Amex "I'm going to cancel my card" - bonus points given thread.

[robtemt]

Just called about renewal dates for my Plat Charge, Reserve, and Explorer. Combined spend for the year probably just over $100K. Made no offer to retain. She just asked if I intend to cancel and I said yes, and she just repeated that I need to transfer my MR points points prior to cancelling or they will be "For-FEET-ed", and call prior to my renewal date. Not one question about why, or anything.

Fingers crossed that when I call next month, there will be a note that I've already enquired about cancelling so this call could be the real thing? lol

I can't imagine loosing all the cards, and waiting 18 months.

 

[Dr Ralph]

I can't imagine loosing all the cards, and waiting 18 months.

So far (just 4 months in) this has been a relatively easy experience for me. Gained nearly 300,000 bonus points from sign ups since cancelling my AMEX cards. Holding these AMEX cards would have restricted my ability to earn these other bonus points. In the next 14 months I expect to earn more than 1 million in sign up bonuses. If I had held AMEX cards instead I would have received 0 bonus points.

 

[The Warlock]

Hi all,

I recently binned all my AMEX cards to begin the 18 month lay off period.

My partner still has an AMEX Discovery card and she has a supplementary card in my name in addition to her Primary card.

To reiterate, I have no AMEX card accounts in my name anymore however there is a supplementary card held in my name under someone elses account.

Can anyone confirm if this is or isn't considered when assessing whether or not I hold an AMEX card?

Thanks in advance
The Warlock

 

[Plutonus]

I feel like this question comes up at least once per week.

No, supplementary cards don't count for the 18 month exclusion.

 

[foggy]

Just called about renewal dates for my Plat Charge, Reserve, and Explorer. Combined spend for the year probably just over $100K.
I can't imagine loosing all the cards, and waiting 18 months.

If you are putting $100k through the cards, that is at least 100k more pts you would be earning compared to a visa or MasterCard equivalent. Unless amex changes up the rules where you can receive multiple sign up bonuses, then there isn't a real benefit to cancelling the cards.

 

[Dr Ralph]

then there isn't a real benefit to cancelling the cards.

That's not the way I see it nor my current experience.

 

[sjk]

I went to cancel my cards last month when the fee on the Charge was due. Combined credit limit of around $33,000 on the Reserve and Explorer. After being put on hold a couple of times, I was offered 120,000 points, which I was told broke down into 48,000 for the Charge and 72,000 for the Reserve (which doesn't make a whole lot of sense to me, but still). Husband's Edge is up for renewal in June, guess we'll make another phone call then.

Edit to add:

2017 was about $160,000 on the Explorer, $20,000 on the Reserve, and $60,000 on the Charge.

 

[foggy]

That's not the way I see it nor my current experience.

Obviously you have stated in the past you don't spend much on the cards and value churning. For person I replied to, he/she would see more benefits keeping the card.

If you spend $100k on amex a year it would net at least 200k FF pts
Spend the same amount on the highest QF earning card and thats 100k qantas pts
Spend the same on the highest earning KF (st george) and thats 84k krisflyer miles

so you would be at least 100k FF pts ahead by keeping the card and also be able to participate in the promotions.
18 months for 100k-120k sign-up is not the best route in his situation.

 

[lovetravellingoz]

Obviously you have stated in the past you don't spend much on the cards and value churning. For person I replied to, he/she would see more benefits keeping the card.

If you spend $100k on amex a year it would net at least 200k FF pts
Spend the same amount on the highest QF earning card and thats 100k qantas pts
Spend the same on the highest earning KF (st george) and thats 84k krisflyer miles

so you would be at least 100k FF pts ahead by keeping the card and also be able to participate in the promotions.
18 months for 100k-120k sign-up is not the best route in his situation.

Also for example look at a recent way to manufacture points on a sharetrader (since closed).

If you had of pumped through $200,000 on your Amex you would have 400,000 MR points vs 200,000 QFF Points if you were manufacturing the points with such a card. Given the surcharge involved the manufactured MR points are even more attractive. If you had of managed to pump through even more $$, the benefit of having the higher point earning Amex would be even greater.

Some, including me, would also think 1 MR > 1QFF point putting you even further in front. I personally would value a KF point at double or more of a QFF point.


I like my 2/3 MR point combo as it allows me to grab opportunities such as as that one, in addition to the points earnt on normal spend.

Each to their own, but while I am a rabid card churner I personally do not churn these ones (or at least only one of my wife or I would at any point in time).

 

[Dr Ralph]

If you spend $100k on amex a year it would net at least 200k FF pts
Spend the same amount on the highest QF earning card and thats 100k qantas pts
Spend the same on the highest earning KF (st george) and thats 84k krisflyer miles

so you would be at least 100k FF pts ahead by keeping the card and also be able to participate in the promotions.
18 months for 100k-120k sign-up is not the best route in his situation.

'If you spend $100k on amex a year it would net at least 200k FF pts' That's just not true. The value of points differs between AMEX cards. Not every AMEX earns 2pts per dollar spend. The Qantas American Express Discovery Card, for example, earns much less than 2 points per dollar.

In any case, you appear to have missed the point entirely.

Spending $100k will net you at least 1 million points in 18 months if you churn. If you stay loyal to any card you will loose significant point earning opportunities.

But by all means keep doing what makes you happy. I'll keep building my tally by on average a million points a year with an average spend of much less than $100K. I've no doubt that keeping an AMEX card would loose me points.

 

[foggy]

No, you have missed the point entirely.

Spending $100k will net you at least 1 million points in 18 months if you churn. If you stay loyal to any card you will loose point earning opportunities.

Are you suggesting that keeping the AMEX card will affect your chances of applying for another visa/mastercard? or are you suggesting that meeting the spend of $3000-6000 on the churn card to earn bonus points is an issue?
Poster says he puts $100k annually on amex. I don't think meeting the spend on churn cards would be an issue even if he was churning 1 card a month.

 

[Daver6]

$1200 fee popped up (expected) on my Platinum card statement. I also have the free Platinum Reserve and QF Ultimate. Didn't call to cancel, but did call to ask if there is anything that can be done about the annual free. At first she said it can't be waived but noted I received 23k points last year. Explained I've only had this card 12 months, so she must have been confused with probably the QF card.

Anyway, she said she can see I have a few cards and will look into what can be done and call me back in 24 hours. I expect to hear something by lunch time tomorrow and will report back. Fingers crossed. Mainly interesting as no one else here has reported them "seeing what can be done".

 

[lovetravellingoz]

'If you spend $100k on amex a year it would net at least 200k FF pts' That's just not true. The value of points differs between AMEX cards. Not every AMEX earns 2pts per dollar spend. The Qantas American Express Discovery Card, for example, earns much less than 2 points per dollar.

Of course point earn differs per card. However I think you are missing the point that if you are going to pump $$$ through a card to maximise one's points earn that you do it on the card that will maximise that in terms of the program you want. So if you are going to put $100K through a card why would one do it on a low earning card? It would be foolish to pump through $100K earning at 0.5 points per $ when you could be earning somewhere between 2 and 3.

So one goes out of ones way to have the highest earning AMEX cards, and indeed not just any AMEX card. Just as one would not just use any VISA/MC card.

In any case, you appear to have missed the point entirely.

Spending $100k will net you at least 1 million points in 18 months if you churn. If you stay loyal to any card you will loose significant point earning opportunities.

For many people this statement is simply incorrect and would lead to lower total points gained. (Not to mention the loss of other benefits).

The logic of your statement is flawed. There is nothing to stop many people churning a multitude of cards while retaining other cards. I certainly do this, and based on the posts of many on this forum many, many others do too.

Not having the right Amex Cards also loses points that are there to be had. Having an Amex Explorer/Edge combo does allow a multitude of ways to garner 2/3 MR point earn opportunities including various manufactured spend opportunities that come and go.

But by all means keep doing what makes you happy. I'll keep building my tally by on average a million points a year with an average spend of much less than $100K. I've no doubt that keeping an AMEX card would loose me points.

Well in your case that may be true. For many of us it is not true as we earn more points by keeping certain cards while still churning CCs that stack up. Plus there are benefits to be had besides points.

Also not all points are the same value. A bit like not all $ are of equal value.

For myself I would value Krisflyer points at say twice that of a QFF point. Lower fuel fines, better value rewards by and large and better availability. Plus I prefer the product and service.

So in my case I would take 500K of Krisflyer points over 1 million QFF points. Not that I do not collect cheap QFF and VA points (and indeed CCs linked to these programs are normally the ones that are for me the ones that I churn the most) but I value them less than the ability to earn MR points (which can also be used on a number of programs besides Krisflyer). But again I collect them all.



.

 

[firstclasser]

Of course point earn differs per card. However I think you are missing the point that if you are going to pump $$$ through a card to maximise one's points earn that you do it on the card that will maximise that in terms of the program you want. So if you are going to put $100K through a card why would one do it on a low earning card? It would be foolish to pump through $100K earning at 0.5 points per $ when you could be earning somewhere between 2 and 3.

So one goes out of ones way to have the highest earning AMEX cards, and indeed not just any AMEX card. Just as one would not just use any VISA/MC card.



For many people this statement is simply incorrect and would lead to lower total points gained. (Not to mention the loss of other benefits).

The logic of your statement is flawed. There is nothing to stop many people churning a multitude of cards while retaining other cards. I certainly do this, and based on the posts of many on this forum many, many others do too.

Not having the right Amex Cards also loses points that are there to be had. Having an Amex Explorer/Edge combo does allow a multitude of ways to garner 2/3 MR point earn opportunities including various manufactured spend opportunities that come and go.




Well in your case that may be true. For many of us it is not true as we earn more points by keeping certain cards while still churning CCs that stack up. Plus there are benefits to be had besides points.

Also not all points are the same value. A bit like not all $ are of equal value.

For myself I would value Krisflyer points at say twice that of a QFF point. Lower fuel fines, better value rewards by and large and better availability. Plus I prefer the product and service.

So in my case I would take 500K of Krisflyer points over 1 million QFF points. Not that I do not collect cheap QFF and VA points (and indeed CCs linked to these programs are normally the ones that are for me the ones that I churn the most) but I value them less than the ability to earn MR points (which can also be used on a number of programs besides Krisflyer). But again I collect them all.



.

This is exactly my experience also. I don’t see the point cancelling and waiting 18 months to re-sign with Amex....and all for what?? 100k-150k sign up bonus points at best???
One point everyone has left out is you can also maximize your points earning opportunities by referring friends and family. I earn about 200k points a year by referring my parents, brother, gf, friends, work mates etc.
Also, not having a Amex and all the supp cards that come along with it, you cant maximize all of the Amex offers (shop small etc). This is worth about $1000 a year to me!

 

[Matt_01]

It is all just horses for courses and if you pick the right cards for your needs and what you want your points for I would not give up AMEX for 18 months to get 100k in points, I make more than double this on an annual basis. I cancelled my QF AMEX ultimate card and Velocity (free card). I also value KM ahead of QF so the ability to warehouse points in AMEX and move to a partner of choice make more sense to me.

My Plat Charge + the companion credit card (travel credits) effectively reduces my annual fee to $500. This card is only used for restaurants (3 pts per $), flights, hotels and international spend (2 pts per $). Converts to SQ or QF at 1:1
Explorer - Used for almost everything else that gets 2 pts per $. Converts to SQ at 1:0.75

 

[robtemt]

Explorer - Used for almost everything else that gets 2 pts per $. Converts to SQ at 1:0.75

Why do you calculate it at 1:0.75 for Amex to SQ?

 

[Matt_01]

Why do you calculate it at 1:0.75 for Amex to SQ?

AMEX have several rewards points programs. The points I earn via Plat Charge transfers to SQ at a rate of 1:1 this program also allows transfer to QF. The points I have earn via the Explorer is officially 4:3 or 1:0.75 this program excludes QF.

If there is a way to combine into a single AMEX program at a 1:1 rate I would like to know how to do that.

 

[robtemt]

If there is a way to combine into a single AMEX program at a 1:1 rate I would like to know how to do that

Call via the Plat Charge number, ask to have you explorer card linked to the same MR as the rest of your cards as it’s too hard to manage. I did it the day I got my explorer.

There are other threads on this as well, it’s how I learned to do it.

 

[daft009]

Yeah get them linked. Might take a few phone calls as some might say not possible. Say goodbye and try calling again

 

[lovetravellingoz]

This is exactly my experience also. I don’t see the point cancelling and waiting 18 months to re-sign with Amex....and all for what?? 100k-150k sign up bonus points at best???
One point everyone has left out is you can also maximize your points earning opportunities by referring friends and family.

Yes this is just one of the foregone benefits.

Points wise you can also add:

• Regular 5K pp Sup bonuses ( I remove and add back on others). Normally I earn a number of those each year
• Regular tops ups gained any time there are mistakes. Gain 1k to 20K out of these every year
• Point promos- sadly these are only a fraction of what they once were as Amex mainly does cashback promos these days But still gain 10-30K per year
• some can gain retention points (sadly I have not for a while now but I suspect having a points balance bouncing around a million points in my Amex account does not help).