We're upgrading your Gold credit card to Platinum!

[JohnK]

The Amex Gold card is being discontinued from 12 June 2012 and replaced with an Amex Platinum Rewards credit card.

I have had the Gold card for over 10 years and it is fee free for life and I pay just $80/year for MR Ascent.

The Platinum card is $80/year and comes with complimentary MR Ascent membership and apparently transfers to 8 FF programs. This does not appear to be any existing Amex Platinum product.

The earn rates are changing

- Supermarkets and petrol = 2 points/$1
- Everywhere else excluding below = 1 point/$1
- Utilities, insurance and government bodies 0.5 points/$1

This last point has me concerned. This is a serious devaluation. Not sure I am a fan of being charged a fee for the use card either. Yes I know it is the same as MR Ascent membership for now but no guarantee it will stay this way for very long.

What game are Amex playing? Anyone have any thoughts on this new Platinum Rewards credit card? Would it be best to go for one of the other Platinum cards with free flight?

 

[cove]

John that is an interesting and not so nice development.
Is your current Gold card from a professional association group? I had one of those from the early seventies.
Ultimate is on promo at $250 with enrolment points and a free flight but mine is only to QF so yes have a look at the Amex site to pick a card that suits your needs then negotiate the deal with Amex.

 

[awilcockson]

Amex were already behind the eight ball (surchages, merchants that won't accept the card), now they seem to be wanting to take themselves out of the market completely (ripping the guts out of the platinum charge card insurance, devaluing points earn).

 

[JohnK]

Is your current Gold card from a professional association group? I had one of those from the early seventies.

No. It is a fee free Gold credit card as long as I spend $9,000 on card a year.

 

[k3nnis]

Does this mean plat egde earn rates will be devalued as well? At the moment on EDGE it is 3points/$1 for supermarket, 2points/$1 for petrol and 1point/$1 for everything else....

 

[hummel]

Does this mean plat egde earn rates will be devalued as well? At the moment on EDGE it is 3points/$1 for supermarket, 2points/$1 for petrol and 1point/$1 for everything else....

I sure hope not, card will be going through the shredder if that's the case!

 

[Stephen65]

- Utilities, insurance and government bodies 0.5 points/$1

This is a serious concern. If Amex try to do this generally across their cards then they will become valueless for paying my friends at the ATO.

 

[k3nnis]

If this is the case maybe Diners Club will be alive and well!

 

[markis10]

If this is the case maybe Diners Club will be alive and well!

if you can stand the though of dealing with Citibank!

 

[k3nnis]

hahah never dealt with citi before...Sounds like won't be fun!

if you can stand the though of dealing with Citibank!

 

[oz_mark]

if you can stand the though of dealing with Citibank!

Diners, while colocated, does seem to operate as a separate entity within Citibank.

 

[drron]

Diners, while colocated, does seem to operate as a separate entity within Citibank.

But in my experience second their worst staff to the DC section.Citibank plat was a breeze to sort out problems compared to Diners.

 

[markis10]

Diners, while colocated, does seem to operate as a separate entity within Citibank.

Still a wholly owned division of Citi though, and lets face it, hardly a shining example of customer service in their own right even before Citi took over the local franchise with ANs demise.

 

[dane]

Reduced Amex MR rates for more cards

- Supermarkets and petrol = 2 points/$1
- Everywhere else excluding below = 1 point/$1
- Utilities, insurance and government bodies 0.5 points/$1

This last point has me concerned. This is a serious devaluation...

It looks like Amex are going further. They've added the following to the Green and Gold charge card pages, explicitly adding telcos to the list of half pointers...

As of the 1 July 2012, you will earn, 1 Membership Rewards point for every $1 you spend on all purchases, excluding utilities, insurance ( excluding insurances offered by American Express), telecommunications providers and government bodies in Australia where you will earn 0.5 points for every $1 spent.

...and the Edge CC isn't immune...

As of the 1 July 2012, your points earn rate will change to; 3 points at major supermarkets in Australia, 2 points at major petrol stations in Australia, 1 point everywhere else, excluding utilities, insurance ( excluding insurance offered by American Express), telecommunication providers and government bodies in Australia where you will earn 0.5 points

Couldn't see any mention of half points on the Reserve CC, Platinum charge nor business charge pages.

 

[k3nnis]

Re: Reduced Amex MR rates for more cards

I might still stay with the edge instead of the reserve as my main spend is with the supermarkets and petrol. I do pay council rates and telstra on amex but I think supermarkets outweigh them. Unless someone can convince me the reserve is better.

 

[Mal]

Re: Reduced Amex MR rates for more cards

I have a totally fee free one that I have had for quite a while. Interesting development indeed. It also amazes me that they think they can take the card away, but not move the "fee free" status to another card...

As I already have a Platinum Reserve, I wonder what my letter(?) will suggest...

 

[k3nnis]

Re: Reduced Amex MR rates for more cards

And what exactly defines government bodies in Australia??? sydney water? AGL? Council? Ausgrid? Medibank ?

 

[rowdy]

Re: Reduced Amex MR rates for more cards

And what exactly defines government bodies in Australia??? sydney water? AGL? Council? Ausgrid? Medibank ?

I think you will find;
Sydney Water, AGL, Ausgrid are 'utilities' = 0.5pt
Medibank = 'insurance' = 0.5pt
Council = 'government bodies' = 0.5pt

 

[k3nnis]

Re: Reduced Amex MR rates for more cards

ok thanks. Maybe I will use my westpac altitude gold amex for the utilities then

I think you will find;
Sydney Water, AGL, Ausgrid are 'utilities' = 0.5pt
Medibank = 'insurance' = 0.5pt
Council = 'government bodies' = 0.5pt

 

[mick]

The Amex Gold card is being discontinued from 12 June 2012 and replaced with an Amex Platinum Rewards credit card.

I have had the Gold card for over 10 years and it is fee free for life and I pay just $80/year for MR Ascent.

The Platinum card is $80/year and comes with complimentary MR Ascent membership and apparently transfers to 8 FF programs. This does not appear to be any existing Amex Platinum product.

I got a very similar letter a few days ago. Like you, I've had the Gold Credit Card fee-free for life for about 10 years but I've never paid a separate fee for MR because all my Amex cards were linked into the same program. The letter reads on with:

And you can take advantage of a $0 annual fee on your Platinum Rewards Credit Card (usually $80 p.a.) as long as you hold your American Express Charge Card.

I have both Gold and Platinum Charge cards but it doesn't specify which Charge card it relates to.

I probably won't use the card unless I can link it to my MR Ascent Premium, in which case I'll use it at supermarkets and petrol stations.