Amex cashback scam!!

td_007

97trophy wrote: »

Wow, I am really amazed at what some people call a scam.

You fail to understand that it was a random example with just 5 transactions. For average number of transactions per customer (I would have about 25 per month) multiplied by the total number of customers the value would be significant and you might change your mind:rolleyes:

_Andy_

How is a company operating a reward scheme in accordance with the terms and conditions you agreed to a 'scam' exactly?

td_007

billion25 wrote: »

Tesco does the same thing for its clubcard -- you only gets points for each full £ in spend. Seems pretty standard in the industry.

Very true but Tesco first it adds up all the transactions and calculates the points i.e if you have two spend of £1.99 and £1.99 you will get 3 points (on £3.98) and not 2 points if you consider each transaction gained you 1 point each.

td_007

A number of comments say that Amex are operating within their T&C and hence it makes it right for them to calculate the cashback the way they do.However, they do not call out that the cashback is calculated per transaction and in my experience with every other cashback credit card that I have had (the most recent is the Citi Shell CC which withnell has pointed) the cashback is calculated on the total amount. It is the same for other reward cards such as Tesco and Nectar. This is therefore very much underhanded sneaky way to skim money off the customers by Amex - what would one call this?

97trophy

td_007 wrote: »

For average number of transactions per customer (I would have about 25 per month) multiplied by the total number of customers the value would be significant and you might change your mind:rolleyes:

Actually no.

I am very happy with the deal from Amex.

td_007

No wonder Amex get away with what they are doing. By appearing to give something for nothing (which is indeed not the case) Amex have lulled people into not asking if they are really getting what they should!

_Andy_

What other companis do isn't relevant - by the same logic every company should provide every service identically.
There is still no scam - what on earth is underhand about it given it's in the T&Cs? If you didn't bother to read them when you took the product you can't moan now you don't like it.

td_007

This is what is mentioned about cashback (called rebate) in T&C:
17.1 An annual rebate on the aggregate amount of all Transactions (other than Cash Withdrawals) will be payable to you by us at the following tiers and rates:
17.1.1 0.5% for aggregate amounts up to £3,500 and
17.1.2 1.0% for aggregate amounts from £3,501 to £10,000 and
17.1.3 1.5% for aggregate amounts in excess of £10,001

My read of above is that "aggregate amount" is the same as "total amount" i.e. cashback is to be calculated on the total amount spent. Nothing in the T&C even faintly implies that cashback will be calculated on individual transactions.

billion25

td_007 wrote: »

Very true but Tesco first it adds up all the transactions and calculates the points i.e if you have two spend of £1.99 and £1.99 you will get 3 points (on £3.98) and not 2 points if you consider each transaction gained you 1 point each.

Not sure what you mean. If you go to Tescos and spend 35.99, you get 35 points for that transaction -- end of story.

billion25

Am I right in thinking that people here are describing as a 'scam' the fact that might get 1 p less per transaction than they thought? Well perhaps they should go get a card that pays a whopping 0.5% instead then.