American Express - Blue card to Platimum Cashback Card "upgrade"

robocop79

Hi all,

Today I received a letter from Amex telling me that they are changing my account from the Amex Blue card (which I've had since 2003) to the Platinum Cashback Card.

From reading the letter enclosed it appears I will have the opportunity to earn a higher rate of cashback (on spends over £7500 pa).

However, my questions are:

1. Are they phasing out the Blue card now, hence the change? (I note the Blue card is no longer available on their website to new customers).

2. Has anyone else had this letter?

It will be a shame as I quite liked the transparant credit card that comes with the Blue account! (Not my reason for choosing the card)

Just a shame that Amex isn't more widely accepted. In fact, a lot of the places I shop seem to have stopped taking Amex now which is a pain.

Thanks

Stephen

Typhoon2000

I haven't received that letter. I have had the Blue card since 2001 and the Platinium for nearly a year. First thing I did was move all but £700 of my Blue Credit limit onto the platinum, but I still have both cards. I find it is only a small minority of places I spend that dont take Amex. Even my Paypal account is funded via the Platinum so I effectively claw back some of the Paypal fees that way.

robocop79

Typhoon2000 wrote: »

I haven't received that letter. I have had the Blue card since 2001 and the Platinium for nearly a year. First thing I did was move all but £700 of my Blue Credit limit onto the platinum, but I still have both cards. I find it is only a small minority of places I spend that dont take Amex. Even my Paypal account is funded via the Platinum so I effectively claw back some of the Paypal fees that way.

Interesting. Why did you go for a Platinum card when you already had a Blue card?

Yes I agree it's only a minority of retailers who don't take Amex (and I can't say I blame them tbh), however two places I visit frequently have stopped taking this card

Typhoon2000

Because of the 5% cashback in the first year (first £2000). After that it does offer better cash back than the Blue but only once you have spend £7500.

p00hsticks

Typhoon2000 wrote: »

Because of the 5% cashback in the first year (first £2000).

It's only for the first three months now....

CBA_Caption

I've had the letter. I'm a current Blue used (I like the transparency too!).

What my letter doesn't say is the APR the new card will be set at. It talks about the only change t my T&Cs being the 1.25% cashback bit, but I see on their website that the APR is 19.9%. I was 7.8% until very recently, when it was raised to 14.9%.

Obviously, that's not an issue because I pay it off every month like Martin says I have too! However, the principle remains that this might not be much of an upgrade.

Also, there is no mention of the introductory offer of 5% being made available to 'upgraders'.

I'm about to speak to customer services (who are usually very good) to see what they say.

I'll let you know.

Typhoon2000

I got the letter today too. Looks like I will end up with 2 platinum cards. Time to shut it down once I get the cashback credited in June (unless they are giving 5% again for 3 months on the replacement card).

chazzee

Strange. I got a letter saying my Blue card APR is going up from 19.9 to 24.9 - I guess I'm perceived as a higher risk!

CBA_Caption

Update:

Spoke to CS and they told me that the Blue card is being discontinued and that my APR will remain as per the original contract. I assume this will be the same for everyone.

Pressed-to-test on getting the introductory rate, but no dice!

CBA

tomreid10

Is it clear that if you are "upgraded" you get the same deal as a new card holder. i.e. "Platinum Moneyback card pays new cardholders an unbeatable 5% cashback for the first three months (£5 for every £100 spent) up to a maximum £100 cashback earned." Or is it better to apply now before they send me a new Platinum card to replace my blue card?

Has anyone tried this? if you were an existing Blue card holder did they treat you like you were a new card holder?

cheers