American Express - What's the point of it??

Mr_K

Only worth it to get the generous initial cashback. I've made over a hundred quid on this last xmas & not paid them a penny in interest. I'll be cancelling mine after they pay out (they'll probably be glad to see the back of me !).
One thing though, is the min £3000 spend a new requirement for cashback ? Can't remember this condition when i took it out last November. Think my spend will be v.close to that and i don't want them wriggling out of paying via the small print.....

Bob_the_Saver

If you've got to ask, it's not for you.

Mr_K

Bob_the_Saver wrote: »

If you've got to ask, it's not for you.

Interpreted, that means its mostly for snobs plus those like me who like money for nothing.

property.advert

I first had a gold Amex and then a gold Amex for Business Travellers which was when Platinum was invitation only. It was in the days of the theoretical "no limit" card. That cost £185 a year but as there was no internet and travel insurance was costly, the benefits were very great and the rewards top class.

After some time, they invited me to Platinum at around £285 a year. Upgraded benefits and offers. I mean, you used to get offers and freebies which were actually worth a lot and though many were centred on London, that is where I lived.

Shortly after I joined Platinum they introduced Centurion. I was elevated to Centurion which was £600 or so a year but the first year fee was waived. There was a great concierge, freephone travel booking 24 hours a day etc. You could get tables at full up restaurants which I know as I used that service. Free travel money etc. and loads of invitations to this and that. A big perk was free airport lounge access whatever class of ticket you had and also free membership to Priority Pass.

At first renewal, I renewed, at £650 or so. That year, it became clear that some of the benefits we loved and used were being withdrawn and some of the more publicised benefits were of no interest. The internet had arrived and just like the internet killed Wexas, the membership travel club, the internet meant cheap this and that you didn't have to pay £600 a year for the privilege.

In fact, in the last year, I requested a green card.It was a Centurion card but looked like the bog standard Amex card. Centurion was too ostentatious, too in your face and it had changed. Or perhaps I had. Probably both. I went back to Platinum and then chucked the idea. Managed to get some free flights from the points but some years I was putting £30-50,000 or so on the card.

I think the concept is great, if it fits in with your life and you can benefit from it.

Bob_the_Saver

Mr_K wrote: »

Interpreted, that means its mostly for snobs plus those like me who like money for nothing.

"Like me who like money for nothing"

Err Yes, I would like money for nothing please (no strings attached) but I must point out I'm a Yorkshireman by birth, that's like a Scot without the generous nature.
:beer:

chattychappy

Bob_the_Saver wrote: »

Hands up those people on these forums who would have one if they could get one!

Well... I could get one (the chargecard) and had one for a few years.

I had it for the travel insurance which I could extend to colleagues. Also for the "Priority Pass" airport lounge scheme and the generous "membership rewards" scheme (airmiles).

But over time the proportion of foreign spend went up - so I switched to Nationwide. For a while I had the Amex chargecard but never actually used it for spending. Then they started to mess around with the reward scheme and the insurance. As I was flying alot I got into airlines' own lounges through being a frequent flyer or being in business class. So the "Priority Pass" became less valuable. Eventually I cancelled it.

IMHO, Amex doesn't impress anyone anymore - though it probably used to. They are too easy to get, and people who really are something in life find other ways to show off. All the "superior service" stuff is a nonsense too. You still contend with subcontracted services and automated phone systems.

If you're interested in Amex chargecards, just buy them on the tangible benefits they offer. Not the "grey" stuff...