Existing AmEx Platinum (credit card) customers

eagle

I had an interesting conversation today with American Express so I thought I'd write here with the interesting discoveries I've made!!

In a nutshell, I am a current AmEx Platinum credit card customer and following the recent non-announcement (well, I only heard about it from this board, AmExx have sent me nothing through the post to date) of the variation of terms and loss of the 2% cashback rate, I am seeking an alternative cashback reward or points reward card.

So, here goes. My list of interesting AmEx facts that you may not currently know:

- You may not be able to apply for a Blue card soon (you certainly can't online! they ask you to phone them to apply). This is because they are reviewing the Blue card and may soon withdraw it altogether.

- If you go for a BA (British Airways) card and want to keep it in conjunction with a Platinum/Blue card, you must have had the other card for a minimum of six months in order to qualify for the reduced annual fee.

- The reduced annual fee for a BA Premium Plus card is first year free, then £30/annum.

- There is nothing stopping you from getting a BA card, now that you still have a Platinum. Then if you get a Blue card on top of that and you then cancel the Platinum, that is permitted. No idea what effect this may hvae on your credit rating though.

Hope this post is useful to at least someone. Would welcome peoples' opinions/thoughts on this.

omega27

Are they going to reduce the rate for existing customers? My statement which came the other day still has the 'old' rates & they only just sent me variations to T&Cs to reduce the non-payment fines to £8. You'd think they would have changed the cashback rates at the same time?

eagle

The best cashback card article has been updated to reflect that the card is changing from October 2006. Also, they confirmed this on the phone with me today.

sloughflint

How would this affect your cashback payment if it is due in Jan 07? would they calculate it at their new rate as it's post Oct 06? As far as I can see from the statement, it just says eligible spend each month with no calculation for cashback each month.

eagle

sloughflint wrote:

How would this affect your cashback payment if it is due in Jan 07? would they calculate it at their new rate as it's post Oct 06? As far as I can see from the statement, it just says eligible spend each month with no calculation for cashback each month.

Who knows? Maybe we'll know more when they notify us all by changing our T&Cs, however my personal opinion is what you say: from October they'll just give us the new rate, making it a sour deal compared to before.

I've just had my payment in June, so this makes it rather tempting to just switch cards. I won't hit the £10k limit to start earning 1.5% so it just makes it less attractive.

eagle

rjlawson wrote:

My statement which came the other day still has the 'old' rates & they only just sent me variations to T&Cs to reduce the non-payment fines to £8. You'd think they would have changed the cashback rates at the same time?

I think this is a direct result of the reduced fees for non-payment fines. It was bound to happen, I suppose I wasn't expecting AmEx to be first to reduce their cashback rates so soon and suddenly!

JohalaReewi

Just had a look at Martin's article. Not only is top level cashback coming down to 1.5%, it doesn't kick in until you spend £10,000 (up from £7,500). Good job my card anniversary is October. Time to stop using Amex.

eagle

eagle wrote:

I had an interesting conversation today with American Express so I thought I'd write here with the interesting discoveries I've made!!

- You may not be able to apply for a Blue card soon (you certainly can't online! they ask you to phone them to apply). This is because they are reviewing the Blue card and may soon withdraw it altogether.

A bit stupid replying to my own post here, but...

Could someone (Martin perhaps??) try and get the official line from AmEx on what is happening with the Blue card? Getting the official line is not usually calling customer services or new applications dept. as they give you a different answer each time (if anything).

Anyone?