Qantas Amex Ultimate - Reduced APR or 1/2 Annual fee

Discussion in 'American Express Rewards' started by Nutcase, Oct 1, 2007.

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  1. Nutcase

    Nutcase Active Member

    Jan 29, 2005
    519
    64
    Just had a conversation with AMEX about cancelling my ultimate card. Here is the rub.

    Once put through to the retention team (sounds painful) the following offers were made.

    1) 1/2 price annual fee - I was only paying $250 as I was a long term AMEX customer which bought the fee to only $125. BARGAIN

    2) OR reduced APR (interest rate) to 12.74%

    3) Companion Gold Charge Card (Standard fee)

    They assumed that I already had a gold charge card hence the reduced fee to $250. Either way, this is a bargain. I also got approved for a Platinum Charge Card on the spot. No fee reduction for that unfortunately but I am a wanker so I took it.

    Tried the same trick with ANZ and beofre I knew it, they cancelled my card! I had only been with then for about 8 months so its going to be tricky to get it back. Im not that fussed about it anyway, its a dud product.
     

  2. Febs

    Febs Established Member

    Aug 15, 2006
    1,659
    158
    HKG
    Sounds like they might be trying to compete with Citibank, who are offering a $131/year fee for their equivalent card (to holders of the Gold card anyway).

    I didn't bite...would rather keep my fee-free Gold card for life...but $125 for the Ultimate card, with a free flight each year...that's a bargain. Well done! :)

    Cheers,
    - Febs.
     
  3. Shano

    Shano Established Member

    Aug 17, 2006
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    I recently got this card as part of the 40,000 points offer.

    Sounds like it will definitely be worth trying to at least get a fee reduction next year. Even getting the fee down closer to the Rewards Maximiser that I had prior to the Ultimate card would be a bonus.
     
  4. oz_mark

    oz_mark Enthusiast

    Jun 30, 2002
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    I didn't realise that long term Amex customers had an offer for a $250 fee. What do they classify as 'long term' for these purposes? Certainly is a bargain (although the value of a reduced APR might be questionable :) )
     
  5. Deeruck

    Deeruck Junior Member

    Nov 10, 2003
    20
    0
    12.74% is heading into low-rate card territory. Certainly is attractive if you have a big points earning purchase that you will be paying off over several months. 12.74% is better than 18.xx%, but I would be taking the lower annual fee if given the choice.
     
  6. pauly7

    pauly7 Established Member

    Dec 8, 2004
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    Did Amex lean on you to cancel your RM? I have a fee free for Life Amex Gold and just got the fee free for 1 yr / 40 000 offer for the Ultimate so will take it up for a year but want to keep my fee free if they try and charge me the standard Ultimate fee in a year!;)
     
  7. Shano

    Shano Established Member

    Aug 17, 2006
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    No, I elected to cancel the RM when I applied for the Ultimate card - no point paying 2 x fees.

    I did keep my fee free AMEX gold CC.
     
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