Oct 4, 2018, 1:05 pm
Last edit by: roberto99
Faq amex: https://www.americanexpress.com/us/campaigns/gold-card/gold-update-faqs.html
For existing and new cardholders
For new cardholders (Oct 4 2018 and after)
For existing cardholders (Oct 3 2018 or before)
For existing and new cardholders
- Changes below are effective immediately
- 4x US grocery (25k/calendar year), 4x US dining* (*pervasive reports that many dining transactions are not coding as 4x, including but not limited to those from Square or Toast-based POS systems. Scroll down in thread for more reports and information.)
- $120 dining credit ($10 monthly in certain restaurants)
- No change
- $100 calendar year airline reimbursement
- Other
- $250 AF (see below for existing cardholders)
- No 2x gas (removed, see below for existing cardholders who have it till Oct 2019)
- Metal card (contactless)
- Rose gold card - limited edition until Jan 9 2019
- Regular gold card
For new cardholders (Oct 4 2018 and after)
- You may be able to find targeted/referal 50k/$2k, but first AF is not waived
- Signup bonus: You get 20% off restaurant up to $500 restaurant spend (3 month)
- You do not get 2x gas (only for existing cardholders, see below)
For existing cardholders (Oct 3 2018 or before)
- AF will change to $250 for anniversary dates after April 1 2019
- 2x gas will be removed after Oct 2019
- You can chat/call for the gold/rosegold metal card. AU card will get whatever primary cardholder is getting, cannot be different
Premier Rewards Gold refresh: 4x USA dining, groceries, $10/mon dining credit. $250.
Oct 4, 2018, 11:50 am
#271
Join Date: Dec 2017
Posts: 1,107
I do not think this will shake Chase CSR. Clearly Chase is going a different direction and won't compete head to head.
Chase has one huge asset. It is a true bank, and AmEx is not a true bank. Chase may lean toward BofA Preferred Rewards Program. The Sapphire Banking relationship clear states that. For its high balance bank customers, I'll see Chase to increase the CSR reward up to another 1.5x,even 1.75x on UR points. AmEx gets nothing to compete on the bank deposit front.
Citi will also be part of the game. Wells Fargo has something like this (bank relationship), but it has not leveraged yet.
The game just gets started. I expect AmEx to continue to increase its AF. The cost is just very high with a $55 AF increase.
Chase has one huge asset. It is a true bank, and AmEx is not a true bank. Chase may lean toward BofA Preferred Rewards Program. The Sapphire Banking relationship clear states that. For its high balance bank customers, I'll see Chase to increase the CSR reward up to another 1.5x,even 1.75x on UR points. AmEx gets nothing to compete on the bank deposit front.
Citi will also be part of the game. Wells Fargo has something like this (bank relationship), but it has not leveraged yet.
The game just gets started. I expect AmEx to continue to increase its AF. The cost is just very high with a $55 AF increase.
Sure, I get that. They won’t be luring away those heavily invested in Chase whom hold many different products.
However someone just in Chase for cards that wants more from the Preferred, yet not willing to make the move to a Reserve, this might sway them.
Especially when we’re talking the average user, and not those who really read up and study the “game.” For your average consumer I think they’ll take a look and be highly tempted. Especially when they see that what was a charge card has now become more of a hybrid card. (FT knows better, but we’re not the average Joe.)
Oct 4, 2018, 12:13 pm
#272
Join Date: Jul 2012
Location: RDU
Programs: DL(PM), UA(Silver), AA(EXP) Marriott(Ti), HH(Gold), Hertz(PC)
Posts: 2,668
Yes, just now using Chrome, not in incognito mode (though I never use Chrome to access my Amex accounts). It took a few reloads. I don't know if the browser or incognito really help, it may be just be every so many page loads. No way to tell.
Oct 4, 2018, 1:04 pm
#274
Join Date: Jul 2014
Location: LAX
Programs: Hyatt Globalist, AA EXP, Hilton Diamond, Wyndham Diamond, DL PM, Marriott Platinum, IHG Platinum
Posts: 1,305
Thanks! I am aware of that but the question is whether Amex has developed some new expertise (Level III data) or would it be just data mining. Just wondering how confident they are in avoiding the potential abuse and if one should even come close to maxing out $25K grocery spend every year.
Oct 4, 2018, 1:14 pm
#276
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
Sure, I get that. They won’t be luring away those heavily invested in Chase whom hold many different products.
However someone just in Chase for cards that wants more from the Preferred, yet not willing to make the move to a Reserve, this might sway them.
Especially when we’re talking the average user, and not those who really read up and study the “game.” For your average consumer I think they’ll take a look and be highly tempted. Especially when they see that what was a charge card has now become more of a hybrid card. (FT knows better, but we’re not the average Joe.)
However someone just in Chase for cards that wants more from the Preferred, yet not willing to make the move to a Reserve, this might sway them.
Especially when we’re talking the average user, and not those who really read up and study the “game.” For your average consumer I think they’ll take a look and be highly tempted. Especially when they see that what was a charge card has now become more of a hybrid card. (FT knows better, but we’re not the average Joe.)
Oct 4, 2018, 1:20 pm
#278
Join Date: Sep 2007
Posts: 998
So to touch again on my question of "who the heck spends $25,000 a year on groceries!?" the general feel I'm getting from everyone here is that people buy ANYTHING to count as grocery spend, to just max out the bonus. Ok... but since Amex seems to really crack down on any stores that sell anything other than food/home items and call those stores warehouse or club stores (and thus do NOT get the grocery bonus), I'm guessing people are buying retail gift cards, gas cards, or VISA/MC gift cards. I thought Amex was really one of the ones that you DIDN'T want to be spending thousands a month on gift cards because they cracked down on that stuff...
Has this changed? Or spending $1,000 to $2,000 a month on grocery via gift card purchases still small enough to not wake the beast? I figure they use some kind of machine learning to look at the average spend in those sectors and then target accounts that are way outside of that spend... maybe FT people are enough to shift the average high enough that we mask ourselves? I figured I would keep my gift card purchases down near $400 to $600 a week and TRY to toss some normal items onto it to "blend into" the norm for the grocery spend... but was still worried a bit.
Has this changed? Or spending $1,000 to $2,000 a month on grocery via gift card purchases still small enough to not wake the beast? I figure they use some kind of machine learning to look at the average spend in those sectors and then target accounts that are way outside of that spend... maybe FT people are enough to shift the average high enough that we mask ourselves? I figured I would keep my gift card purchases down near $400 to $600 a week and TRY to toss some normal items onto it to "blend into" the norm for the grocery spend... but was still worried a bit.
Oct 4, 2018, 1:23 pm
#279
Join Date: Dec 2017
Location: SFO/YYZ
Programs: AC 25K, AS MVP Gold, BA Bronze, UA Silver, Marriott Titanium, Hilton Diamond, Hyatt Globalist
Posts: 2,469
DP that might be useful for some. I was able to have phone support overnight me a rose gold card to Canada, so it'll arrive tomorrow. It was a bit of a roundabout process on the phone though, mostly due to one of the reps thinking that the rose gold wasn't available until January.
Oct 4, 2018, 1:24 pm
#280
Suspended
Join Date: Jan 2017
Location: EWR/PHL/BWI
Posts: 4,412
So to touch again on my question of "who the heck spends $25,000 a year on groceries!?" the general feel I'm getting from everyone here is that people buy ANYTHING to count as grocery spend, to just max out the bonus. Ok... but since Amex seems to really crack down on any stores that sell anything other than food/home items and call those stores warehouse or club stores (and thus do NOT get the grocery bonus), I'm guessing people are buying retail gift cards, gas cards, or VISA/MC gift cards. I thought Amex was really one of the ones that you DIDN'T want to be spending thousands a month on gift cards because they cracked down on that stuff...
Has this changed? Or spending $1,000 to $2,000 a month on grocery via gift card purchases still small enough to not wake the beast? I figure they use some kind of machine learning to look at the average spend in those sectors and then target accounts that are way outside of that spend... maybe FT people are enough to shift the average high enough that we mask ourselves? I figured I would keep my gift card purchases down near $400 to $600 a week and TRY to toss some normal items onto it to "blend into" the norm for the grocery spend... but was still worried a bit.
Has this changed? Or spending $1,000 to $2,000 a month on grocery via gift card purchases still small enough to not wake the beast? I figure they use some kind of machine learning to look at the average spend in those sectors and then target accounts that are way outside of that spend... maybe FT people are enough to shift the average high enough that we mask ourselves? I figured I would keep my gift card purchases down near $400 to $600 a week and TRY to toss some normal items onto it to "blend into" the norm for the grocery spend... but was still worried a bit.
Oct 4, 2018, 1:34 pm
#281
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,955
American Express cannot change the terms of the card in the first 12 months. This not only means they cannot impose a fee if your offer waived it, but it should also mean that they cannot remove the Gasoline bonus category or impose a cap on Supermarket spending where there was none when we applied. .
In October 2019, the 2X on U.S. Gas Stations will be removed from the Gold Card for all current Gold Card Members who were approved before October 4, 2018.
Oct 4, 2018, 1:59 pm
#282
Join Date: Jul 2014
Location: LAX
Programs: Hyatt Globalist, AA EXP, Hilton Diamond, Wyndham Diamond, DL PM, Marriott Platinum, IHG Platinum
Posts: 1,305
Oct 4, 2018, 2:02 pm
#283
Join Date: Jul 2014
Location: LAX
Programs: Hyatt Globalist, AA EXP, Hilton Diamond, Wyndham Diamond, DL PM, Marriott Platinum, IHG Platinum
Posts: 1,305
So to touch again on my question of "who the heck spends $25,000 a year on groceries!?" the general feel I'm getting from everyone here is that people buy ANYTHING to count as grocery spend, to just max out the bonus. Ok... but since Amex seems to really crack down on any stores that sell anything other than food/home items and call those stores warehouse or club stores (and thus do NOT get the grocery bonus), I'm guessing people are buying retail gift cards, gas cards, or VISA/MC gift cards. I thought Amex was really one of the ones that you DIDN'T want to be spending thousands a month on gift cards because they cracked down on that stuff...
Has this changed? Or spending $1,000 to $2,000 a month on grocery via gift card purchases still small enough to not wake the beast? I figure they use some kind of machine learning to look at the average spend in those sectors and then target accounts that are way outside of that spend... maybe FT people are enough to shift the average high enough that we mask ourselves? I figured I would keep my gift card purchases down near $400 to $600 a week and TRY to toss some normal items onto it to "blend into" the norm for the grocery spend... but was still worried a bit.
Has this changed? Or spending $1,000 to $2,000 a month on grocery via gift card purchases still small enough to not wake the beast? I figure they use some kind of machine learning to look at the average spend in those sectors and then target accounts that are way outside of that spend... maybe FT people are enough to shift the average high enough that we mask ourselves? I figured I would keep my gift card purchases down near $400 to $600 a week and TRY to toss some normal items onto it to "blend into" the norm for the grocery spend... but was still worried a bit.
Oct 4, 2018, 2:19 pm
#284
Join Date: Oct 2010
Location: DFW
Posts: 684
So to touch again on my question of "who the heck spends $25,000 a year on groceries!?" the general feel I'm getting from everyone here is that people buy ANYTHING to count as grocery spend, to just max out the bonus. Ok... but since Amex seems to really crack down on any stores that sell anything other than food/home items and call those stores warehouse or club stores (and thus do NOT get the grocery bonus), I'm guessing people are buying retail gift cards, gas cards, or VISA/MC gift cards. I thought Amex was really one of the ones that you DIDN'T want to be spending thousands a month on gift cards because they cracked down on that stuff...
Has this changed? Or spending $1,000 to $2,000 a month on grocery via gift card purchases still small enough to not wake the beast? I figure they use some kind of machine learning to look at the average spend in those sectors and then target accounts that are way outside of that spend... maybe FT people are enough to shift the average high enough that we mask ourselves? I figured I would keep my gift card purchases down near $400 to $600 a week and TRY to toss some normal items onto it to "blend into" the norm for the grocery spend... but was still worried a bit.
Has this changed? Or spending $1,000 to $2,000 a month on grocery via gift card purchases still small enough to not wake the beast? I figure they use some kind of machine learning to look at the average spend in those sectors and then target accounts that are way outside of that spend... maybe FT people are enough to shift the average high enough that we mask ourselves? I figured I would keep my gift card purchases down near $400 to $600 a week and TRY to toss some normal items onto it to "blend into" the norm for the grocery spend... but was still worried a bit.
Last edited by knopfler; Oct 4, 2018 at 2:20 pm Reason: spelling
Oct 4, 2018, 2:23 pm
#285
Join Date: Jan 2014
Location: TYS/BNA/ATL
Programs: UR, TYP, MR, C1, AA, UA, WN, BA, AS, AV, AC, Choice, Hyatt, IHG, Hilton, Wyndham, Marriott
Posts: 1,978