To quit Amex or not to quit - that is the question

[ffhound]

Hi all

In the last year I signed up for the Amex velocity card (the one with no annual fee) and got the bonus points for signing up. I don't use the card much except for the various shop small promotions.

However of late I have been looking at the high end Amex cards with substantial sign on bonuses eg 100,000 points and/or the Explorer card. However one can't have held an Amex card in the past 18 months.

it seems the only way I can qualify for these sign on bonuses is to cancel my Amex card and wait the 18 months which seems a bit counterintuitive i.e. Amex's sign on bonuses are motivating me to cancel my Amex card and not use Amex's services for 18 months.

If I ring Amex and ask to cancel my card will they sometimes waive the 18 month rule?

cheers Peter

 

[Atleastonce]

I am interested what they tell you. I am in the exactly same position.

 

[AviationNZ]

Hi all

In the last year I signed up for the Amex velocity card (the one with no annual fee) and got the bonus points for signing up. I don't use the card much except for the various shop small promotions.

However of late I have been looking at the high end Amex cards with substantial sign on bonuses eg 100,000 points and/or the Explorer card. However one can't have held an Amex card in the past 18 months.

it seems the only way I can qualify for these sign on bonuses is to cancel my Amex card and wait the 18 months which seems a bit counterintuitive i.e. Amex's sign on bonuses are motivating me to cancel my Amex card and not use Amex's services for 18 months.

If I ring Amex and ask to cancel my card will they sometimes waive the 18 month rule?

cheers Peter

Very interested to hear the opinions of others on this as I'm thinking the same thing. Have had a Platinum Edge for many years an accrue approx 55-60,000 points per year from day-to-day spend, but the 100,000 point sign on bonuses are enticing, even knowing that I could only get them once every 18 months.

 

[rgalbr10]

I had the platinum edge for a number of years and wanted to move to the explorer. While Amex would allow this they said I wouldn't get the bonus. Bit the bullet, cancelled the card and started the 18 month timer. In the meantime got my partner, who had been a supplementary cardholder on my edge to open the explorer, and I am now a supplementary cardholder. Ensures we always have an Amex for the higher point earnings and can get the bonus points every 18 months.

 

[Dr Ralph]

I don't believe they will waive the 18 month waiting period.

Dont forget you can open the David Jones Amex card even if you have held another Amex within the last 18 months.

 

[ffhound]

Sounds Ok. But going the other way, if you had a David Jones Amex card would that prevent you from getting the welcome bonus with other Amex cards?

 

[Comoman]

I don't believe they will waive the 18 month waiting period.

Dont forget you can open the David Jones Amex card even if you have held another Amex within the last 18 months.

I had the Velocity Amex card - converted it to a Platinum charge card.

I got the 100,000 sign on points - this was approx 1 year ago. Probably lucky me!

 

[NZflygirl]

I had the platinum edge for a number of years and wanted to move to the explorer. While Amex would allow this they said I wouldn't get the bonus. Bit the bullet, cancelled the card and started the 18 month timer. In the meantime got my partner, who had been a supplementary cardholder on my edge to open the explorer, and I am now a supplementary cardholder. Ensures we always have an Amex for the higher point earnings and can get the bonus points every 18 months.

I did something similar, made the partner sign onto a card for the bonus, then cancelled that at end of that year and I signed up for a different card in the mean time, so if I cancelled my card I'd just get him to sign up once 18 months are up from when he cancelled his card. He is currently my supplementary card holder which means he gets all the bonuses except the A+ deal they have still going on the NZ card.

I'm looking at cancelling the plat edge card as he fell in love with bargain box where ingredients and recipes are sent to you (he hates grocery shopping) and it actually lessens wastage and the meals are healthy etc so our grocery shopping is pretty light these days. Still have the charge card though which I'm actually getting good mileage out of. Can just use the charge card for fuel etc.

Once you've transferred your MR points to airlines etc, if you cancel your card they can't get the MR points back right? Or do you actually have to have USED or applied the points within the airline account for them to be safe from MR?

We're yet to use the MR points for anything:-|.

 

[rgalbr10]

Once you've transferred the points out of the Amex MR account, they can't take them back when you close the AMEX account (unsure what they do if you are trying to defraud them i.e. large transaction, transfer out points, refund transaction, close account with negative points balance).

Be aware that some airlines require you to use the points or have activity on your frequent flyer account to keep them active within a specified time period i.e. SQ must use within 36 months.

 

[NZflygirl]

Once you've transferred the points out of the Amex MR account, they can't take them back when you close the AMEX account (unsure what they do if you are trying to defraud them i.e. large transaction, transfer out points, refund transaction, close account with negative points balance).

Be aware that some airlines require you to use the points or have activity on your frequent flyer account to keep them active within a specified time period i.e. SQ must use within 36 months.

Good to know thanks Didn't know it was possible to get into negative point balances.

 

[blueythecat]

Very unlikely Amex will waive the 18 month waiting period for you, but I guess it never hurts to ask!

With the recent changes to their systems they've tightened up the loop holes that allowed people to get the points despite holding existing Amex cards. As is pointed out above the DJ Amex is the exception to this rule.

Good luck with your decision OP!

 

[PDog]

Similar to others- my husband has kept both of his & I have supp cards for where the earn rate is good. But I cancelled mine and am sitting out the waiting period, 1 month down, 17 to go

 

[Dr Ralph]

I don't believe they will waive the 18 month waiting period.

Dont forget you can open the David Jones Amex card even if you have held another Amex within the last 18 months.

You'd need to read the terms of any new offering, but I would think the answer is likely to be yes.

 

[BLK343]

I was also tempted with the 100k velocity bonus points offer on the Velocity Platinum Card until I realised I had a Qantas American Express Discovery card which I haven't used in years. It was more for emergency than anything due to the no annual fee. Cancelled it this morning and the 18 months countdown has started.

Question I have though .. Regardless of me cancelling the Qantas Discovery Card and 18 months countdown, if I have an AMEX Corporate card, does this make me ineligible by default? It's AMEX issued and under my name!?!

 

[fairbasa]

I was also tempted with the 100k velocity bonus points offer on the Velocity Platinum Card until I realised I had a Qantas American Express Discovery card which I haven't used in years. It was more for emergency than anything due to the no annual fee. Cancelled it this morning and the 18 months countdown has started.

Question I have though .. Regardless of me cancelling the Qantas Discovery Card and 18 months countdown, if I have an AMEX Corporate card, does this make me ineligible by default? It's AMEX issued and under my name!?!

I asked this question about 12mths ago - answer I got over the phone was no, corporate charge card doesn't exclude you from personal card sign-up bonuses. I would recommend you get an answer for yourself and write down the details of the call or get something in writing.

 

[oh_lol]

They won't.
I spoke to them before when the Explorer first came out with 100k points if I would be eligible (had the Edge). They said yes.
Signed up, made the spend, didn't get the points. Called another two times and was told I did in fact qualify and to expect the points to come in 'soon'.
5 months later, nothing has come in, and have raised complaints with them, and have now lodged a complaint with the FOS.
Pretty much was told 3 times over the phone I could get it, just sign up, pay the fee and make the spend. That's what the complaint is about. To make false claims to get my business and then go back on their word.

 

[burmans]

I had the platinum edge for a number of years and wanted to move to the explorer. While Amex would allow this they said I wouldn't get the bonus. Bit the bullet, cancelled the card and started the 18 month timer. In the meantime got my partner, who had been a supplementary cardholder on my edge to open the explorer, and I am now a supplementary cardholder. Ensures we always have an Amex for the higher point earnings and can get the bonus points every 18 months.

This is the process I'm thinking of following, too.

 

[fairbasa]

This is the process I'm thinking of following, too.

Same here. I'll sit out the 18mths and the partner will continue to hold. Then we'll swap every 18months.

 

[Pele]

Gday

I know the systems had a big update in February but is there still a distinction between an Amex credit card and and Amex charge card? I have had and hold the credit card, but never had a charge so was hoping to still be able to snag bonus points with a charge card application. Anyone got recent (post Feb 2017) experience with this?

Pele.

 

[cynix]

Gday

I know the systems had a big update in February but is there still a distinction between an Amex credit card and and Amex charge card? I have had and hold the credit card, but never had a charge so was hoping to still be able to snag bonus points with a charge card application. Anyone got recent (post Feb 2017) experience with this?

Pele.

Seems someone still managed to get the welcome bonus: Eligibility for bonus points from American Express for existing cardholders

But given the official statement from AmEx, it's a bit risky to try.