2025 Amex Membership Rewards Devaluation

[Doctore1003]

The RBA reforms haven’t been finalised yet and wouldn’t kick in til 1 July 2026, so isn’t a bit early to react?

Also, the US (and other jurisdiction) Platinum card refresh is due to be revealed, so this update could be related to that.

 

[levelnine]

I’m a little less pessimistic. I think these changes are in response to the RBA plans. Interchange fees aren’t the only thing that dictates the transfer rates, though of course they are a significant component.

I doubt they’d want to do two devaluations so close to each other, that’s the sort of thing that would lose a lot of customers.

It'll be interesting to see. I think the UK is instructive because their interchange cap is identical to what the RBA is proposing. It is hard to see how Amex AU could afford to be 50+% more generous than Amex UK if the caps come into force.

On the loss of customers, the question becomes: where will they go?

Is a high spender racking up tens of thousands of dollars in charges each month going to switch to debit? At least with Amex they get an interest free period. And all the Visa/MC credit card options will be worse.

 

[Mr_Orange]

Some people will not be able to justify the annual fees, etc for low(er) earn. I have given up on the whole points earning game. It's just a scam unless you are able to maintain high status with the airline of your choice and get access to the seats.

I look for no, to low, annual fee and no international transaction fees in a credit card, these days.

 

[N0mad]

Some people will not be able to justify the annual fees, etc for low(er) earn. I have given up on the whole points earning game. It's just a scam unless you are able to maintain high status with the airline of your choice and get access to the seats.

I look for no, to low, annual fee and no international transaction fees in a credit card, these days.

i wouldn't say it's a scam, i have no status with any airline and managed Y to BKK late Dec and J return to Syd for a family of 4 late Jan. you just need to know how to play the game more effectively than everyone else.

 

[Mr_Orange]

i wouldn't say it's a scam, i have no status with any airline and managed Y to BKK late Dec and J return to Syd for a family of 4. you just need to know how to play the game more effectively than everyone else.

Scam was a poor choice of words. 'Rigged' is probably better. To the uninitiated, the lure of 'free', ahem, flights gets them on the points earning train but the reality turns out to be quite different.

 

[Viridis]

Scam was a poor choice of words. 'Rigged' is probably better. To the uninitiated, the lure of 'free', ahem, flights gets them on the points earning train but the reality turns out to be quite different.

I think, to be fair, even ‘rigged’ is a little harsh; it’sa business

As consumers we try and milk it for all it’s worth; as a business, they try and maximise profit

The ‘lure’ is just good marketing. I struggle to get seats because my employment doesn’t allow me to plan much in advance. But my eyes are ‘wide open’ and I do what I can with reasonable success

I no longer have any useful status but I won’t travel in economy so it doesn’t matter

When I retire I hope to have even more success

 

[Jacques Vert]

Updates Membership Rewards | American Express Australia

Updates Membership Rewards | American Express Australia

www.americanexpress.com

 

[andye]

Updates Membership Rewards | American Express Australia

Updates Membership Rewards | American Express Australia

www.americanexpress.com

Curious that BA is listed as a current partner.
And also Business Ascent not changing

 

[somebol]

 

[mrtupperware]

Centurion holder. Just received email. I wonder if they will bump us from 2.5 up to higher earn to compensate for that. This devaluation makes me question if the annual fee is worth it or not

 

[shuuy]

Big devaluation. Unhappy. Will not renew my Amex Plat, and need to make choices earlier than I would like with my 1.5m points

Likely going to Qatar

 

[lovestotravel]

0 impact for me which is good. I use my points on SQ

 

[daft009]

Reckon we will get to ask for a point bonus / inflation for anything pre devaluation like last time?

earn rate still staying the same... so i doubt it.
last time the earn rate halved

 

[gapmatt]

0 impact for me which is good. I use my points on SQ

its good they didnt devalue it any further. It was already changed from 2:1 to the 3:1 about 1-2 years ago

 

[SeaWolf]

Centurion holder. Just received email. I wonder if they will bump us from 2.5 up to higher earn to compensate for that.

I think if they were going to do that they would have announced it at the same time, to soften the blow.

 

[xtez88]

Converting my 1.3mil points to Qatar and downgrading to the gold card seems the go …

 

[Bell21]

I think if they were going to do that they would have announced it at the same time, to soften the blow.

I think it took them a while last time to come out and soften the blow for Plat/Centurion? I'm just not expecting them to do it this time, unfortunately.

Converting my 1.3mil points to Qatar and downgrading to the gold card seems the go …

it's not a bad option in some ways re Qatar - given you get access to QFF via BA as well and VFF via Qatar.

 

[Doctore1003]

I wouldn’t expect any action on earn rates to ‘soften the blow’. If anything, earn rates might come down next year when RBA changes kick in.

 

[ChrisFlyer]

it's not a bad option in some ways re Qatar - given you get access to QFF via BA as well and VFF via Qatar.

Just to clarify, you can't access Qantas Frequent Flyer through BA, or Velocity Frequent Flyer through Qatar. You can, however, redeem BA Avios directly on Qantas flights, and redeem Qatar Avios on Virgin Australia flights. Technically, you can redeem Qatar Avios on Qantas flights as well, but there's basically no availability released to Qatar.
You can transfer Avios between BA and Qatar, but yeah, not from either program to Qantas or Velocity.

 

[Bell21]

Just to clarify, you can't access Qantas Frequent Flyer through BA, or Velocity Frequent Flyer through Qatar. You can, however, redeem BA Avios directly on Qantas flights, and redeem Qatar Avios on Virgin Australia flights. Technically, you can redeem Qatar Avios on Qantas flights as well, but there's basically no availability released to Qatar.
You can transfer Avios between BA and Qatar, but yeah, not from either program to Qantas or Velocity.

Thanks - yes, that's what I meant!