Happy

Oh you are right I totally forgot the Chairman card - that is so ANCIENT. LOL.

Yup, that is exactly how the history is played out.

CSR would be just like that. It has a totally misplaced marketing focus. In fact it does not even now which market segment the card is for, in order to bring in the profit the bank is hoping. Interest from carrying balances? Seriously, from people who sign up a $450 AF card for the bonus and benefits? The cross-selling of products like mortgage - that only works when its interest rate is competitive...

And the CPC... my friend's Chase banker actually being honest and told my friend the CPC is not a good fit with my friend's long established relationship with Morgan Stanley (longer term portfolio) and Ameritrade (active trader). He does keep close to $100K cash in the business accounts at Chase but really does not want to add Chase in the mix on the investment side.

Even funnier is, his Plat was up for renewal, the retention offers were very crummy (5K at first call, and then 10K when he called to cancel). He then talked to Morgan Stanley which agreed to reimburse the $550 fee on a Morgan Stanley AMEX that was instantly approved. He immediately called AMEX to cancel the existing Plat. The AMEX rep was trying to list out the benefits etc and then the offer was up to 10K - too little too late.

The banks Algorithm to determine offers often is very strange.

747FC

AMEX is to Boeing
as
Chase is to Airbus

dhuey

They should check with the PR dept before filing suit.

steve4

Does the 8-12 weeks posting time only apply to bonuses or all Membership Rewards activity (earned from spending) ?

I think a better solution for AMEX to cut down on churning is to make all related cards (ex: Platinum) be considered as one product instead of separate products. In this way, individuals who received a bonus from the regular Platinum card would not be eligible for a bonus from the Schwab/MB/Morgan Stanley cards.

Costanza1

I've taken AMEX to the cleaners over the past 3 years. I even transferred out a big mistake on their part. Got a free SQ Suite for it, thanks AMEX!

Just transfer out MR before they can freeze. Delete your AMEX ID and create a new one when you sign up for a new card. They aren't smart enough to figure it out.

Ha! In their dreams. If I get one of those letters, goes right in the trash. If anyone should have received one of those letters, it's me and I still haven't.

Sounds like a great way for a struggling business to right the ship; become even more irrelevant.

nufnuf77

Without trying to quibble, I think you meant 0.5 cents (or 0.005 dollars per point)
http://verizonmath.blogspot.sk/2006/...rom-cents.html

mikesyr18

Half a cent per point, yes.

The points have no cash value unless you redeem them that way. If AMEX asks me to buy points to get back to a "0" balance from a negative balance, I would just laugh at them.

BOSTravels

It's called "Fly Now, Pay Later". https://thepointsguy.com/2017/06/fly...er-amex-delta/

Costanza1

Agreed.

ajc1970

I own a franchise and pay annual royalties to the corporate entity of roughly $60K/year. To pay it, I'm required to buy their gift card, but I can (and do) use a credit card. Guess I'll use my Chase biz cards instead of my Amex biz cards for that.

mikesyr18

You missed the entire point.

We're talking about all American Express cards.

If we get our bonus points/cash/miles, and then AMEX decides to pull the points back after we've already used or transferred them, we don't owe them squat in order to get the balance back to "0." It has nothing to do with borrowing rewards.

AlohaDaveKennedy

Lemme see - folks who otherwise pay contractors and day laborers in cash, businesses with rewards or incentive programs and the list goes on. $500 gift cards are far easier to handle than stacks of twenties. But for money launderers, Home Buckets full of cash are far easier to transport and, unlike gift cards, can be used outside the US or for paying off local government officials. These Homer Buckets, commonly found in Miami attics, can also be broken down into empty paint cans full of cash, which is an official unit of tender in San Antonio. All y'all just gotta love a town with the best 144th District Judges money can buy.

http://www.mysanantonio.com/news/loc...ge-5323573.php

I believe gaming LIBOR rates, illegally foreclosing on property, laundering money in Mexico, stealing identities to open new customer accounts and the like are abuse for all the population, but maybe, since the bankers are committing the real abuse, you suggest we just look the other way?

catsfroggy1

If it does then what will the point of getting a credit card? To pay interest and annual fees? If they shut the bonus chasing down I just will go back to using a debit card

Noctilum

You would choose to use a debit card over a cashback or points card just because you wouldn't be able to churn sign up bonuses anymore? I for one love the protections of a credit card versus credit card, and since they don't give you a cheaper price for using cash or debit typically, you might as well get rewards for buying stuff with a credit card.

beachmouse

A debit card isn't going to double the warranty on high dollar consumer purchases, and for travel purposes, a hotel putting a hold on funds is essentially invisible on a credit card but highly annoying with a debit card. Also easier to rent cars with a credit card, and the card's insurance is far cheaper than the rental company's CDW/'Super Cover' extortion rate.

If you're out of the churning game, there are any number of perfectly nice no annual fee credit cards that provide those kinds of benefits