Big Four Bank Amex cards - The beginning of the end?

[asg29e]

Got a letter from ANZ bank today anouncing enhancement of their rewards program:

Dear asg29e

Important changes to your account:

No limit to the number of points you could earn.
Blah blah blah...

...Your ANZ Frequent Flyer American Express card in conjunction with your ANZ Frequent Flyer Visa card will earn QFF points as follows:

ANZ FF Platinum American Express card: 1 point for every $1 spent on purchases
ANZ FF Visa Platinum card: 1 point for every $2 spent on purchases.

OK, so the ANZ FF Amex was never the best of the bunch as points were capped, but seriously! Who is going to keep an AMEX at 1 point/$. Even if they have uncapped the earnings.

Oh well, instead of just gathering dust at the back of the drawer these are now going straight in the bin.

With the change in earn rates from traditional Amex cards, and now the start of enhancements from Amex cards from the big 4 banks, soon there won't be an Amex card left in Australia.

 

[cove]

Not brilliant news from ANZ.
I like to use the titanium scissors when I cut the cards up because the cutting edge is really good.

 

[amaroo]

Wonder if they're doing it alphabetically? I'm CBA - so should find out soon

 

[cove]

Amaroo are you thinking Westpac will be last? That would be nice.

 

[Hammando]

Bugger.

Effective immediately?

 

[asg29e]

Bugger.

Effective immediately?

Unfortunately yes. Those very words in the letter.

I'm not so much worried about this card as it was sort of useless before with points capping, but I've just got a brand new Westpac Earth Black Amex/Mastercard combo and I would hate that to be next.

 

[coles525]

Is that, or does that include the QFF platinum amex combo cards?

 

[asg29e]

Is that, or does that include the QFF platinum amex combo cards?

Exactly that.

 

[coles525]

Exactly that.

Mmmmmmm, I will need to check my mail when it arrives, as I've received nothing as of yet. Been told my Fee starts in July if i remember.

Off to HK for 3 weeks in May, so can't cancel until after the top (cc insurance).

 

[blessed11]

I'd be surprised if Westpac reduced their Amex earn rate in the near future, especially on the new Black cards as its a recently released product. One would think that if Amex points earn reduction was on the cards in the near future they would have initiated this 'enhancement' whilst placing the new point caps and launching the Black cards.

 

[Hammando]

Website still lists Amex earn at 1.5 per $ for the QFF Plat card.

T&C's say they can vary points earn by sending you 30 days notice in writing.

I'll get one last BAS through at least.

 

[asg29e]

Interesting that ANZ is still advertising 1.5points/$ for Platinum Amex on their website.

Credit Card Comparison - Compare ANZ Credit Cards | ANZ

I might give them a call tomorrow in case there is a typo in my letter. Like the Qantas Amex Ultimate typo

 

[Aussie_flyer]

seems NAB is about the best of the big 4?

 

[casanovawa]

Hmmm, ok well this combo will most likely go, the only reason to keep it is that i like the credit card insurance that kicks in with only a $250 spend on travel or accommodation... I currently pay just $55 a year of this card (just the QFF program annual fee) so maybe i will ask if i can transfer to just a normal old platinum rewards card if the insurance is the same, get the fee down to zero and then just use it for getting free travel insurance???

Time to look for a new point earner from one of the other banks as my day to day card...

 

[coles525]

Not brilliant news from ANZ.
I like to use the titanium scissors when I cut the cards up because the cutting edge is really good.

A year or so ago, bank wanted to take my cc to cut up (bank west).

So i did take it to a branch, already shredded using my paper/cc shredder.

They got every small "triangle" piece they wanted .

 

[Paddy55]

I hope CBA don't follow this path - I'm very attached to their Diamond Amex :shock:

 

[amaroo]

Amaroo are you thinking Westpac will be last? That would be nice.

lol.

My old, unused but still shiny CBA Dia Amex is sitting in the drawer just busting to get some strip action.....all going to plan - it will come 22nd July.

Going to have to do something about the credit limit.....my Ultimate has a lovely limit that has been fully utilised since joining AFF

 

[lovestotravel]

I hope CBA don't follow this path - I'm very attached to their Diamond Amex :shock:

Ditto, I currently use that card for everything except overseas use, and travel/restaurants in Australia

 

[greenfrog86]

Got a letter from ANZ bank today anouncing enhancement of their rewards program:

Dear asg29e

Important changes to your account:

No limit to the number of points you could earn.
Blah blah blah...

...Your ANZ Frequent Flyer American Express card in conjunction with your ANZ Frequent Flyer Visa card will earn QFF points as follows:

ANZ FF Platinum American Express card: 1 point for every $1 spent on purchases
ANZ FF Visa Platinum card: 1 point for every $2 spent on purchases.

OK, so the ANZ FF Amex was never the best of the bunch as points were capped, but seriously! Who is going to keep an AMEX at 1 point/$. Even if they have uncapped the earnings.

Oh well, instead of just gathering dust at the back of the drawer these are now going straight in the bin.

With the change in earn rates from traditional Amex cards, and now the start of enhancements from Amex cards from the big 4 banks, soon there won't be an Amex card left in Australia.

Can you expand on how you came to have this product...? ie have you always had the Platinum version, or did you previously have Gold (or other) and got upgraded by ANZ with no extra cost to you?

As far as I'm aware the ANZ QFF cards have always been uncapped, both across the basic card and the platinum version.

What was your points earn before this notice?

This just doesn't sound right unless it is an update to a product that was never a product that was on the market... ie it sounds like it is just some tidy up work for cards that were on an agreement that wasn't the product that is advertised to the public.

Don't suppose you could provide a scan of the letter (or the full content) without personal details?

 

[asg29e]

Can you expand on how you came to have this product...? ie have you always had the Platinum version, or did you previously have Gold (or other) and got upgraded by ANZ with no extra cost to you?

As far as I'm aware the ANZ QFF cards have always been uncapped, both across the basic card and the platinum version.

What was your points earn before this notice?

This just doesn't sound right unless it is an update to a product that was never a product that was on the market... ie it sounds like it is just some tidy up work for cards that were on an agreement that wasn't the product that is advertised to the public.

Don't suppose you could provide a scan of the letter (or the full content) without personal details?

OK, here goes.

I've had the Visa platinum for, like, forever. It used to be a good card (1pt/$) but then its earn rate got enhanced to 1pt/$2 and it ended up in the drawer gathering dust. I thought it had been capped too; I may be wrong in that but the letter sort of hints at that. So, my points earn on this Visa/Amex combo has been essentially nil over the last couple of years

Anyway, I moved on and got other better earning cards cards. Citi Select and Amex Qantas Ultimate became my go to cards. As you are probably aware these cards have been significantly kneecapped in the last couple of weeks as far as earning goes. So I have been looking at alternatives. It seemed a no-brainer to get the ANZ Amex Platinum added to my existing Visa card. It duly arrived, closely followed by the letter.

You may be right; this may be some sort of orphan card that doesn't quite fit with their current offering. But you can be sure I'm not going to pay $295 per annum for something that is essentially useless.

It seems to me they are offering the conditions of the standard ANZ frequent flyer combo, see ANZ Frequent Flyer Visa Credit Cards | ANZ but with platinum fees attached.

I am yet to phone them and find out why; I'll report the outcome.