Planning to do my transfer tomorrow or Friday. Goodbye American Express...
Hi all,
After 15 years with AMEX, all of my working life, tomorrow I am cancelling my cards.
...
I think an AMEX point was worth 2.0 cents all day.
So thanks AMEX for forcing me to transfer today, or they effectively would have flogged $30,000!!!
...
It's a sad day.. AMEX have been a good company to work with for such a long time, and now they are stabbing good customers in the heart.
Welcome to the Club!
I've done it already - no more Amex Cards in my wallet, no begging for compensation for something that SHOULD NOT have taken place!
37 years of membership (1982) - one of the founding members of Amex in Australia and only now I have learned what this company has now become. It is all about money. Or, rather about money grabbing.
It is no coincidence they are reluctant to double membership points for members who collected a large amount of those. The membership rewards are MONEY!
According to the simple calculation,1M points is worth $10-20K, well, how much is worth 3M quoted above? Pointy Bird's 12M points is a small fortune! And all his efforts to be treated as valuable Amex member brought no results.
It is obvious any business in the world would fight for customers with such spending power!
Any - except for Amex! They have decided to resist it counting on a massive gain by grabbing as much as they can right now, in a very short time, without waiting for the commission from sales which would take many years to bring similar financial results.
With this plan we all became disposable.
The outcome of the "new brilliant business plan's" calculation was simple: It is not worth to keep them if they wanted to leave, especially with no place to run knowing of the three-year points spending limitation at the airline partners that makes the process of a decision making much harder and will force many to stay.
The risk worth taking with the assumption some of the Amex members will stay pretending nothing has happened. And they will be ready to pay new ridiculous annual fees for the privilege compensating for the ones who have decided to go their own way.
I was sad, really sad by all the sudden and unexpected development of my almost four-decades-long relationship with Amex, but with time passing I got used to it, and it helped me with my decision: I do not want to be any part of such a shonky business with no ethics. I will not support it.
"Don't leave home without it?". Oh no, I am staying, it is Amex that is gone.
And I feel much better making this decision.
Good luck to all