American Express Discussion Area

efunc

BrunoM wrote: »

It's because Paypal wouldn't take AMEX for anything bar dollars, so the user was being hit with the currency interchange fee each time.

AMEX didn't want this and had a tussle with them over it, and now to make sure no-one goes out of pocket you get a small credit each time from AMEX which in theory should slightly more than cover the interchange costs, while they try to sort out things to work more normally going forwards with Paypal.

So nowadays there should be no loss for using AMEX through Paypal, but for a bit there was, due to some quirk at Paypal.

Edit: and for the later poster, yes, non-Paypal sterling transactions will appear perfectly normally like with any credit card. Dollar Paypal (or any other supplier) transactions will go through an interchange if you're using a UK-issued card, again this is true regardless of which cc company you are using, but the exact conversion rate used varies from company to company, day by day, and I don't know whether Amex is usually much different from the others (I expect not).

bruno, that's very enlightening, thanks. when I added my new amex card to my PayPal account I was greeted by this:

"PayPal submits American Express transactions in USD, regardless of the currency of your transaction. If your payment or your card is not denominated in USD, we each apply currency conversion commission to the transaction. American Express will credit your American Express statement in an amount estimated to be at least equal to the fees applied to the transaction. We apologize for any inconvenience as we implement a new process to address this issue."

However, I've just been told that amex have revoked this arrangement and no longer reimburse the charge. Does anyone know if this is correct or have a link to a statement from amex regarding this? thanks.

presh_2

Kavanne wrote: »

Er when I tried to put my Amex into a positive balance using the online system, it won't let me. Did you do it through your bank or through the Amex website?

Apparently the money was credited to the amex account via the current account directly from the bank website. Update- amex has recredited my nectar account and stopped any interest i will be charged for their mistake. Hopefully there will be no black mark on credit file. I shall get it checked anyway in a month.

chartreuse_2

efunc wrote: »

However, I've just been told that amex have revoked this arrangement and no longer reimburse the charge. Does anyone know if this is correct or have a link to a statement from amex regarding this? thanks.

I can tell you that it was not correct yesterday. I'll have a look next week (when today's purchase shows up) and confirm. But I suspect that you've been misinformed. Who told you this?

jpwjpw

i used my amex on Paypal and got some kind of refund as shown below:

19 August PAYPAL *EBAY INT AG **** 31.90 USD £17.56 (Debit)
19 August PAYPAL/AMEX CNVRSN CRED SAN JOSE 1.91 USD £1.05 (Credit)

StrawberryJam_2

lisyloo wrote: »

If you spent £1010 in the first 3 months and you are on the 5% deal then that equals £50.50.
It's 1010 * 0.05 which is fairly easy.

I know that £1010 * 0.05 equates to £50.50, but in no where can I see that I have £50.50. In actual fact it reads £2020. You have forgot to give me an answer on £2020 = £X cashback (I guess £50.50)

The only figure that is presented is £2020 moneyback eligible spend so how does the £2020 = £50.50 real money? If someone could explain the relationship between moneyback eligible spend and actual money, would help.

ghdweb

Hi all, can anyone confirm if American Express Platinum Cashback card is covered under Section 75, and therefore a good choice to use for online purchases?

Many Thanks..

System

ghdweb wrote: »

Hi all, can anyone confirm if American Express Platinum Cashback card is covered under Section 75, and therefore a good choice to use for online purchases?

Many Thanks..

It is a credit card, so the answer is yes, providing that your online retailers take Amex of course!

Regards
UNDERGROUND

chartreuse_2

StrawberryJam wrote: »

I know that £1010 * 0.05 equates to £50.50, but in no where can I see that I have £50.50. In actual fact it reads £2020. You have forgot to give me an answer on £2020 = £X cashback (I guess £50.50)

The only figure that is presented is £2020 moneyback eligible spend so how does the £2020 = £50.50 real money? If someone could explain the relationship between moneyback eligible spend and actual money, would help.

This question seems to have been running for some time, but none of us have a definitive answer.

Has anybody actually received their cashback, with 5% introductory rate yet? If so, their figures might shed some light.

I'm afraid I didn't open mine until last November, so we'll have a couple of months to wait before I can help.

jonmimir

Hi all
I just spent a while chatting to a very helpful Amex call centre person. They told me a few things I thought might be of interest. First, Amex are about to revamp the way they report the 'eligible spend' and what level of cashback you are currently getting (great, because I was calling because I was confused).

He also told me that there's no reason when your 5% cashback 3 months ends that you can't apply for a SECOND amex platinum cashback card and have another 3 months at 5%. Of course this will make it harder to reach the 1.5% cashback level with your first card (after £10K spending).

Apparently the only amex you can't have more than one of is the BA Airmiles one.

So now I'm seriously thinking of getting a second Amex platinum in a few months before I buy my new iMac :-) If I do and they accept me I'll let you know.

Cheers!
Jon

M_Thomson

If that was an Indian call centre that told you that, I would take it with a pinch of salt. Credit card companies can sometimes let you have a second card if it is a different type of card they issue eg Virgin and MBNA but they generally will not let you have 2 of the same type of card.