Comm Bank to issue AMEX... changes to QF/Velocity point earning

[GoldCoastGuy]

Just went to Coles Express and made a purchase with the physical plastic without a PIN.

Worked fine.

 

[bestcard]

OK- have just gotten off the phone with Commbank- and can confirm this is correct.

So, if you spend 5K, you get 20,000 QF points.

I dont think there's any 5000 bonus point system- the 5000 points are the limit for the bonus point per $1 spent.

In saying that- the yearly points cap for this Amex is only 150,000. Absolute s**t.

In theory- if you throw 50K at this card before Feb, you'll reach the limit already.

After that, you've got an extra 100,000 points cap on the connected visa or mastercard, but the QF points conversion on those cards arent that good anyway.

Will definately rack up the maximum 150,000 points for 50K spend before Feb and then cancel the card probably and go back to the AMEX Ultimate.

agree with what you're saying on points cap - but 3 to 1 is a good deal

 

[lovestotravel]

Went to use the card at a carwash, but they didn't' accept Amex

Did use the Amex for petrol and it worked fine!

 

[Diesellife]

Can't wait... I have saved so many bills/invoices for it.... If I get the card by Nov 06... then I can reach the cap before Feb... 150,000 QFF here i come

 

[WA flyer]

Krisflyer isnt linked to the Qantas FF program though? Singapore airlines isnt it?

Correct, although SQ is arguably better value and is part of the Star Alliance, giving you access to a network of 25 Airlines as opposed to 10 at QF's OneWorld.

 

[SOPOOR]

still havent received mine

been about 2 weeks since i ve ordered,

also my online banking doesnn't show anything different

 

[WA flyer]

still havent received mine

been about 2 weeks since i ve ordered,

also my online banking doesnn't show anything different

Same here. I called today and was told that I'll have to wait untill they begin issuing them!

I did ask about the points cap and was told that it is based on a calendar year at 150K, but from the new year you can get up to 120K on a mix of Amex/MC points and then up to 80K additional points for Amex only!
This makes it a 200K cap as an Amex only card, which I would imagine is how most people will use it as the M/c is only worth 0.5:1 next year.

 

[SOPOOR]

didn't get it in todays mail....so disappointed,

for some reason the savings account linked to my MC the withdrawal limit was reduced due to some system error from $1000 per day to $100 per day, had to call up to get it fixed!

PS im hoping that the annual fee is waived because the line for annual fee is gone off my netbanking...

 

[Coathanger]

How long does it take between the American Express number appearing on the Account Information page in NetBank to the card arriving in the mail?

I'm skipping the country on Friday and the 4:1 earn rate will be quite handy (and exercised to the full).

 

[SOPOOR]

well I called up the bank today, apparently mines on the way.

this is my honest personal opinion.

I currently spend between 50k and 90k per year on my MC plat. the $200 annual fee does really get to me, I also have a standard visa which is fee free but i don't use becuase of the points ratio.

naturally the new caps of 150,000 on the Amex don't apply to me,

I believe that the annual fee is about to increase to $250 or $280, in which case i will be cancelling the card, I tried getting the annual fee waived every year in vain......

so the 4:1 ratio for the first $5000 is tops, the 3;1 ratio until feb 2010 is also tops,

once feb comes the ratio then becomes 1.5:1 which is pretty bad,

so if the time comes and I still have the card in Feb, I will simply be paying all bills and using the amex card without any surcharges as many businesses hate amex, as do I,

so overall, this new deal for me is just ok..

I wish they still had the citibank plat fee free for life, i would get one and hold onto it for dear life!

 

[Mal]

for some reason the savings account linked to my MC the withdrawal limit was reduced due to some system error from $1000 per day to $100 per day, had to call up to get it fixed!

Sounds like they put your card on fraud alert. Did they get you to change your pin too?

Also - does the Amex have a chip?

 

[GoldCoastGuy]

No chip on the card.

Also, no access to linked savings/cheque account via the AMEX card and you have to use the MC/Visa to get a balance via an ATM (you can change the PIN via the ATM though).


According to the flyer that came with the card, the bonus points offer lasts for 2 months from the date of the letter (not necessarily till Feb). It appears to be an ongoing offer for all new AMEX cards.


Evan :->

 

[Warks]

I've been getting all this blah about this Amex card but really who cares? Yet another damn credit card - yeah no fee they say and double points (only the first 75 000) but Amex is a useless card anyway, plenty of places don't accept it and everyone seems to charge 2.5% when you use it.

If it's so great then why not cut up your MC or VISA? Why do you need two/three cards?
I've got a Gold CBA MC which I use for my business, Suncorp VISA for home expenses and a Wizard MC for overseas ATM access. Another card?

 

[lovestotravel]

Amex is a useless card anyway, plenty of places don't accept it

Pretty much 100% of places that I shop/eat/visit accept Amex, but that's because I find out before I go there and boycott places that do not accept it

everyone seems to charge 2.5% when you use it.

The only place that surcharges it is my travel agent and local computer shop. But both of these charge for VI/MC as well albeit less.

If it's so great then why not cut up your MC or VISA? Why do you need two/three cards? I've got a Gold CBA MC which I use for my business, Suncorp VISA for home expenses and a Wizard MC for overseas ATM access. Another card?

You have a point here

 

[Diesellife]

I've been getting all this blah about this Amex card but really who cares? Yet another damn credit card - yeah no fee they say and double points (only the first 75 000) but Amex is a useless card anyway, plenty of places don't accept it and everyone seems to charge 2.5% when you use it.

If it's so great then why not cut up your MC or VISA? Why do you need two/three cards?
I've got a Gold CBA MC which I use for my business, Suncorp VISA for home expenses and a Wizard MC for overseas ATM access. Another card?

Well, its give and take here, Amex provided me roughly half a million QFF points a year...If I don't have it, the points will be cut more than half... So why would I choose to have less points to have the same payment method?

Apart from that I agree, many places do not accept Amex but then again, many places do accept them. E.g. supermarket, gas petrol..you just need to know where you take your business...

 

[basic]

Apart from that I agree, many places do not accept Amex but then again, many places do accept them. E.g. supermarket, gas petrol..you just need to know where you take your business...

Which supermarkets do you shop at? And, do they surcharge?

Do you have a resource that lists participating business that do or don't surcharge?

-Me

 

[lovestotravel]

Which supermarkets do you shop at? And, do they surcharge?

Do you have a resource that lists participating business that do or don't surcharge?

-Me

Accept Amex - No Surcharge
Woolworths
Coles

Accept Amex - Most do not surcharge
IGA

Do Not Accept Amex
Aldi
Costco

With Woolies and Coles you are covered!

As for places that surcharge or not, there is no such list. It is very rare for a business to surcharge.

Also the number of places that accept Amex continue to grow, and now with the CBA Amex card I expect that number to grow even further.

 

[basic]

Accept Amex
Woolworths
Coles
IGA - Most accept and do not surcharge

Do not surchage

Aldi - Does not accept Amex
Costco - Does not accpet Amex

With Woolies and Coles you are covered!

Sorry, that's a bit confusing. Are you saying Coles and Woolies don't surcharge? Because that's pretty cool...

 

[lovestotravel]

Updated my post.

 

[Diesellife]

The American Express Network - More Welcome in More Places

This above link - Although not comprehensive but it gives you a general idea of what merchants will accept Amex without surcharge.