 MR = $100
New: 15,000 MR = $100

 

[andye]

David Jones AMEX membership rewards to be devalued from April:

Qantas
Current: 1 MR = 0.75 QFF
New: 1 MR = 0.5 QFF

David Jones giftcards
Current: 13,300 MR = $100
New: 15,000 MR = $100

Any word on the category multipliers?

 

[Jacques Vert]

David Jones AMEX membership rewards to be devalued from April:

Qantas
Current: 1 MR = 0.75 QFF
New: 1 MR = 0.5 QFF

David Jones giftcards
Current: 13,300 MR = $100
New: 15,000 MR = $100

Do you have a reference for this?

They are still quoting the old rates on their website and a couple of days ago an agent told me the DJ rates are not changing.

 

[burmans]

why not do both (even if only 5 figures)?

I'm not planning to stop using credit cards (in fact most churn offers require a spend anyway)! But the desire to be loyal to any one cc provides has almost completely disappeared, so I wont be keeping most cards for long.

 

[SOPOOR]

Tried again to call up to see if any thing different this time.

Got a nice philipino lady who didnt try and tell me how great the changes were

Told me amex were trying to keep customers happy and still deciding what to do but csnt promise anything. But we will be notified by email/letter

Even took my feedback down( actually typed in my feedback word for word)
So it looks like something is brewing

 

[elogic]

Not sure if i missed any updates for the Amex Gold charge but i received the below

Dear Mr. B#6*(,

I am writing in relation to our telephone conversation concerning your American Express Card Account.

Please accept this letter as confirmation of the following actions taken on your Account:

- This is to confirm the information I provided you today, that whatever Membership Reward points you have by 15 April 2019, we will top-it-up by the same amount which should reflect on your account by 15 June 2019.

Mr. B#6*(, thank you for your time. Should you require any further assistance please do not hesitate to contact Customer Service on 1300 132 639.


I hope that I have provided you an excellent service!

 

[Chicken]

Not sure if i missed any updates for the Amex Gold charge but i received the below

Is this e-mail or paper mail? The letter for my gold charge is exactly same as letters for Edge and Reserve.

 

[elogic]

Is this e-mail or paper mail? The letter for my gold charge is exactly same as letters for Edge and Reserve.

Hi Chicken
I did an online chat and call , the online chat told me they activated the double points , I then asked for something in writing on the phone . Shortly after I received an email with the information posted . FYI Im putting 100k a month on the card

 

[Spizz]

David Jones AMEX membership rewards to be devalued from April:

Qantas
Current: 1 MR = 0.75 QFF
New: 1 MR = 0.5 QFF

David Jones giftcards
Current: 13,300 MR = $100
New: 15,000 MR = $100

Thanks for the heads up. Where did this info come from? Only use it for Supermarket spend which will reduce from 2.25 points per $ to 1.5 points per $. Don't know if the extra .25 points will be worth it over the Amex Ultimate card any more. Luckily the yearly fee is still low for DJs Amex at $99.

 

[lopes2017]

Thanks for the heads up. Where did this info come from? Only use it for Supermarket spend which will reduce from 2.25 points per $ to 1.5 points per $. Don't know if the extra .25 points will be worth it over the Amex Ultimate card any more. Luckily the yearly fee is still low for DJs Amex at $99.

According to Amex this morning in relation to halving of redemption rates for points transferred from DJs Amex to Velocity (from April). The response was:

"If you are transferring your points from Platinum Edge to Velocity then there is an impact. If you are transferring your points from DJ to Velocity then there will be no impact "

Note she also clarified there will be no impact to earn rates.....

Would help if we had a consistent response.