The end of the Rewards Maximiser Card

[smart1999]

Just got a letter yesterday from AMEX saying that they are retiring the Rewards Maximiser card with 4 weeks notice (11th of January!).

They are now offering some sort of scaled down Platinum card with 1.5 MR points/$ spent up to $100k for $192 per year. Not sure whether that's really a good offer. This card doesn't include the free flight or hotel night and interest rate is a whopping 19.99%.

I was actually thinking of downgrading my card to the $0/p.a. Gold or Platinum Card (can't remember what it was). I've seen an ad for it on the net but can't seem to find it now. I think it only earned 0.5 MR/$ but you could pay a bit extra (around $60 I think) to earn 1 MR/$. As I move more and more business to VISA because AMEX is only accepted with surcharge (now even at 5* Hotels!) I don't think it's worth spending $192/year on this card.

Has anyone else received the letter?

 

[serfty]

No letter here. Received a new card in November and annual fee is due to be charged in 10 days.

 

[creeno]

I too received the letter yesterday...

 

[sparoy]

Just got a letter yesterday from AMEX saying that they are retiring the Rewards Maximiser card with 4 weeks notice (11th of January!).

They are now offering some sort of scaled down Platinum card with 1.5 MR points/$ spent up to $100k for $192 per year. Not sure whether that's really a good offer. This card doesn't include the free flight or hotel night and interest rate is a whopping 19.99%.

I was actually thinking of downgrading my card to the $0/p.a. Gold or Platinum Card (can't remember what it was). I've seen an ad for it on the net but can't seem to find it now. I think it only earned 0.5 MR/$ but you could pay a bit extra (around $60 I think) to earn 1 MR/$. As I move more and more business to VISA because AMEX is only accepted with surcharge (now even at 5* Hotels!) I don't think it's worth spending $192/year on this card.

Has anyone else received the letter?

I've received the letter today.
I think it's a good deal, especially if they can keep waiving the annual fee (my experience so far).

I rather have this platinum card with no free flight or free hotel, but free supplementary cards and travel insurance and 1.5 MR points/$1 up to $100,000 then paying $395 or there about for plat card with free hotel/flight.

 

[Chimpy]

with 1.5 MR points/$ spent up to $100k for $192 per year.

After 100k spend do you still get points? At the moment there is no cap on the Rewards Maximiser Card but of course you get less MR points per $.

 

[NM]

After 100k spend do you still get points? At the moment there is no cap on the Rewards Maximiser Card but of course you get less MR points per $.

a $100K cap is not an issue for me. I use my Rewards Maximiser card only for personal spending and as much as I wish I had the income to push $100K through the card its not going to get close to that amount. I would be lucky to push $40K through it.

I'll look for the letter when I am back home tomorrow. I was considering dropping my Amex altogether and just using my free CBA Gold Visa for everything. My earn rate on credit cards is difficult to justify the cost.

 

[Flying Fox]

No letter here. Received a new card in November and annual fee is due to be charged in 10 days.

+1 here too

 

[smart1999]

After 100k spend do you still get points? At the moment there is no cap on the Rewards Maximiser Card but of course you get less MR points per $.

Just read through the brochure again and yes, once you've reached $100k you will still earn 1 MR/$.

 

[Chimpy]

Thanks for that information smart1999.

 

[sparoy]

After 100k spend do you still get points? At the moment there is no cap on the Rewards Maximiser Card but of course you get less MR points per $.

You'll get 1 point/$1 after the 100K spend, the same as the Plat card now.

 

[snufl]

I got the letter too. It will mean paying the fee once a year instead of monthly but I won't have to pay the supp card fee. Returning to 1.5 pts per dollar will be great. As I pay fully each month the interest rate doesn't come into my calculations. I gave Amex a call to make sure there would not be an extra fee for Ascent and was told no.

I haven't been willing to pay the Plat fee as the free flight/stay really isn't of interest so overall this suits me.

 

[lmere12]

I was told on phone this morning about the maximiser turning into platinum for $195. For me is a good deal I was trading anyways but was going to be charged $395 incl free flite/hotel. I don't mind losing the flite/hotel. Just booked flites for 74000 for 2 ppl in business saver from Hong Kong to Bris thru Kris flyer. All good for me

 

[kamchatsky]

I wonder if they will offer this card to the general public, or only existing RM customers. I would be interested actually.

 

[Mitch_W]

No letter from Amex as yet. Interestingly, phoned Amex back in June to canx this RM card as I had taken up the Westpac/Kris Flyer Amex/ Visa card deal (which was 3 miles per $ for the 1st 6 mths on the Amex and 1 for 1 on the Visa). Amex wanted me to keep the RM card so removed the fee ($192) for life, sighting that as I was an Amex Business gold charge card holder also, the RM card is classed as a "companion" card. Of course they didn't volunteer this info before when I was paying full freight for both cards! Just got a bill from Amex for $36 for additional cardholder card fee. I rang to say all waived for life and they gave me a $100 credit! Not bad... I wonder if they will waive the fee also when they want to swop it for the new platinum???

 

[WA flyer]

I also received this letter today.

I've been regularly churning cards and hardly used this card in the last year or so with the 3:1 Qantas/Krisflyer promotions from Westpac and the current CBA one.

The 100k cap is a concern for me. Is the regular Amex Plat cc capped?
If not paying the extra $200 may be my better option if I make use of the flight from Perth to Sydney/Melbourne each year!

 

[oz_mark]

The 100k cap is a concern for me. Is the regular Amex Plat cc capped?
If not paying the extra $200 may be my better option if I make use of the flight from Perth to Sydney/Melbourne each year!

It's the same. 1.5 points per dollar up to $100,000, then 1 point per dollar.

 

[Chimpy]

I think that i will change to the Krisflyer Amex, probably should of done it when the promotion was on.

 

[sparoy]

I wonder if they will offer this card to the general public, or only existing RM customers. I would be interested actually.

I spoke to Amex and they told me that it's only offered to existing RM cardholders.
Apparently they responded to complains about the reduced points from 1.5 pts/$1 to 1.25 pts/$1 on RM cards.

Although the changes won't be effective until 11 Jan 2010, they said I can start applying for the up to 4 free supplementary cards now.

 

[Flying Fox]

Got my letter with T&Cs today.

From my quick skim read, no new Platinum card issued until existing card expires.

 

[serfty]

Got my letter with T&Cs today.

From my quick skim read, no new Platinum card issued until existing card expires.

Same here, however, one difference I see from previous posters is that I am carrying a balance on a "promotional" interest rate (I rarely use this card, preferring my 13MO Platinum Credit card).

A new card will be issued next November, however, 3:2 earning will commence with use of the existing maximizer from 11/1/10.