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

Status
Not open for further replies.

Nutcase

Active Member
Joined
Jan 29, 2005
Messages
525
Points
270
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.
 

Febs

Established Member
Joined
Aug 15, 2006
Messages
1,671
Points
405
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.
 

Shano

Established Member
Joined
Aug 17, 2006
Messages
1,244
Points
10
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.
 

oz_mark

Enthusiast
Joined
Jun 30, 2002
Messages
19,012
Solutions
4
Points
1,425
Nutcase said:
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 o get it back. Im not that fussed about it anyway, its a dud product.

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 :) )
 

Deeruck

Junior Member
Joined
Nov 10, 2003
Messages
20
Points
0
oz_mark said:
(although the value of a reduced APR might be questionable :) )

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.
 

pauly7

Senior Member
Joined
Dec 8, 2004
Messages
5,001
Points
870
Shano said:
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.

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!;)
 

Shano

Established Member
Joined
Aug 17, 2006
Messages
1,244
Points
10
pauly7 said:
Shano said:
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.
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!;)
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.
 
Status
Not open for further replies.

Enhance your AFF viewing experience!

From just $6 we'll remove all advertisements so that you can enjoy a cleaner and uninterupted viewing experience.

And you'll be supporting us so that we can continue to provide this valuable resource :)


Sample AFF with no advertisements? More..

Community Statistics

Threads
87,562
Messages
2,152,339
Members
54,554
Latest member
starrs
Top