Strategy to obtain US Amex

[albyd]

Thanks for the heads up. I'll go check some of my rates. I usually have a quick calculation when the pending amount flashes up on ApplePay notification but will pay closer attention now - I know there's also a difference between the "pending" rate that you see immediately after purchase and what it posts at some days later. This would blow out the economics. I only use mine at multiplier merchants (like fuel, dining, etc) but this would greatly reduce the benefit and I still have the FX risk which is enhanced with the AUD falling again.

 

[glasszon]

I checked two of my transactions that I did on my Hilton Aspire card. The difference is 0.4% and 0.7% respectively. I hope one day we will get an Amex card in Australia that doesn't charge FX fees.

 

[levelnine]

Thanks for the heads up. I'll go check some of my rates.

Yes, the pending charge is often different from the final charge, so don't rely on the pending charge when doing your own calculations.

I still think US credit cards are fantastic value, but they need to be used wisely. They are particularly good for:
- sign up bonuses (you can't earn, eg, 150K Hilton points from $6K spend in Australia)
- foreign transaction spend (it is very hard to earn points on overseas spend in Australia without paying exorbitant fees)
- free night certificates (the fact that I get a cat 1-4 Hyatt certificate each year for ~$AUD145 is amazing value — often redeemed at hotels going for $AUD400+ per night)
- acquisition of points in certain valuable currencies (you can't easily earn, eg, Hyatt or AA points on credit cards in Australia — very easy with US cards)

 

[Finale]

Beware, it appears Amex adds a spread of 1-3% on foreign currency transactions even on no foreign transaction fee cards.

For example:

View attachment 296088

On that same date, the mid-market rate was 0.680 according to xe.com and .6793 according to Oanda.

I have encountered something similar on Chase.

You also lose money converting AUD to USD as you never get the mid-market rate.

It is for these reasons that I'm sceptical of the value of using American cards for day to day spend outside of the sign up bonus period. Even if you earn more than Australian cards, you probably lose as much, if not more, on the currency spreads.

I spend mostly on MC which generally gives the best exchange rate. I remember seeing the report saying something like these cards add from 0.2% to 1%+ to mid market rate. These cards don't claim that they use the mid market rate as they have their own rates. Mid market rate is the midpoint between buy and sell so I doubt if the bank will really use it. At least MC is the closest from my exp.

Wise uses mid market rate plus fee so you are looking at adding around 0.5% to send $$ to the US. Maybe a bit less with Revolut.

I also factored in the transfer rate to Airlines (2->1 in Australia and 1->1 in the US). If the card gives you 1 point per $, it might not be that great but still kinda ok. 2ppd is starting to look good. ie you have to spend $4 on Amex Explorer to get 2 miles while only $1.51 (XE now) if using Cap1 Venture card. I spend quite a bit on 3ppd to 5ppd. I personally think anything 2ppd+ is good. It's like buying miles at super cheap price. Luckily I earn in USD to the US bank.

 

[sudoer]

Two New Amex & Chase Marriott Bonvoy Premium Credit Cards Are Now Open To Fresh Applications

New Marriott Bonvoy Credit Cards are out.

loyaltylobby.com

Amex Bonvoy Brilliant up to $650 annual fee, but carries Bonvoy Platinum status now!

$300 Marriott statement credit has become $300 annual ($25 pm) statement credit at global restaurants.

 

[joon8887]

Two New Amex & Chase Marriott Bonvoy Premium Credit Cards Are Now Open To Fresh Applications

New Marriott Bonvoy Credit Cards are out.

loyaltylobby.com

Amex Bonvoy Brilliant up to $650 annual fee, but carries Bonvoy Platinum status now!

$300 Marriott statement credit has become $300 annual ($25 pm) statement credit at global restaurants.

This $25 per month restaurant credit. Wonder it will work smoothly in Aus restaurant

 

[Mr He]

This $25 per month restaurant credit. Wonder it will work smoothly in Aus restaurant

Yes it will.

 

[http_x92]

Hopefully the Platinum perks of Bonvoy don't change, will see if there are changes to the tiers officially announced for 2023 before going for this card.

 

[levelnine]

Amex Bonvoy Brilliant up to $650 annual fee, but carries Bonvoy Platinum status now!

$300 Marriott statement credit has become $300 annual ($25 pm) statement credit at global restaurants.

Lots of rumours that Marriott are planning to nerf Platinum in the new year, removing free breakfast/lounge access and thus effectively making it useless.

And with the current exchange rate, you're paying an enormous amount for that 85K certificate: ~$AUD525 ($USD350)

 

[joon8887]

Yes it will.

are we able to use this now? (i.e. hotel credit already gone?)

 

[Mr He]

are we able to use this now? (i.e. hotel credit already gone?)

Yeah. And be quick for this month, as Sept. is ending soon.

 

[timmy1234]

Don’t think that will work . Don’t believe you will lane asked for pin - usually only signatures required .
Apparently pins are used for US cards only for atm withdrawals .

I came unstuck in europe at Petrol stations (not inside the stations which is manned) where it asked for pins. If the stations were unmanned, I could not use the card. I messaged Citi and they posted me a pin but it was too late.

 

[exmc]

Why not aim for the Chase Hyatt card itself. One of the biggest perk is you get 1 night free every year and 5k spend gets you 2 nights. Spend 15k and you get another Cert and total 11 nights. Comes in handy if you are aiming for Globalist.

Definitely getting the Chase Hyatt soon but waiting at the moment since the 15k spend is based on calendar year now and not anniversary anymore. Problem with the card is twofold - lack of optionality (i.e vs Chase UR, Amex MR) and lower multipliers across all categories. So this is probably just for Hyatt spend and 15k non-bonused spend then in the drawer.

 

[exmc]

Lots of rumours that Marriott are planning to nerf Platinum in the new year, removing free breakfast/lounge access and thus effectively making it useless.

And with the current exchange rate, you're paying an enormous amount for that 85K certificate: ~$AUD525 ($USD350)

I hope they nerf Platinum to some degree, this is such a slap in the face to people who earn at least some of the nights needed instead of an outright free comp. Getting upgrades as Plat is already hard and this will probably overwhelm hotels with DYKWIA flashing their Plat status. Optimally they remove lounge + suite upgrades for Plats and reserve only for Titaniums and above.

I would like to move to Hyatt but Globalist is a bit hard to reach with the footprint that Hyatt has at the moment....

 

[sudoer]

Optimally they remove lounge + suite upgrades for Plats and reserve only for Titaniums and above.

..which would (rightly) outrage anyone who has earned Lifetime Plat..

 

[desafinado74]

Two New Amex & Chase Marriott Bonvoy Premium Credit Cards Are Now Open To Fresh Applications

New Marriott Bonvoy Credit Cards are out.

loyaltylobby.com

Amex Bonvoy Brilliant up to $650 annual fee, but carries Bonvoy Platinum status now!

$300 Marriott statement credit has become $300 annual ($25 pm) statement credit at global restaurants.

I applied for my Aspire card via the GT method. If i decide to apply for this Bonvoy Brilliant card, i will need an ITIN isn't it ?

 

[Daventry]

I applied for my Aspire card via the GT method. If i decide to apply for this Bonvoy Brilliant card, i will need an ITIN isn't it ?

I think you can use the GT route twice

 

[Tiki]

I came unstuck in europe at Petrol stations (not inside the stations which is manned) where it asked for pins. If the stations were unmanned, I could not use the card. I messaged Citi and they posted me a pin but it was too late.

I just got back from Turkiye and had no problem in 98% of transactions on my Chase United Explorer even though it doesn't have a pin. I did use it at some petrol stations. Only twice did I encounter a merchant who could not accept pin-free signed transaction so I had to use an Aussie card for those. My dentist in Istanbul readily accepted my Amex Hilton Surpass and bonus 130k showed up 2 days later in my HH account. Chase only posts the sub after the statement is posted.

 

[glasszon]

I think you can use the GT route twice

Is two cards via GT a hard limit? I am hoping to hold three Amex cards eventually and hoping to avoid the need for ITIN.

 

[travelguy83]

Hi all.
Avid wanna-be 'travel hacker' here from Newcastle.
I run Ecommerce businesses and I've had Amex Platinum Charge Card for 2 years & Amex Platinum Reserve Credit Card for 1 year, and only recently ventured into the world of hotel/airline status & loyalty programs since travel has started opening up again. I read about 15 pages back in this insanely long thread but thought I'd just make this post asking for some help from a newbies perspective about the US Amex cards because it would help out other possibly overwhelmed people in a similar position to me to compile a summary of strategies now after these 183 pages .
I have Gold Hilton status and Gold Marriott status (both complimentary with the personal Amex Platinum Charge Card) & I see that Amex offers in the US several Hilton Amex and Marriott Amex hotel branded credit cards (Aspire, Surpass, Bevy, Brilliant) with awesome point sign up bonuses which I want to take advantage of to get a nice 1-2 weeks of free hotel stay. I understand that these offers are "available to US Residents" as in Terms & Conditions, but how do us Aussies living in Australia go about getting these cards?

Cheers,
Tim
P.S. I greatly, greatly appreciate any help offered