Changes for AMEX Sweden Customers

Old Oct 25, 18, 4:11 am
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Changes for AMEX Sweden Customers

Hi all,

just got a mail from AMEX and spoke with them on the phone. They want to eventually shut down the current SAS debit cards (all cards starting with 3757) and replace it with true credit cards (starting with 3759). Wasn't even aware the current cards where considered debit cards, I always thought them to be be credit cards with a very short settlement period

To incentive customers to make the switch, the EB earnings on the old debit card will be reduced effectively 1st Jan 2019. E.g. for my Elite card from 20points/100SEK to 15points/100SEK. If you want to make the switch to the new card, you have to apply for a new card, including a new credit check.

More information here: https://www.americanexpress.com/se/k...intjaning.html

One important note: The agent told me, they will transfer all your account history to the new card, including EB points with the exception of the accumulated spending the year. As I already reached the 300k for the second 2-4-1 voucher, it didn't matter for me. But if you are short on reaching the next voucher level, do not exchange the card now, but wait until you have been awarded the voucher with the old card.

Btw, the online application went through smooth and the new card was approved within seconds for me, even though I'm officially self employed. I guess they just looked at my credit history with them and that throughout the years I never once missed out of paying up the full invoice.
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Old Oct 25, 18, 5:01 am
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Oh, and I spotted something very sneaky:

What payment amount will appear on my e-invoice?

The first time you receive an e-invoice on your credit card, it is set at the minimum amount to pay, ie not the total amount on the invoice. If you wish to pay the total amount, you can easily change the amount on the e-invoice of your internet bank. If you want the total amount of your e-invoice each month, you will call us for change. You only need to call once to get this adjusted. If you wish to pay the invoice a month, you can easily change the amount to pay in your internet bank. Your lowest amount to pay will be found when you are signed in to the Amex SE app, your account at americanexpress.se or the e-invoice.
That is nasty! It should be the other way around, they settle for the full amount and if you want to pay just a part of it, adjust the payment. I see a lot of people falling into that trap and pay horrendous amounts of interest for their very first invoice, or even several until they actually get around to call AMEX and ask them to settle the full amount each month.

And the yearly fee has been increased by 20 SEK, e.g. for the Elite card from 4 000 SEK/year to 4 020 SEK/year. Not worth making a fuss about, but... well... they could make it a bit more obvious.
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Old Oct 25, 18, 12:35 pm
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Originally Posted by fassy View Post
Oh, and I spotted something very sneaky:



That is nasty! It should be the other way around, they settle for the full amount and if you want to pay just a part of it, adjust the payment. I see a lot of people falling into that trap and pay horrendous amounts of interest for their very first invoice, or even several until they actually get around to call AMEX and ask them to settle the full amount each month.

And the yearly fee has been increased by 20 SEK, e.g. for the Elite card from 4 000 SEK/year to 4 020 SEK/year. Not worth making a fuss about, but... well... they could make it a bit more obvious.
Revolving payments is what really generates the profits for the credit card companies, so hardly surprising that they try this.
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Old Oct 26, 18, 7:47 am
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Originally Posted by CPH-Flyer View Post
Revolving payments is what really generates the profits for the credit card companies, so hardly surprising that they try this.
True, but had not yet seen that with any credit card I ever had. Full settlement was always the default plan.
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Old Oct 26, 18, 9:36 am
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Originally Posted by fassy View Post
True, but had not yet seen that with any credit card I ever had. Full settlement was always the default plan.
I've never had full settlement by default, with any of my SEB issued card. Sadly.
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Old Oct 27, 18, 12:08 pm
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Thanks for the heads up as we will be affected. Feels like there are a few more changes to Eurobonus coming aside from the already announced decreased earnings.
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Old Oct 28, 18, 4:59 am
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This must be part of SAS's quarterly effort to make EB worse and to force their customers into the arms of the competition.
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Old Oct 28, 18, 7:59 am
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Originally Posted by fassy View Post
True, but had not yet seen that with any credit card I ever had. Full settlement was always the default plan.
Now that I think about, the EB Master card I had in Denmark years ago was sort of the same, you could not set it for automatic full settlement. It had to be done by manually setting the amount every month.
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Old Oct 29, 18, 2:43 am
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Originally Posted by fassy View Post
One important note: The agent told me, they will transfer all your account history to the new card, including EB points with the exception of the accumulated spending the year
gives me an idea, I could hit another 150k between now and the end of the year, I wonder if I could get a third cert if I switch now...
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Old Oct 29, 18, 3:10 am
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Interesting idea...
Originally Posted by w0r1dtrave1er View Post
gives me an idea, I could hit another 150k between now and the end of the year, I wonder if I could get a third cert if I switch now...
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Old Oct 31, 18, 7:48 am
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Originally Posted by studentCPH View Post
I've never had full settlement by default, with any of my SEB issued card. Sadly.
SEB tends to be one of the more greedy banks when it comes to retail consumer products marketed in Sweden, so canít say Iím surprised that it is their practice to have the monthly default payment/settlement amount set so as to milk customers who are underinformed or not persistent enough in dealing with the bank. But it seems like most banks and retailers with credit/charge card products in Sweden have some special ways of milking consumers more than I see done by major US credit card issuers. That said, it also seems like issuers in Sweden seem to be more likely to accept a first time excuse to waive or revise costs from those who complain in perfect Swedish about a new/young bank product that had higher costs than expected.

For people who wait for card statements to come in the mail before paying up, the costs tend to be worse than for those who check online religiously.
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Old Oct 31, 18, 8:37 am
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Originally Posted by GUWonder View Post
For people who wait for card statements to come in the mail before paying up, the costs tend to be worse than for those who check online religiously.
Well, Sweden is the country where you pay $4 to $5 just to get a paper invoice. Actually Telia took it to a new low and charges 49 SEK invoice fee even if they do not send a paper letter. You have to pay the fee as long as you do not acknowledge eFaktura or Autogiro.

About SEB, I only I have the SAS EuroBonus card from them. There the default settlement was to settle for the full invoice amount.
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Old Nov 1, 18, 7:52 am
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Well, one thing with the new card is actually nice. Instead of settling the 4.000 SEK fee once a year, it is split down to a monthly fee. Doesn't make a huge difference but I prefer having to pay 333 SEK a month over 4.000 SEK in one month.
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Old Nov 1, 18, 8:44 am
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Originally Posted by fassy View Post
Well, one thing with the new card is actually nice. Instead of settling the 4.000 SEK fee once a year, it is split down to a monthly fee. Doesn't make a huge difference but I prefer having to pay 333 SEK a month over 4.000 SEK in one month.
The Amex Platinum card in Sweden is also a card whose fee is monthly over the year rather than one payment for the whole year. I thought it makes a difference because then someone can get the card for seasonal benefits use at a fraction of the cost if stuck with the card and/or the yearly fee(s) of the card for a whole year.

Is this monthly prorating of the card fee a legal requirement in Sweden? Or is it just an Amex thing in Sweden?
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Old Nov 1, 18, 9:21 am
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Originally Posted by GUWonder View Post
Is this monthly prorating of the card fee a legal requirement in Sweden? Or is it just an Amex thing in Sweden?
It is definitely not a "Swedish thing". The SEB EB MasterCard, my Handelsbanken account plus MasterCard and the COOP card settled the card fee as a one-time fee each year. I guess it is just that AMEX thinks a huge one-time payment will look scary to some customers and therefor lose market share/penetration.
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