Points earn: rounding down.

[R36snowbound]

For the first time in ages, I logged into the AMEX website and searched membership rewards. After checking how many points I had, I then checked how points were awarded for some of my transactions.

This may sound like me being a penny pincher yet I was suprised by the fact that a transaction for $19.95 earns 19 points. I had never really thought about how they handle transactions which are not an even dollar value.

I don't think cardholders should earn 0.95 a point, I would have thought that they would round up or down, like most other finanical transactions do.

 

[lovetravellingoz]

For the first time in ages, I logged into the AMEX website and searched membership rewards. After checking how many points I had, I then checked how points were awarded for some of my transactions.

This may sound like me being a penny pincher yet I was suprised by the fact that a transaction for $19.95 earns 19 points. I had never really thought about how they handle transactions which are not an even dollar value.

I don't think cardholders should earn 0.95 a point, I would have thought that they would round up or down, like most other finanical transactions do.

Yes they changed it to this a year or two back. It used to be more generous to the cardmember.

 

[zig]

Yup, that was another enhancement Amex made a couple of years back.... constant deterioration of their product.

 

[zinkle]

I found Amex Plat Edge rounds down, however Velocity Plat Amex seems to carry over the cent value to the next transaction
ie

1. $20.95 spend credits 20 points then the next;
2. $10.40 spend credits 11 points

 

[R36snowbound]

Thanks everyone for the replies, AMEX must be saving a bundle on points with this rounding down rule.

I did a quick check of my last statement and during my last statement period I had 26 transactions that had been rounded down.

Imgaine that multiplied across every card used in Australia.

 

[docjames]

Yes, as noted changed a while ago.

Transactions I can set the amount i "round up" so eg. utility bills that are say $176.85 I just pay $177 etc.

 

[Sharp75]

Yes, as noted changed a while ago.

Transactions I can set the amount i "round up" so eg. utility bills that are say $176.85 I just pay $177 etc.

Make sure you don't get 0.5 point per $ from your utility bills while trying to make that additional 1 point. I stopped using Amex with my utility bills/government body payments since the 0.5 point rule.

 

[akeno]

Make sure you don't get 0.5 point per $ from your utility bills while trying to make that additional 1 point. I stopped using Amex with my utility bills/government body payments since the 0.5 point rule.

Yes true, we have to be careful when paying utility bills because of earning half points for those. This hasn't stopped me substituting by paying via Paypal method which earns me the full point.

 

[AdMEL]

Make sure you don't get 0.5 point per $ from your utility bills while trying to make that additional 1 point. I stopped using Amex with my utility bills/government body payments since the 0.5 point rule.

Yes true, we have to be careful when paying utility bills because of earning half points for those. This hasn't stopped me substituting by paying via Paypal method which earns me the full point.

All the fuss about 0.5 point per $ for paying utility bills is silly, for two reasons:

1. Many utilities don't accept Amex (most of mine don't).

2. It has only just dawned on me that when it's all said and done there aren't too many Visa/MasterCard's that give you better than 0.5 of a VFF, QFF or any other FF point, after conversion. WW at 1 pt, Westpac Black at 0.625 and a couple of others (Citi Select, Signature and possibly CBA Diamond?) are tge only ones that I can think of.

 

[akeno]

Yes it seems silly to fuss over utilities that don't accept amex in the first place and that is the reason why I substitute by paying with paypal.

AGL Gas and Electricity doesn't take Amex and the only way to earn the Amex points is to pay via postbillpay and use Paypal.
Another one, Telstra I simply use Paypal to pay for all my phone bills to earn the full reward points on Amex.
My local council, I also use Paypal etc
Other charges made to the government...paypal again.

Following this method of pay is like jumping through loops but its satisfying to earn the full points.

Forgot to mention that my Amex is linked to my paypal.