Reduced AMEX earn rates from April 2019

[daft009]

thanks guys.. lets see what happens.
have been approved on their online system as just completed the application.
I will more than likely empty my balance pre April 15th, unless I get something written about the doubling from them (1st option). either way I think I can spend my balance before the 3yr expiry via KF.

to be honest doubling or not, I was contemplating the charge anyway in the new year.
the lounge access domestically with AU and Asia, and arrival lounge access internationally is worth it.

still have ~5months to go hard with my explorer/edge combo to earn

Fair enough. You are essentially going to pay $1450 to double your existing points balance so there must be some Maths you can do to see if that is worthwhile for you.

Are you planning to keep the Charge with the ongoing reduced earn rates and, if so, will you get value from the annual fee?

applied for the CPA version, so $1200 AF. $750TC (once I get the reserve). Another $450 is not hard to justify with all the other perks.

Regardless of the devaluation I see no other card which offers a better earn potential. I also have quite a few suppliers who do not charge anything for amex and another who charges for MC/Visa but not for amex.

Would be a bonus if RP reduce their fees & come to the party but could manage without that too I feel at this stage.

 

[Bell21]

All the best. Hopefully you will find out about the approval online. The charge card is couriered from Singapore ... thus a very quick process. Might get it by Friday/Saturday if approved today!

Edit: Don’t forget $250 less for the annual fee if you belong to a professional association

Is it any professional association or just the ones I've seen referred to over time? (Eg accountants if I recall correctly)

 

[Mr_Orange]

Is it any professional association or just the ones I've seen referred to over time? (Eg accountants if I recall correctly)

The list of professional associations had been cut in recent years. It used to include Engineers Australia, for example, but now does not. I'm not sure which ones are left.

 

[imipenam]

Is it any professional association or just the ones I've seen referred to over time? (Eg accountants if I recall correctly)

Legal, medical, engineer and cpa/accountant are ones I am aware of. Probably dental ...

 

[kkl]

Would an online chat transcript be enough "proof" for doubling of amex points before signing up for plat charge?

 

[SOPOOR]

I had a chat with RP last week, as mentioned upthread by someone else - they are in discussions with Amex and are acutely aware what will happen to their business if the fee isn't reduced.

The ever changing game....

yeah very intersting, even though I dont use RP,

so they have a model thats 100% reliant on the merchant fees of AMEX and demand from customers in terms of reward points

and now with the deval, they may lose more than 50% of their customer demand

 

[wohoo]

I have received the letter detailing that my points will double for the platinum card. I wondered if transferring points to marriot post doubling maybe a sound strategy to keep excess point I won't use for KF redemptions.

I am only member with Amex since 02/2017. My spend on the platinum card was only like 33k p.a (thank you 7-11) if that helps.

 

[andye]

I have received the letter detailing that my points will double for the platinum card. I wondered if transferring points to marriot post doubling maybe a sound strategy to keep excess point I won't use for KF redemptions.

I am only member with Amex since 02/2017. My spend on the platinum card was only like 33k p.a (thank you 7-11) if that helps.

It would be an OK redemption but IMO you might as well keep them warehoused in Amex

 

[k3nnis]

For people who are cancelling the Amex due to this enhancement what cards are you guys holding onto or sign up to?

 

[amaroo]

yeah very intersting, even though I dont use RP,

so they have a model thats 100% reliant on the merchant fees of AMEX and demand from customers in terms of reward points

and now with the deval, they may lose more than 50% of their customer demand

If the fee doesn’t drop by a very decent amount they’ll lose more than 50% IMO ..... FWIW they’ll lose 100% from me. I’ve paid them around $15k in fees over the past 3.5 months .....

 

[Sharp75]

For people who are cancelling the Amex due to this enhancement what cards are you guys holding onto or sign up to?

I cancelled it yesterday. it wasn't really my intention but they didn't offer anything to keep me on board and I cancelled it. Currently only have citi signature + diners pair (and 28 degrees for overseas travels). I'm considering options.

 

[SOPOOR]

I have received the letter detailing that my points will double for the platinum card. I wondered if transferring points to marriot post doubling maybe a sound strategy to keep excess point I won't use for KF redemptions.

I am only member with Amex since 02/2017. My spend on the platinum card was only like 33k p.a (thank you 7-11) if that helps.

wow you are lucky
I got two letters for exp and edge,
nodoubling for me

 

[Mr_Orange]

For people who are cancelling the Amex due to this enhancement what cards are you guys holding onto or sign up to?

HSBC Premier Mastercard and Bankwest Zero Platinum (for overseas spend) - no annual fee for either.

Continual churn of bank-issued QF cards for the sign-on bonii.

 

[SOPOOR]

If the fee doesn’t drop by a very decent amount they’ll lose more than 50% IMO ..... FWIW they’ll lose 100% from me. I’ve paid them around $15k in fees over the past 3.5 months .....

I didnt want to make the assumption without any eivdence or idea that a huge proprotion of people using RP were doing it mainly for the points, Isuspect that some people who dont really play the points game will still think it financially makes sense forthe interest savings and tax deductions

just find it very interesting, if they cant come to an agreement, they will essentially just shup up shop

 

[andye]

For people who are cancelling the Amex due to this enhancement what cards are you guys holding onto or sign up to?

For the Velocity people Coles MC is quite good. Transfers 1 VFF per $ during one of the regular transfer bonus periods. No overseas fees. The forthcoming VF to Krisflyer transfer reduction makes it less valuable

 

[k3nnis]

For the Velocity people Coles MC is quite good. Transfers 1 VFF per $ during one of the regular transfer bonus periods. No overseas fees. The forthcoming VF to Krisflyer transfer reduction makes it less valuable

Thanks yeah I want best KF transfer if possible I have a free for life Citi signature visa but it’s poor earning rates.

 

[albyd]

Dragon Visa would be currently best Visa/MC on Market for that. It's widely expected it might be pruned back a bit so I'd make hay while the sun is shining on that one.

 

[SOPOOR]

Dragon Visa would be currently best Visa/MC on Market for that. It's widely expected it might be pruned back a bit so I'd make hay while the sun is shining on that one.

at 0.75 its not bad
but Anz black is 1ppd, but transferring to qantas, up to 7.5k per monht

 

[David L]

Ok, so I've held Platinum Charge since the end of last month, and when I called up to see if the value of my points will be 'protected' he said No. But call us again in March and we will see what we can do for you...

My points balance is 2m+, mainly because they combined my Explorer/Edge points with my Ascent Premium points.

 

[potm]

Ok, so I've held Platinum Charge since the end of last month, and when I called up to see if the value of my points will be 'protected' he said No. But call us again in March and we will see what we can do for you...

My points balance is 2m+, mainly because they combined my Explorer/Edge points with my Ascent Premium points.

Have you received a letter advising of the changes yet? I don’t think we’ve had anybody with a charge not get the note on their letter saying points would be doubled.

I suspect the agent just gave you incorrect information.