No More Repeat Bonuses: Amex Limiting UK Credit Card Sign Up Bonuses
Jan 23, 2018, 2:08 pm
#17
Join Date: Dec 2016
Programs: BAEC GGL/CR; Hilton Diamond; Mucci des Puccis
Posts: 5,572
Just to slightly hijack this thread, because it's triggered a lateral thought, if I switch from a free blue BA card to the paid BA card, having spent more than £10K, do I instantly get a 241 voucher from the new card? I've remember seeing something that suggests I do and I can see a use for that.
On the subject in hand, these loopholes come and go, I remember the glory days of stoozing where I offset my entire mortgage for 3 years with balance transfer deals, you could literally write yourself a cheque for thousands of pounds of interest free cash. Best not to recriminate, and look for the next one. My favourite of all was on a German betting site (bwin) which had a loyalty scheme. I figured out that by playing world football top trumps and raising the stakes to maximum when there was a no win/no lose bet, then playing for minimum stakes for everything else (essentially you would bob along without losing much), I could effectively generate infinite loyalty points which could be used for 400 euro a month cash, goods and merchandise (I got loads of shirts, poker sets, footballs, a PS2, etc) and raffle tickets (a friend of mine who was also in on it bought all the tickets for a VIP trip to Real Madrid, and of course won). It was truly the most gleeful loophole ever, and it took them three months to figure out what we were doing and shut it down. Even to this day the mention of Ronaldo (the original one) still triggers a slight endorphin rush.
In general, the life is being squeezed out of all loyalty schemes by the relentless march of cost reduction. Same will definitely be true of credit cards.
On the subject in hand, these loopholes come and go, I remember the glory days of stoozing where I offset my entire mortgage for 3 years with balance transfer deals, you could literally write yourself a cheque for thousands of pounds of interest free cash. Best not to recriminate, and look for the next one. My favourite of all was on a German betting site (bwin) which had a loyalty scheme. I figured out that by playing world football top trumps and raising the stakes to maximum when there was a no win/no lose bet, then playing for minimum stakes for everything else (essentially you would bob along without losing much), I could effectively generate infinite loyalty points which could be used for 400 euro a month cash, goods and merchandise (I got loads of shirts, poker sets, footballs, a PS2, etc) and raffle tickets (a friend of mine who was also in on it bought all the tickets for a VIP trip to Real Madrid, and of course won). It was truly the most gleeful loophole ever, and it took them three months to figure out what we were doing and shut it down. Even to this day the mention of Ronaldo (the original one) still triggers a slight endorphin rush.
In general, the life is being squeezed out of all loyalty schemes by the relentless march of cost reduction. Same will definitely be true of credit cards.
Jan 23, 2018, 2:36 pm
#18
Join Date: Jan 2005
Programs: BA Gold, AA Lifetime Gold 1.8mm, IC Spire Ambassador, Hilton Diamond, SPG Gold et al
Posts: 4,350
While I get the criticism levelled at the churners, Amex have been perfectly happy to tolerate it for a very long time and on more than 1 occasion when I have cancelled a card I no longer had use for, the agent has specifically pointed out that I could re-apply and receive the benefits of a new applicant after a specified period of time.
Jan 23, 2018, 4:23 pm
#20
Join Date: Sep 2009
Posts: 1,013
I applied for Amex Gold last week after a two year abstinence. Not churning. I just know I'll be spending more heavily in coming months.
I'll get 22k Avios and amex get business they would not have achieved without offering the bonus avios. Every advert they do is keyed towards highlighting the sign up bonus. Things change so folk inclined will move on to new ways.
I'll get 22k Avios and amex get business they would not have achieved without offering the bonus avios. Every advert they do is keyed towards highlighting the sign up bonus. Things change so folk inclined will move on to new ways.
Jan 23, 2018, 5:27 pm
#21
Join Date: Nov 2013
Location: PHX, SEA
Programs: DL Silver, Avis President's Club, Hertz President's Circle, Global Entry (Former AA Plt/Gold)
Posts: 4,420
While I get the criticism levelled at the churners, Amex have been perfectly happy to tolerate it for a very long time and on more than 1 occasion when I have cancelled a card I no longer had use for, the agent has specifically pointed out that I could re-apply and receive the benefits of a new applicant after a specified period of time.
My thoughts are that churning has increased, given the popularity of hundreds of travel blogs that all push credit card links and referrals. On top of that, in the US the FFs are all earning on spending now so credit cards are the only way to get a big chunk of miles (instead of the old cheap mileage runs).
Jan 23, 2018, 5:30 pm
#22
Join Date: Dec 2010
Location: LHR
Programs: Accor PLT,Thai Silver, HH Dia, SPG Titanium (LT Gold), Aegean Gold, BA Silver
Posts: 5,115
While I get the criticism levelled at the churners, Amex have been perfectly happy to tolerate it for a very long time and on more than 1 occasion when I have cancelled a card I no longer had use for, the agent has specifically pointed out that I could re-apply and receive the benefits of a new applicant after a specified period of time.
Market survey ?
Jan 23, 2018, 5:44 pm
#23
Join Date: Jun 2008
Location: GLA
Programs: BA Silver
Posts: 2,958
Fail to see how cancelling and re-applying six months later for the sign up bonus is abuse, when Amex itself set the rule that you could get a sign-up bonus after 6 months. If Amex wasn’t happy with this, it was always within its gift to change the terms or decline an application. It didn’t, therefore we can only assume it was happy with its offering.
Things appear to have changed now, we don’t know why. That’s fine - Amex’s products, Amex’s rules.
Things appear to have changed now, we don’t know why. That’s fine - Amex’s products, Amex’s rules.
Jan 23, 2018, 7:40 pm
#25
Join Date: Feb 2012
Location: Jakarta
Programs: BA GGL, GA PLAT, SQ Gold
Posts: 527
I have always thought why don’t Amex do more to keep customers rather than allow card churning etc for people who would only spend the bonus theshold and cancel,
cant say I could ever have been bothered cancel and reapply a card for 20,000 points etc , life is too short ...
cant say I could ever have been bothered cancel and reapply a card for 20,000 points etc , life is too short ...
Jan 23, 2018, 11:01 pm
#26
Join Date: Nov 2015
Location: London
Programs: BA Gold
Posts: 1,680
I disagree. It's simply following the rules in a pattern that best suits you. Is an Ex-EU abuse?
More specifically as someone else mentioned I essentially had an Amex agent all but detail to me how to best maximise sign-up bonuses.
Almost all bank accounts and insurance reward the same behaviour as churning. Do you just pay your insurance premiums every year rather than search for a better deal? If you remain 'loyal' which in itself is a strange concept with a large entity like Amex, you simply don't get the best rewards as they're effectively buying new business from people that don't remain with them.
When they no longer consider this good business they'll stop it. I won't consider that disloyal of them, I'll consider it a commercial decision about their business practice. Amex and the customer is a business transaction, nothing more.
More specifically as someone else mentioned I essentially had an Amex agent all but detail to me how to best maximise sign-up bonuses.
Almost all bank accounts and insurance reward the same behaviour as churning. Do you just pay your insurance premiums every year rather than search for a better deal? If you remain 'loyal' which in itself is a strange concept with a large entity like Amex, you simply don't get the best rewards as they're effectively buying new business from people that don't remain with them.
When they no longer consider this good business they'll stop it. I won't consider that disloyal of them, I'll consider it a commercial decision about their business practice. Amex and the customer is a business transaction, nothing more.
Jan 24, 2018, 12:07 am
#27
Join Date: Nov 2010
Location: Bristol
Programs: BA GGL, UA Plat, DL Plat, Hilton Diamond
Posts: 2,380
While discussion of churning on the proliferation of travel blogs may have moved it onto the exec radar at AmEx, that does rather play to the belief (let's be kind and call it "optimistic") that many, including here on FT, have regarding their influence on the industry...
I think it's far more likely that, as pointed out above, the market has shifted. AmEx no longer need to fund such attractive deals to drive new business. So they have stopped doing this and will spend the money on something else...
Sometimes, it IS what it seems
I think it's far more likely that, as pointed out above, the market has shifted. AmEx no longer need to fund such attractive deals to drive new business. So they have stopped doing this and will spend the money on something else...
Sometimes, it IS what it seems
Jan 24, 2018, 12:30 am
#28
Join Date: Jan 2015
Location: London
Programs: BA GGL, Gold for life
Posts: 127
These are the Ts&Cs still on the website, its been 6 months and a week since my wife cancelled her card, she has applied today and will let you know how it goes! Will be annoyed if they don't abide by their own Ts&Cs, they should at least update them if they really have made a change.The Preferred Rewards Gold Card
REFERRAL PROGRAMME TERMS
- You will receive 9,000 bonus Membership Rewards points if your friend or family member uses the Referral Programme to apply for a card (other than a Basic Card) and is approved. You will not receive any points if they apply for a Basic Card.
- Only friends and family: You must only send the referral link to close friends and family. We will not discuss the outcome of your friend or family member’s card application.
- Ask their permission first: Please don’t spam. Before sharing the referral link with your friend or family member, you must ensure you have obtained their consent to receiving this type of marketing communication. Sending emails to people without consent is considered spam.
- Your friend or family member must apply using the referral link you share with them.
- You must have a Preferred Rewards Gold Card Account to receive bonus points.
- It may take up to ten weeks for the bonus points to be credited to your account, if your friend or family member’s card application is successful.
- You can earn up to a maximum of 90,000 bonus points per calendar year.
- If you do not comply with these terms, you could lose your bonus points and you will be excluded from participating in the Preferred Rewards Gold Card Referral Programme in future.
- If payments to your Preferred Rewards Gold Card Account are not kept up to date, you could lose your bonus points.
- If your friend or family member holds or has held in the past six months the card they are applying for, then they will not receive bonus Membership Rewards, Avios, Starpoints, Nectar points or cashback (as applicable).
- If your friend or family member holds or has held in the past six months a card with the same reward scheme as the card they are applying for, then they will not receive bonus Membership Rewards, Avios, Starpoints, Nectar points or cashback (as applicable).
- You can receive up to 90,000 Membership Rewards® points per calendar year when you refer your friends for a Card. That's enough for an Economy return flight from London to Sydney. Terms, taxes, and fees apply. You’ll only earn points if your friend is approved for a Card. This destination is representative only and all routes are subject to seasonality and availability. London to Sydney costs 65,000 Avios for an off-peak return Economy flight.
Jan 24, 2018, 12:44 am
#29
Join Date: Oct 2017
Location: Cornwall
Posts: 256
These are the Ts&Cs still on the website, its been 6 months and a week since my wife cancelled her card, she has applied today and will let you know how it goes! Will be annoyed if they don't abide by their own Ts&Cs, they should at least update them if they really have made a change.The Preferred Rewards Gold Card
REFERRAL PROGRAMME TERMS
- You will receive 9,000 bonus Membership Rewards points if your friend or family member uses the Referral Programme to apply for a card (other than a Basic Card) and is approved. You will not receive any points if they apply for a Basic Card.
- Only friends and family: You must only send the referral link to close friends and family. We will not discuss the outcome of your friend or family member’s card application.
- Ask their permission first: Please don’t spam. Before sharing the referral link with your friend or family member, you must ensure you have obtained their consent to receiving this type of marketing communication. Sending emails to people without consent is considered spam.
- Your friend or family member must apply using the referral link you share with them.
- You must have a Preferred Rewards Gold Card Account to receive bonus points.
- It may take up to ten weeks for the bonus points to be credited to your account, if your friend or family member’s card application is successful.
- You can earn up to a maximum of 90,000 bonus points per calendar year.
- If you do not comply with these terms, you could lose your bonus points and you will be excluded from participating in the Preferred Rewards Gold Card Referral Programme in future.
- If payments to your Preferred Rewards Gold Card Account are not kept up to date, you could lose your bonus points.
- If your friend or family member holds or has held in the past six months the card they are applying for, then they will not receive bonus Membership Rewards, Avios, Starpoints, Nectar points or cashback (as applicable).
- If your friend or family member holds or has held in the past six months a card with the same reward scheme as the card they are applying for, then they will not receive bonus Membership Rewards, Avios, Starpoints, Nectar points or cashback (as applicable).
- You can receive up to 90,000 Membership Rewards® points per calendar year when you refer your friends for a Card. That's enough for an Economy return flight from London to Sydney. Terms, taxes, and fees apply. You’ll only earn points if your friend is approved for a Card. This destination is representative only and all routes are subject to seasonality and availability. London to Sydney costs 65,000 Avios for an off-peak return Economy flight.
Jan 24, 2018, 1:01 am
#30
FlyerTalk Evangelist, Ambassador, British Airways Executive Club
Join Date: Jun 2008
Location: Somewhere between 0 and 13,000 metres high
Programs: AF/KL Life Plat, BA GGL+GfL, ALL Plat, Hilton Diam, Marriott Gold, blablablah, etc
Posts: 30,491
