We're upgrading your Gold credit card to Platinum!

[Airbumps]

Re: Reduced Amex MR rates for more cards

This site here is brand new as far as I'm aware (and a little over the top with its fruit ninja type credit card slicing game) and it clearly states the 3x2x1 earning rates.

"1 Point for all other purchases"

American Express®

I really really hope they don't change it, that will be the end of the card for me....

 

[Moopere]

Re: Reduced Amex MR rates for more cards

This site here is brand new as far as I'm aware (and a little over the top with its fruit ninja type credit card slicing game) and it clearly states the 3x2x1 earning rates.

"1 Point for all other purchases"

American Express®


I really really hope they don't change it, that will be the end of the card for me....

Heres the blurb:

Earn 3x points at major supermarkets, 2x points at major petrol stations, 1x point everywhere else excluding utilities, insurance ( excluding insurances offered by American Express ) and government bodies in Australia, where you will earn 0.5x points.

So, the T&C of the edge are changing. I've not received a letter yet. Presumably I'll get one with my next statement.

Look like I'll have to sign up to a new card for utilities/tax. I'll keep this one for the remaining 2:1 benefit, but someone else will get the excluded cashflow ... I'm guessing Amex doesn't want this sort of cash and/or are being screwed by the large businesses/agencies involved over margin.

 

[Dr Bob]

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

[/QUOTE].


Would be the Platinum Charge as this would be the main card & have the MR Ascent Premium to which the new platinum credit card would be linked

 

[Mal]

Still no notification here...

 

[Moopere]

This news sent me into a bit of a panic. Will continue to watch with interest, but Green, Gold and Plat charge cards have not had their T&C changed on their respective websites yet ... I might grab a green or gold charge, just for the current stuff about to be downgraded on the Plat Edge and other CC's

 

[k3nnis]

Re: Reduced Amex MR rates for more cards

Does this 0.5 apply for the platinum reserve as well?

Heres the blurb:

Earn 3x points at major supermarkets, 2x points at major petrol stations, 1x point everywhere else excluding utilities, insurance ( excluding insurances offered by American Express ) and government bodies in Australia, where you will earn 0.5x points.

So, the T&C of the edge are changing. I've not received a letter yet. Presumably I'll get one with my next statement.

Look like I'll have to sign up to a new card for utilities/tax. I'll keep this one for the remaining 2:1 benefit, but someone else will get the excluded cashflow ... I'm guessing Amex doesn't want this sort of cash and/or are being screwed by the large businesses/agencies involved over margin.

 

[Moopere]

Re: Reduced Amex MR rates for more cards

I'd wait a week or so to tell. The changes are obviously new and the Amex Australia website is rife with inconsistency at this time. Some advertising the cards with the exculsion "utilities, insurance ( excluding insurances offered by American Express ) and government bodies in Australia, where you will earn 0.5x points." whilst on the main pages the same cards are shown without this exclusion.

My guess is that it will all firm up in a few days - then we'll see which cards we need to dump, which to keep and which to apply for.

 

[dane]

Re: Reduced Amex MR rates for more cards

Clearer T&Cs appearing for the Edge on the website...

Subject to the Terms and Conditions of the Membership Rewards program available here. Participating retailers include the following merchants who have been classified as "Major supermarkets" are Bi-Lo, Flemings, Safeway, Woolworths, Coles, IGA, Franklins, Fishers, Fresh Provisions, Food For Less, Supabarn, Macro Wholefoods. "Major petrol stations" are BP, Shell, Caltex Woolworths, 7 Eleven, Woolworths Petrol, Safeway petrol, Peak & Gull. Applies to transactions in Australia only. You will earn 0.5 points for every dollar you spend in Australia at merchants classified as: "utilities" which are gas, water and electricity providers; "insurance" ( excluding insurances offered by American Express ); "telecommunications providers" which includes goods and services purchased from phone, mobile and internet service providers; "government bodies" including the Australian Taxation Office, Australia Post, federal/state and local government bodies.

 

[DrAndyC]

Re: Reduced Amex MR rates for more cards

Slippery slope...Let's hope the ato doesnt change for the ultimate or platinum charge

 

[JohnK]

Re: Reduced Amex MR rates for more cards

It would appear that Amex has been very hard by previous bonus point promotions and are looking at ways to recover!

 

[Moopere]

Re: Reduced Amex MR rates for more cards

Mmm. A lot of the Amex FF partners have had their transfer rates increased recently... the thought occurs that this is paying for some of that.

Its more of a PITA for me than anything else. The Plat Edge and similar cards are still good MR earners, but now I have to remember to use a VISA or whatever to pay the excluded items (woolies MC comes to mind at 1:1).

 

[wafliron]

- 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 interesting / concerning :-/

As another data point, whilst recently researching the Platinum charge card I was told by two separate Amex CS people (who didn't seem very knowledgable overall, I might add) that ATO payments would only earn 0.5 MR points per $1 spent. I queried this the second time I was told it and the lady went off to speak to someone else. After coming back she said she was wrong originally and ATO payments would earn the full 1.5 MR points per $1 spent, but didn't clarify where the confusion came from.

Also, I can confirm that an ATO tax payment made yesterday on my new Plat charge card did still earn 1.5 MR points per $1 spent.

Watching this closely, if they change the earn rate on the Plat charge card it's going straight in the bin. Would prefer they didn't, but at least if a redution does happen I should be entitled to an annual fee refund and would have pockered a "free" 80k MR points (signup bonus).

 

[auriga]

I don't like where this is going!

 

[AdMEL]

I have a Plat Edge card and whilst the reduction in earning rates for utilities, gov and insurers is disappointing/annoying, it doesn't really affect me greatly, because most of those bodies I pay don't accept Amex anyway!

 

[Moopere]

I have a Plat Edge card and whilst the reduction in earning rates for utilities, gov and insurers is disappointing/annoying, it doesn't really affect me greatly, because most of those bodies I pay don't accept Amex anyway!

The ATO does, my telco does too, as does my water, gas and power.

Its all pretty strange. You can only assume they are not making money, or conditions are about to change whereby they won't make any money with these specific service payments ... I can't fathom that Amex would be intentionally trying to shrink their market share.

Anyway, thankfully there are 1:1 earners in Visa/MC land that will keep the points coming, but its a real shame and quite a big PITA for me.

 

[Stephen65]

We know the ATO is charged a 1.25% fee by Amex. I would have thought that this was basically free money for Amex given the non-existent risk of fraud on ATO payments and the non-applicability of the card insurance. Why they would want to discourage people using an Amex card to pay the ATO is beyond me. However Amex have been doing a lot of things recently that seem designed to reduce their customer base so maybe this is part of that plan.

 

[greenfrog86]

Re: Reduced Amex MR rates for more cards

Mmm. A lot of the Amex FF partners have had their transfer rates increased recently... the thought occurs that this is paying for some of that.

Its more of a PITA for me than anything else. The Plat Edge and similar cards are still good MR earners, but now I have to remember to use a VISA or whatever to pay the excluded items (woolies MC comes to mind at 1:1).

Whilst some of the transfer rates of MR points to FF programs has increased, most of the bonus points partners seem to have disappeared or been reduced in 2012 which is pretty annoying...

Not that many cards in Aus have decent bonus points partners - unlike most of Asia where you can get decent benefits from Citi or Amex and in the US where Amex card holders have a multitude of bonus point partners in almost every industry and giving a decent earn rate...

 

[cove]

Re: Reduced Amex MR rates for more cards

Providing points at a net 0.833 cents each for the ATO for Qantas may be below AMEX cost per point from Qantas. I would not be surprised if the cost was about 1 cent plus GST of about 0.05 cents and maybe a little higher.

 

[Plutonus]

Re: Reduced Amex MR rates for more cards

I called card services today and they said the .5 pts per $1 will apply to all cards even though it's not on the website yet.

 

[cove]

Re: Reduced Amex MR rates for more cards

My account manager said "no changes for Ultimate" this month so no need to panic just yet!!!