American Express Amex cards

Discussion in 'Money Management & Banking' started by Truly Exotic, 9th Jan, 2019.

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  1. Truly Exotic

    Truly Exotic Well-Known Member

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    Anyone, got one or more of them.

    With the upcoming changes in April , its virtually killed off the value of the rewards program plus its exclusivity

    Anyone else devastated by the changes?
     
  2. Ben_j

    Ben_j Well-Known Member

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    There’s a few cards that are still pretty lucrative for points - the Westpac Black Qantas, has a big points sign up bonus and the additional mastercard is 0.75 qantas points/$1.

    Can maximise the Amex until the changes then continue to use the mastercard from there.
     
  3. larrylarry

    larrylarry Well-Known Member

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    Yeah we won’t be using Amex anymore.
     
  4. TSK

    TSK Well-Known Member

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    Dont have an Amex but what are the changes you speak of?
     
  5. Lizzie

    Lizzie Well-Known Member

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    Westpac dropped the Amex like a hot potato a few years back - so were on a black Mastercard instead. Pretty good rewards system and I end up with a couple of thou worth of Bunnings vouchers every year
     
  6. The Y-man

    The Y-man Moderator Staff Member

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    Points Earn rates and conversion rates (depending on the card) has been savaged.

    We have used the AMEX Velocity Escape card until now - and it is not a bad card (no fee, get Velocity points) but as of 1 April they will cut the points by 25% (from 1 Velocity Point per $1 spent to only 0.75).

    So we will fall back onto our MC and Visa cards once 1/4 rolls around as they will represent slightly better rewards rates.....

    The Y-man
     
  7. Truly Exotic

    Truly Exotic Well-Known Member

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  8. Truly Exotic

    Truly Exotic Well-Known Member

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    Yep, havent decided to cancel all mine yet, but i wont be spending a cent on it

    Rewards are the same, yet they charge more than visa/mastercard

    Certainly am not going to reward amexs bottomline with no competitive advantage when visa merchant fees are far lower
     
  9. The Y-man

    The Y-man Moderator Staff Member

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    What? I thought you had Centurion Card......

    The Y-man
     
  10. Truly Exotic

    Truly Exotic Well-Known Member

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    absolutely not :)

    I certainly would not pay the fee :p

    I seriously cannot see any value in the program except for "ego"
     
  11. JasonC

    JasonC Well-Known Member

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    Yes. CBA had a companion Amex card that had zero foreign exchange fees that I used a lot and it generated a lot of rewards points. Using the mastercard has a foreign exchange fee which makes it too expensive to use.

    They've now dropped the Amex card and the zero foreign exchange fee option is gone. Looks like the changes have resulted in a "poor customer outcome" for me.

    Regards,

    Jason
     
  12. Miss_D

    Miss_D Well-Known Member

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    I have the amex explorer, cost $400, but you get that amount back with travel e.g. accommodation or flights.

    Better half has Amex Plat card.. costs $1450.. BUT we USE the benefits!!!

    If you are going to use the benefits it is worth it.

    Points hack had a write up of this card - American Express Platinum Charge card - Point Hacks review

    we won't be giving these cards up even with the changes due to the benefits are outweighing the cost, and American Express is just easy to deal with if you call them!! So Easy compared to the banks!!

    I would honestly wait til the points are more if you were thinking about joining. Explorer i have seen at 100K and same with Plat card.