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

[straitman]

Re: CBA AMEX offering

We received the same info from CBA about the new AMEX card. We are not happy with this - so likely to cancel our CBA card. Currently we have an Amex platinum, and there is no point to get another Amex card. Also, Amex cards are not widely accepted - so there is no real benefit in having another Amex card! Very disappointing at the changes made by the CBA.

Myrna,

Why cancel your CBA cards:?:

Why not just say no to the Amex if/when it is available:?:

 

[Diesellife]

Re: CBA AMEX offering

Myrna,

Why cancel your CBA cards:?:

Why not just say no to the Amex if/when it is available:?:

The most up to date info is that you don't have the option to choose... CBA will send out the Amex card automatically.

However, CBA seems to put that currently strategy on hold for further review...Guess they realized that a lot of the people will cancel if they change it to the new earn rate...

 

[straitman]

Re: CBA AMEX offering

The most up to date info is that you don't have the option to choose... CBA will send out the Amex card automatically.

However, CBA seems to put that currently strategy on hold for further review...Guess they realized that a lot of the people will cancel if they change it to the new earn rate...

.... and you then don't activate the card or am I missing something still:?:

 

[Diesellife]

Re: CBA AMEX offering

.... and you then don't activate the card or am I missing something still:?:

The earn rate will drop from the current 1:1 to 0.5:1. The 150,000 cap remains. Then what's the point to have such cards?

 

[straitman]

Re: CBA AMEX offering

The earn rate will drop from the current 1:1 to 0.5:1. The 150,000 cap remains. Then what's the point to have such cards?

Oops, missed that one. I'll voice my concerns to my manager on Tuesday when I see her. :evil:

 

[Diesellife]

Re: CBA AMEX offering

Thanks Bill...

 

[straitman]

Re: CBA AMEX offering

Thanks Bill...

I don't think it will do much good but I will try:!:

 

[Myrna]

Re: CBA AMEX offering

I guess we have to wait for further info from CBA on this. Like straitman, I will speak to my CBA manager about the new Amex card and the downgrading of points earned on Platinum Mastercard. If we voice our opinions to the bank managers, hopefully our complaints will go up the line and someone will listen!

 

[Diesellife]

Re: CBA AMEX offering

Hopefully.... But we all know that banks never listen...:mrgreen:

 

[sdhog2002]

Re: CBA AMEX offering

Hi all,
This is not on hold - got home last night to my new terms and conditions booklet which arrived in the post. As discussed, two new cards will be issued. No choice. The earn rates for Commonwealth Awards vary according to which award scheme you are on and what card you use. So, per dollar awards are:

Platinum Awards: Amex = 3 points; MC/Visa = 1 point
Gold Awards: Amex = 2 points; MC/Visa = 1 point
Awards: Amex = 1.5 points; MC/Visa = 1 point

For QF direct or Velocity, points per $1000 spend are:

1. Before 1 Feb 2010
Platinum Awards: MC/Visa = 1000 points
Gold Awards: MC/Visa = 666 points
Awards: MC/Visa = 500 points
It appears to me that you cannot earn QF direct points with the Amex card before 1 Feb 2010

2. From 1 Feb 2010
Platinum Awards: MC/Visa = 500 points; Amex = 1500 points
Gold Awards: MC/Visa = 500 points; Amex = 1000 points
Awards: MC/Visa = 500 points; Amex = 750 points

There is NOTHING in MY booklet about a points cap but I have checked the CBA site and the previously listed link (which documents the cap) is still active. So there's confusion!

 

[AlexFF]

Re: CBA AMEX offering

...so likely to cancel our CBA card. Currently we have an Amex platinum, and there is no point to get another Amex card.

So there is no real change for you, since you keep your current Mastercard?

The most up to date info is that you don't have the option to choose... CBA will send out the Amex card automatically.

That's actually incorrect now. All CBA-AMEX award cards will be 'opt-in' only, with the option to pick up a new card happening in the coming few weeks. Regulations meant the bank could not automatically issue new AMEX cards to everyone.

 

[Diesellife]

Re: CBA AMEX offering

So there is no real change for you, since you keep your current Mastercard?

Mastercard earn rate drops to 0.5 to 1. Because the new scheme requires 2CBA points per 1 QFF.

That's actually incorrect now. All CBA-AMEX award cards will be 'opt-in' only, with the option to pick up a new card happening in the coming few weeks. Regulations meant the bank could not automatically issue new AMEX cards to everyone.

Should CBA go ahead with the new scheme, the earn rate will drop effectively on the anniversary date.

 

[AlexFF]

Re: CBA AMEX offering

Mastercard earn rate drops to 0.5 to 1. Because the new scheme requires 2CBA points per 1 QFF.

Should CBA go ahead with the new scheme, the earn rate will drop effectively on the anniversary date.

I was referring to acceptance. The poster said they would close their card if they had to use AMEX, I was pointing out both schemes could be used. I wanted to clarify that point.

If the poster was serious about QFF points, then adjusting spending behaviour to use AMEX where there are no surcharges, then you would then reach the optimum of points. Places like Woolworths/Coles won't charge a surcharge to start with, and merchants are required by law to advertise any surcharges they impose.

 

[Diesellife]

Re: CBA AMEX offering

I was referring to acceptance. The poster said they would close their card if they had to use AMEX, I was pointing out both schemes could be used. I wanted to clarify that point.

If the poster was serious about QFF points, then adjusting spending behaviour to use AMEX where there are no surcharges, then you would then reach the optimum of points. Places like Woolworths/Coles won't charge a surcharge to start with, and merchants are required by law to advertise any surcharges they impose.

Most of us here who use CBA plat as a backup only (When Amex is not accepted). We already have AMEX(s) in our wallet and certainly I don't want 3+ Amex in it. All I want is 1:1 earn rate for QFF in Visa or MC.

It is therefore better to close the CBA cards when the new scheme comes because there are other products can still earn 1:1 or 1.25:1 for that matter.

 

[gem gem]

Re: CBA AMEX offering

If this goes ahead I will be cancelling my CBA plat MC but what other cards are available 1:1? I have tried over the past year to have my plat MC fee waived by the CBA but they won't. Has anybody else been able to have their MC fee waived and how did you do it?

 

[straitman]

Re: CBA AMEX offering

Has anybody else been able to have their MC fee waived and how did you do it?

NO and NO.

This has been discussed a few times and I don't recall any huge success in getting these fees waived.

 

[Maca44]

Re: CBA AMEX offering

If this goes ahead I will be cancelling my CBA plat MC but what other cards are available 1:1? I have tried over the past year to have my plat MC fee waived by the CBA but they won't. Has anybody else been able to have their MC fee waived and how did you do it?

Someone in another thread mentioned that Citibank had a card that still offered 1:1, but the question is for how long. It would appear that the majority of card providers have either changed their earn rate or in the process of doing so.

 

[Diesellife]

Re: CBA AMEX offering

Someone in another thread mentioned that Citibank had a card that still offered 1:1, but the question is for how long. It would appear that the majority of card providers have either changed their earn rate or in the process of doing so.

There is no way to tell whether Citibank will change their reward rate on its platinum. But then again, Citibank has never had any relationship to AMEX (Perhaps its because of the Diners Club) in any countries. So my speculation is that Citibank will not introduce dual cards system and will be likely to keep its 1:1 rate on its platinum. (Unless they start to make dual visa/diners :mrgreen

In relation to the CBA, I can't see a reason to keep them. I don't think they are exceptional compared to other banks, let alone the poor service.
The only reason which kept me going is the 1:1.

In my 6 years cards relationship with CBA, I have annual fee waived only last and this year... (After lengthy phone calls etc) - This is an exceptional case, which I believe they won't give it to me next year. Another reason to close it!

 

[oz_mark]

Re: CBA AMEX offering

. So my speculation is that Citibank will not introduce dual cards system and will be likely to keep its 1:1 rate on its platinum. (Unless they start to make dual visa/diners :mrgreen

Sometime many years ago, Citibank did offer platinum cardholders an additional Diners Club card. While not integrated from an account point of view (there were two accounts), they did give 1.25 Citibank Reward Points per dollar spent.

Given they have some facility to do so, perhaps sometime down the track they will offer Diner cards to the platinum card holders again.

 

[straitman]

Re: CBA AMEX offering

In relation to the CBA, I can't see a reason to keep them. I don't think they are exceptional compared to other banks, let alone the poor service.
The only reason which kept me going is the 1:1.

My only caution here is that over time I have seen and heard of much worse service from Citibank than I could ever imagine from CBA.