Reduced AMEX earn rates from April 2019

[SOPOOR]

Members with 5million+ MR, what are you guys going to do ? I have no idea what to do. Transfer to KF can last 3 years only
My original plan was 10 years business class!

Just a on the spot thought.
If you book a flight, cancel the flight and pay the fee. Do the points reset?

 

[zenyattamondatta]

Just a on the spot thought.
If you book a flight, cancel the flight and pay the fee. Do the points reset?

No.

 

[lang_13]

Just a on the spot thought.
If you book a flight, cancel the flight and pay the fee. Do the points reset?

Cancelled a flight with SQ recently. While doing so, agent checked to see if any of the points were due to expire. Only thing I could think would be to keep pushing back travel date and cop the change fee?

 

[SOPOOR]

Cancelled a flight with SQ recently. While doing so, agent checked to see if any of the points were due to expire. Only thing I could think would be to keep pushing back travel date and cop the change fee?

Does that mean if you booked a flight at 3 yrs for 3.5 yrs time and cancelled it, you'd forfeit all the points??

 

[bbqwer]

Rewardpay going to have hard time now. Most users will stop using amex at 2.4% + gst.
Unless rewardpay reduce fees to 1.2% + gst.

I am heavy user with RP, and will stop using it now. Time to build points on Visa/MC

 

[wxxnxs]

Will amex also be reducing the mr point value in their travel portal? Currently 1c /mr

Yes, 35%-50% devaluation.

 

[amaroo]

Rewardpay going to have hard time now. Most users will stop using amex at 2.4% + gst.
Unless rewardpay reduce fees to 1.2% + gst.

I am heavy user with RP, and will stop using it now. Time to build points on Visa/MC

I'm a new customer of RP ( 9 weeks) and have pumped >$600K thru the explorer card .... unless RP half their charge around April fools day 2019 .... I'm gone!

 

[Daver6]

Was told by an agent that all MR points earned before the change will be doubled, so the value transferred to airline partners will be protected. Also all the expenses including ATO payment will be earning at the normal rate. Not sure should I believe it or not, will check with another agent tonight.

You'd think if this was the case it would be publicised widely.

 

[Doctore1003]

You'd think if this was the case it would be publicised widely.

It’s not gonna happen. A post earlier quoted the Amex FAQ which clearly says your points balance will remain the same on 15 April.

 

[ninja-tim]

Rewardpay going to have hard time now. Most users will stop using amex at 2.4% + gst.
Unless rewardpay reduce fees to 1.2% + gst.

I am heavy user with RP, and will stop using it now. Time to build points on Visa/MC

Why stop now? Why not wait until March to stop using then transfer points across?

Members with 5million+ MR, what are you guys going to do ? I have no idea what to do. Transfer to KF can last 3 years only
My original plan was 10 years business class!

As someone else mentioned, you can get nearly 4-5 years of value before expiry. But just remember with KF (not sure with others) you can extend your points by 6-12 months depending on status. No status cost 1,200 miles per 10,000 miles to extend by 6 months or as Silver elite 1,200 miles per 10,000miles for 12 months.

Depending on how much you have warehoused and how much you're planning on using each year, 12-24% loss of points to extend by another year may be better than 50% loss to keep points warehoused in Amex.

Also, isn't the transfer rate between VA & SQ 1.55:1 ratio either way from Jan 2019? So it's either 15% bonus transfer now or wait to see if there is a better bonus offer next year before April.

We've still got 5 months to think of our own best way to spread/burn the points. Best to just wait and see what happens with everyone else, i.e. all the FF programs esp VA transfer bonus, by Feb/Mar then consider the options for transfer. May have to use this time to plan out the next 3-5 years of travel to see how much points to transfer and maybe transfer the rest to VA or keep warehoused. Have to also consider if the VA/SQ partnership is going to last as well if you're going to transfer large pools of points that way. Very scary thought.

Let's hope Amex sees the error in their way.

 

[dajop]

Accepting VISA/MC via my large Bank is a lottery re the cost to me for each $100 spent. ALL foreign buys (huge part of my business) cost me 3.25% flat. Outrageous, but that is the rate.

That is terrible. So when I'm spending in Australia using my Singaporean visa card, that's basically a 6.25% cut by financial institutions. No wonder we are getting 2.4 KF miles/$.

 

[trippin_the_rift]

That is terrible. So when I'm spending in Australia using my Singaporean visa card, that's basically a 6.25% cut by financial institutions. No wonder we are getting 2.4 KF miles/$.

I earn 3.5 KF miles/$ on my Malaysian Amex - for domestic spend
No annual fee, too!

 

[lovetravellingoz]

Why stop now? Why not wait until March to stop using then transfer points across?

.

I think you will find that what he meant was by stopping now was that he did not mean immediately, but just that he would stop using it

 

[lovetravellingoz]

It’s not gonna happen. A post earlier quoted the Amex FAQ which clearly says your points balance will remain the same on 15 April.

The outflow of Amex points just prior is going to be massive.

 

[lovetravellingoz]

I am of the view that disloyalty seems to pay more than loyalty ..

Well I am of the view that loyalty is defined by what is best for myself and my family

 

[bbqwer]

Why stop now? Why not wait until March to stop using then transfer points across?

There is No way I am transferring 5M points to SQ. And let it sit there for 3-4 years.

I will only transfer what I need for the next 2-3 years ( probably around 1-2m ). So be it if the rest must lose 50% value, at least I can keep the rest for 10 years without rushing to use it ).

 

[pauly7]

The outflow of Amex points just prior is going to be massive.

Suspect majority of customers will blink and miss this announcement/ not understand / not care. In our little circles yes there will be a higher than normal outflow of points I’m sure!

 

[unfunkable]

If you are dedicated to KF, and have much more MR points then you can use in 3-4 years. You could xfer to velocity at 1:1 prior.
Then transfer at 1:55-1 velocity to KF after - 100,000 velocity = 64500 kf. Still a massive cut, but better then 100,000 MR = 50,000 kf.
Velocity point's dont expire as long as you earn a point within a certain time frame I believe. But Velocity might change their ratio again with in 3 years...who knows.

 

[kaktusdigital]

You could xfer to velocity at 1:1 prior.
Then transfer at 1:55-1 velocity to KF after

And add to that a 15% bonus if one were to do it before the end of this month. looking at Pointhacks history on transfer promos. It would appear the traditional May and November transfer bonuses to Velocity are joined with various promos scattered in there. I do however wonder whether there will be any transfer promos after this November given so many people will be looking to clear their MR accounts. A 15% transfer now to Velocity which offers a sort of 'warehousing' looks like a decent strategy to me at least.

• November 2018: 15% bonus for flybuys, most card and hotel partners; 30-50% bonus for select partners
• August 2018: 15% bonus for Amex Membership Rewards cardholders, 20% for Membership Rewards Ascent
• May-June 2018: 15-60% bonus for bank rewards and hotel loyalty programs and flybuys (tiered); earn Velocity Gold or Platinum status by transferring Amex points (only for Platinum, Business Platinum and Centurion cardholders); get two lounge passes when transferring 100,000+ points from bank programs and flybuys
• February 2018: 30% off Velocity redemptions for Virgin Australia and some partner travel in all classes; 15% bonus for Amex and flybuys
• December 2017: 15-30% bonus for bank rewards programs (tiered); 15% for flybuys
• November 2017: 15% bonus for bank and hotel rewards programs and flybuys; 20% bonus for Amex Platinum Charge; 30% bonus for ANZ Rewards; earn Velocity Gold or Platinum status by transferring Amex Ascent points
• July 2017: 10% bonus for flybuys; 15% for Amex; 25% bonus for Amex Platinum Charge
• June 2017: 15% bonus for bank rewards programs; 20% bonus for hotel rewards programs
• May 2017: 15% bonus for bank and hotel rewards programs; 25% for Amex Platinum, Business Platinum and Centurion; 50% bonus for ANZ Rewards
• March 2017: 15% bonus for flybuys
• November-December 2016: 15% bonus for Amex and flybuys; 30% bonus for Amex Platinum Charge

 

[opusman]

Westpac has reduced the transfer rates earlier this month. now only 1 FF ppd for local spend.
( 1 WBC = 0.33 FF)

Westpac Black MC direct sweeps to QF at 0.75 ppd. Westpac Black Amex (which is issued by Amex, not Wpac) direct sweeps at 1.25 ppd to QF. Currently this Amex is not listed as one that's changing.