Just received a letter from Amex. They are changing the earn rate from 2pts ( supermarkets/fuel ) and 1 pt elsewhere to 1.25 pts across the board ( except Govt bodies ). I regard this as a reduction in value as many merchants charge a 3% credit card fee for Amex , whereas supermarkets/fuel don’t charge additional fees. Amex are sneakily placing the onus on the customer ( card holder ) to foot the bill. This change will come into force on June 1st. I will keep my card until then but will cancel prior to June 1st as I am earning a lot of points from supermarket/fuel spend.
Holy crap! I have the same card, and have not received this letter yet. But if this is the case, I will be doing away with this card - once it comes into effect, and once i’ve maximised my ‘Local Hero’ points.
What a shame. I thought this card was a decent one. On the plus side I will be able to begin the 18 month waiting period before I can sign up to a new amex issued card and receive the bonus points.
I just hope ANZ waive next years annual fee on my Black card…
Yes , very disappointing Andrew. It came in the mail today so you might have a nasty surprise when you get home. I am going to transfer to the DJ card @ 2.25 pts for supermarkets / fuel outlets it is a good deal , perhaps Keith would agree. In any case, supermarket/fuel accounts for a lot of my regular spend and these don’t attract merchant/extra fees.
I just wanted to add another point to anyone who may be reading this particular thread:
I just rang up Amex to express my disappointment about the upcoming changes. I was able to transfer my (Premium) card to the Platinum Edge free of charge - and more importantly without any impact on my credit report.
As an added bonus - I was also credited roughly $190 from my annual fee on the Premium, which will almost 100% cover the annual fee charge on the Platnium Edge.
I will also be elidegable for the $200 Amex travel credit provided with the new Platium Edge card. Not to forget mention I have also received the 2 free Qantas club invites already too!
My outstanding QFF points earned during this current statement period (roughly 3000) will be transferred to the Amex MR program instead - which is ideal for me as I have been wanting to focus on the Asia Miles reward program.
Was also able to switch to the DJ card (without any impact on my credit history) if I wished, although the transfer rate on the Platnium Edge (to Asia Miles) is significantly better compared to the DJ card.
The only negative out of all of this, is that I will lose my ‘Local Champion’ status’ that I have gained. But that is easily fixed.
Just thought I’d let everyone else know in case they were looking to switch.