2025 Amex Membership Rewards Devaluation

[Bell21]

And this is why I abandoned Amex in favour of an HSBC Star Alliance Credit Card

The points earning caps, from memory, made it difficult to justify keeping it

 

[FlyingKangaroo]

YMMV - it will still probably have value for me given its breadth of perks, but they are making it challenging to keep, that's for sure!

I signed up initially in 2019 and kept a fairly diligent spreadsheet for the first few years until I determined I was safely getting more value from it than I was putting in with my annual fee and I quit bothering. Might be time to pull that back out next year!

 

[Bell21]

I signed up initially in 2019 and kept a fairly diligent spreadsheet for the first few years until I determined I was safely getting more value from it than I was putting in with my annual fee and I quit bothering. Might be time to pull that back out next year!

Lol, we signed up about the same time and I'm still keeping that spreadsheet alive! Still says 'keep', but that was prior to this deval...

 

[burneracc]

Ah thanks, good to know; that's a bit of nice-to-have consolation then.

Somewhat helps the value proposition - $400 in dining credits, $450 travel credit, unlimited priority pass, and ~$100 in statement credits per year + other intangibles ie insurances and hotel status bring it to around break even value for me before points earn.

FWIW I also have a spreadsheet, and have done extremely well out of my membership so far this year. Will probably keep it at least 1 more to see how “bad” it is post enhancements.

 

[FlyingKangaroo]

Somewhat helps the value proposition - $400 in dining credits, $450 travel credit, unlimited priority pass, and ~$100 in statement credits per year + other intangibles ie insurances and hotel status bring it to around break even value for me before points earn.

FWIW I also have a spreadsheet, and have done extremely well out of my membership so far this year. Will probably keep it at least 1 more to see how “bad” it is post enhancements.

Likewise. As long as I can continue to start each year with $850 of my $1450 fee paid in the form of TCs, I suspect I can very quickly get back up to break even. These changes won't be determinative, but do still chip away at the value of the points. Still good for QF and VA, but with the rest losing significant value, I'll have to give the other benefits closer scrutiny.

I can't keep my kitchen bench tidy but have somehow managed to colour-code spreadsheets for credit card benefits. Priorities, I suppose.

 

[Grrr]

I got an offer of the Reserve companion card but binned it… looking at it now, I can’t see anything about an extra travel credit

Is that a grandfathered benefit for those who signed up in the past ?

 

[Bell21]

I got an offer of the Reserve companion card but binned it… looking at it now, I can’t see anything about an extra travel credit

Is that a grandfathered benefit for those who signed up in the past ?

That’s right

 

[jaygee91]

wow, currently sitting on 3m amex MR points, was working on plans to attend World Cup 2026 - this change hurts, despite having a very healthy points balance, to lose between 1/3 to 1/2 in value seems steep!!

The card just lost significant value in my eyes!!

I have to be honest, i'm not sure what you were planning to use points for (flights or hotels), but you might already be too late. First round of tickets open in a few days, and while the results won't come out for a few months, I've already prebooked destinations that I hope to get (all refundable) - from what I see availability of even hotels are shocking or super exp.

I found some flights already which I booked before the Qantas deval - but when I check now, there's very little to/from the US on those dates.

 

[HisHoliness]

Looks like I'm sticking with Singapore Airlines/Velocity for pretty much all of my travel from now.

 

[burneracc]

Still good for QF and VA, but with the rest losing significant value, I'll have to give the other benefits closer scrutiny.

My one instinct now with these changes is that the QF ultimate is probably more than enough for me and many other people, especially if looking at the plat charge through the QF lens. Unless they enhance that card too.

 

[andye]

I (and the family supps) do ok with the card benefits alone especially as have a professional annual fee and have the old Reserve TC.
Still sad that what was once 3 (or even 4) points/$ with Edge is now down to 1 and Charge 0.75. I almost never transferred to QF but have done for VA so at least that is staying.
The Business Ascent preservation is interesting and might drive people to that (not a great option for me given my reduced fee and PR TC)

 

[Bell21]

I (and the family supps) do ok with the card benefits alone especially as have a professional annual fee and have the old Reserve TC.
Still sad that what was once 3 (or even 4) points/$ with Edge is now down to 1 and Charge 0.75. I almost never transferred to QF but have done for VA so at least that is staying.
The Business Ascent preservation is interesting and might drive people to that (not a great option for me given my reduced fee and PR TC)

Can you elaborate on business ascent preservation?

 

[burneracc]

Can you elaborate on business ascent preservation?

> ** Airline redemption rate changes are not applicable for Card Members enrolled in the following Membership Rewards Tiers: Business Ascent, Corporate Choices, Corporate Membership Rewards, Spirit and Corporate Spirit

Updates Membership Rewards | American Express Australia

Updates Membership Rewards | American Express Australia

www.americanexpress.com

 

[Bell21]

> ** Airline redemption rate changes are not applicable for Card Members enrolled in the following Membership Rewards Tiers: Business Ascent, Corporate Choices, Corporate Membership Rewards, Spirit and Corporate Spirit

Updates Membership Rewards | American Express Australia

Updates Membership Rewards | American Express Australia

www.americanexpress.com

Good pick up!! Thank you

 

[slowbro]

And this is why I abandoned Amex in favour of an HSBC Star Alliance Credit Card

Unfortunately with HSBC Australia being sold this credit card would be gone soon after

 

[random111]

I have to be honest, i'm not sure what you were planning to use points for (flights or hotels), but you might already be too late. First round of tickets open in a few days, and while the results won't come out for a few months, I've already prebooked destinations that I hope to get (all refundable) - from what I see availability of even hotels are shocking or super exp.

I found some flights already which I booked before the Qantas deval - but when I check now, there's very little to/from the US on those dates.

Family of 5
We have options to go via Cathay in PE, but couldn't find anything more direct where 5 tickets or even 3 and pay 2 cash were available
Hotels are a diff story as waiting on match tickets...

 

[jaygee91]

Family of 5
We have options to go via Cathay in PE, but couldn't find anything more direct where 5 tickets or even 3 and pay 2 cash were available
Hotels are a diff story as waiting on match tickets...

I had to book a flight from Nadi to LA in biz (for 2) - will have to figure out my own way to Nadi.

On the way back, I had to book a flight to Tokyo. Will have to figure out my own back back. With the deval, you might just want to transfer to CX and bite the bullet now with the exact points you need.

 

[Jack_OC]

The Amex Platinum card is now very borderline for me. This year I have used the $450 travel credit, and saved about $550 through Amex offers. I haven't managed to use the Accor free night yet. So as things stand I'm paying an effective $400 fee for moderately better points earning than with other cards, flexibility with transfer partners (nice to have), Priority Pass (which I barely use), hotel status (which is generally not high enough to really matter) and the free Australian subscription (which I could take or leave).

I have saved money on some airfares, but they are reimbursed by my employer, so that benefit has gone to my employer rather than me personally. Also, booking flights through Amex travel has downsides - much more hassle to cancel/change, as you usually have to phone them, sometimes less flexibility, and no QBR earning.

It's still not a bad deal overall, but the Amex offers are obviously highly uncertain, and without capitalising on them, it really wouldn't make sense. I am also thinking that the same fee put to one or more other cards could generate a lot more value in the short term through bonus points. For example Qantas Titanium currently offers 150k bonus points plus a better ongoing earn rate than Amex. The downside is putting all eggs in the QF basket obviously.

 

[FlyingKangaroo]

Yes, I'm sure the timing of this e-mail isn't sus at all.


Also kind of silly that it shows the dining credit but not updated to cover 2026; and still spruiks Amazon which is also set to expire in a few months.

It did, however, remind me that for the first time in my life I did break an iPhone screen and it was rather nice having that paid for.

 

[Bell21]

Yes, I'm sure the timing of this e-mail isn't sus at all.

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you get the award for the funniest post on this thread for the day - too funny to just post a smiley face