New Amex - 2 points per $1

Discussion in 'General Credit Card Discussion' started by mbeder, Aug 8, 2007.

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  1. mbeder

    mbeder Member

    Jul 3, 2002
    205
    19
    Sydney
    For those of you able to apply for a business card, I've just seen a banner ad for a new Business Accelerator Amex offering 2 points per $1 up to a maximum of $150,000 per year (everst to 1:1 after that). Has a 90-day money-back guarantee and provides GST reporting.

    While this looks like another decent offering from Amex, one can't help feeling confused as it seems like we are bombarded with new offers from the issuers everyday.

    American Express
     

  2. Flying Fox

    Flying Fox Established Member

    Jul 13, 2006
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    Adelaide
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    OK so I have read this offer and it says that you get automatic enrollment into the AMEX CHOICES rewards but now I have a few questions -

    1. From what I can find out, you can't transfer points to QF. Am I right?

    2. Can you upgrade your rewards program to Ascent where you can transfer points to QF?

    Thanks for your help!
     
  3. mbeder

    mbeder Member

    Jul 3, 2002
    205
    19
    Sydney
    I've had another look at the offering. It seems that you can join Ascent, but will need to pay $80 per year for the privilege. This will then allow point transfers to Qantas or the other hotels or airlines in the program.
     
  4. Flying Fox

    Flying Fox Established Member

    Jul 13, 2006
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    Thanks for the information.

    I might give it a go!
     
  5. mbeder

    mbeder Member

    Jul 3, 2002
    205
    19
    Sydney
    FF - I've just spoken to an Amex CSR and have been informed that you're stuck with the Choices Membership Rewards program with this card, and are unable to "upgrade" to Ascent to have the opportunity to transfer points to an Airline program...could you perhaps give them a call and see if you get the same response?
     
  6. Flying Fox

    Flying Fox Established Member

    Jul 13, 2006
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    Following your advice, I called and got the same response.

    Thus, this one is a no thanks for me.
     
  7. savydog

    savydog Intern

    May 26, 2008
    50
    7
    Central Queensland
    You could spend 25000 to get 50000 points then gift to an Ascent member for a fee of $250. (Max 50000 points p.a.) I plan to do this with my card and transfer to wifes amex as she has Ascent on hers.

    Search " Gifting of American Express Points " as I can't post a link yet being a new member.

    Choices members can access flights through the current Travel Key promotions. Eg 128000 points Brisbane - London or Brisbane - Bangkok 47000 points which seems okay if you divide by 2 to get your spend needed.

    We are using this card with no surcharges from our local supplier under an arangement between them and amex. Other Cards would be charged around 1%. This means we can charge around $4000 a week to the card with no surcharges and get 8000 Choices points a week.

    Compared to no points at all I am sure we will find a use for our lowly Choices points some how.
     
  8. oz_mark

    oz_mark Enthusiast

    Jun 30, 2002
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    $250 for a transfer of 50000 points sounds expensive to me - almost to the point where you are buying the points ( 0.5c per point to transfer!)
     
  9. savydog

    savydog Intern

    May 26, 2008
    50
    7
    Central Queensland
    I see what you are saying. I just got a quote from QFF for a 5000 point top up and it was $182.50 so I know its better value than that. It would be used with her own ascent points for overseas travel where she could get a better seat or cover a shortfall if necessary.

    Where do you buy cheap bulk points ? Sorry I am new here, no doubt covered before.
     
  10. oz_mark

    oz_mark Enthusiast

    Jun 30, 2002
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    The difference is that with QF is that when you do a top up you are actually buying points (at 3.65c per point at that level). For Amex it is a transfer, but if it works for you great.

    The issue is that generally the redemptions of Amex points works at around the 1c per point level, so by the transfer you are paying for half of that! Anyway, if it works for you, and achieves what you are after, then it may be the best way.

    Others may have ideas
     
  11. savydog

    savydog Intern

    May 26, 2008
    50
    7
    Central Queensland
     
  12. vaidy

    vaidy Junior Member

    Jul 31, 2007
    13
    0
    Hi, mine is not a new Amex, but a corporate co-branded, non business gold card (AMA). I suddenly realised that I am earning 2 points for each $ under 'Gold Point Accelerator'. Wow! I neither received a mail from AMA nor AMEX about this change. I am not complaining, but wonder if these chaps will suddenly subtract the difference one fine day?
     
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