Cut up AMEX CC???

[bazzaw]

Have just upgraded my CC to a "Platinum" one (with the free travel ins :) ) As part of the deal, my bank has also issued me with an American Express card. I really have no need for this card and can't imagine why I would want to use it (except that it does pay bigger frequent flyer points than the normal Platinum card.)

 

What say you? Does anybody here use an AMEX card? -- what advantages does it have?? I know that many retailers are loathe to take it as it costs them more.

 

Barry

[Kiwi Kruzer]

I seem to be always getting letters offerring me an Amex card that comes with all the bells and whistles.

Looks good until you get to the fine print and see the annual fee they charge ..:eek:

and as you say ...retailers are very reluctant to accept it......unless you are offerring the full retail asking price...and even then , are not to keen.

 

I wonder how much cheaper things would be , if we all went back to using cash?

Perhaps we have all been brainwashed to accept the fact that a bank clips the ticket as a matter of course..:eek:

 

 

[Tomo72]

Free travel insurance for any holiday you pay for with the card. We have used it a few times with no hassles at all. Lost camera bag in Hong Kong paid for over $1500. Inconvienience cover for car hire, hotel, food and extended airport parking after cancelled flights saved us $1000 in January when stranded on the Old Coast for two days during the storms this year.

 

Also free accident insurance on any car hire paid for with the card. Gave us awesome peace of mind and saved $40 a day.

[Rassa]

I cut the AMEX card as retailers don't like it.

 

But I wonder if the FREE travel insurance is worth it anymore. There is a $200 excess for insurance claims and no insurance for current medical condition/s (should you have one). Also when you buy holidays from overseas with your card, there is the international transaction fee that banks are now charging and which can be quite expensive if you pay thousands for your holiday. Once I was overseas, I used the 28 Degree Card with no international transaction fee. However, my friend did cancel her holiday early this year and received $10,000 back from her free travel insurance gold card.

Rosie

[The_Big_M]

Bazza the benefit you point out is the reason people use it.

 

If you don't care about points then cut it up. But if you do, then just keep it. There are some merchants that accept it readily e.g. supermarkets.

[bazzaw]

Bazza the benefit you point out is the reason people use it.

 

If you don't care about points then cut it up. But if you do, then just keep it. There are some merchants that accept it readily e.g. supermarkets.

 

Thanks Big M. Well I don't really go out of my way to collect FF points - and we don't fly much, but I recently bought some cooking equipment from the Qantas store with what points I had accumulated by (mostly) shopping at supermarkets. It seems that it costs me no more to have it than not. I think I might sit on it for a while and ponder.

 

Barry

[Aus Traveller]

Thanks Big M. Well I don't really go out of my way to collect FF points - and we don't fly much, but I recently bought some cooking equipment from the Qantas store with what points I had accumulated by (mostly) shopping at supermarkets. It seems that it costs me no more to have it than not. I think I might sit on it for a while and ponder.

 

Barry

 

Barry - The main reason we don't have an Amex card is that the annual fee is too high, plus the fact that some traders charge a higher fee if you use Amex, or won't take it at all. Maybe they have issued it to you with a "free honeymoon". I suggest you check it out because you don't want to be slugged down the track with a fee just because you stuck the Amex card in your wallet (or the back of the drawer) and forgot about it.

[The_Big_M]

Barry - The main reason we don't have an Amex card is that the annual fee is too high, plus the fact that some traders charge a higher fee if you use Amex, or won't take it at all. Maybe they have issued it to you with a "free honeymoon". I suggest you check it out because you don't want to be slugged down the track with a fee just because you stuck the Amex card in your wallet (or the back of the drawer) and forgot about it.

 

I think he'll be fine. There are a number of banks that have done this 'free Amex' arrangement - it's permanently free (well, until they change things again! :0).

 

They gain as they get more interchange fees from them, which is why they want you to use it. And those fees provide for more points, which is the bait to get you to use it.

 

It's one of those things that if it suits you, no harm in using it.

[bazzaw]

I cut the AMEX card as retailers don't like it.

 

But I wonder if the FREE travel insurance is worth it anymore. There is a $200 excess for insurance claims and no insurance for current medical condition/s (should you have one). Also when you buy holidays from overseas with your card, there is the international transaction fee that banks are now charging and which can be quite expensive if you pay thousands for your holiday. Once I was overseas, I used the 28 Degree Card with no international transaction fee. However, my friend did cancel her holiday early this year and received $10,000 back from her free travel insurance gold card.

Rosie

 

I have to admit that I am nervous about this "free" travel insurance. I am nervous enough as it is with insurance that I have paid for -- much less free.

 

I will have to sit down and read the fine print in detail!!!!

 

Trouble is when you do read the fine print of any of these insurances, they are not 100% clear. For example, a policy that I did get to pay out for me when we cancelled a trip because of the Icelandic volcano - said something like "If your trip is cancelled due to volcanos :), you are covered. BUT it didn't say -- cancelled by who!!! :rolleyes: And I was the one who cancelled, not the airlines.

 

As for the cost of the "free" insurance, a lot of paid insurance have an excess and also don't cover some pre-existing illnesses.

 

Barry

[bazzaw]

I think he'll be fine. There are a number of banks that have done this 'free Amex' arrangement - it's permanently free (well, until they change things again! :0).

 

They gain as they get more interchange fees from them, which is why they want you to use it. And those fees provide for more points, which is the bait to get you to use it.

 

It's one of those things that if it suits you, no harm in using it.

 

Yes -- my understanding is that the AMEX part of it is no extra cost -- and the upgrade to Platinum was only an additional $50 per year above my normal Frequent Flyer card. I spill more beer than that in a week!!! :)

 

Barry

[Goldenfox]

I've had AMEX Gold for about 17 years now. Wouldn't leave home without it. In addition to the travel insurance/car rental insurance, you also get a point for every dollar you spend, and sometimes, triple points when they're running a promotion for every dollar (if enrolled in Membership Rewards). I've never been charged a premium to use it. I can use my points to pay for Amazon purchases, or cash them in for high priced items. For example, i cashed in points for a $500 handbag. Essentially I got it free. Since i shop Costco mostly as well, i can use my AMEX. I get early access to certain events thru Ticketmaster, and can use my points to pay for event tickets. Technically there's no limit based on your purchasing history, and since you have to pay the balance in full every month, you never spend more than you can afford to pay. I literally use it for everything, except purchases overseas, when i use Capital One for its no foreign transaction fees.

[cruisine21]

I cut the AMEX card as retailers don't like it.

 

But I wonder if the FREE travel insurance is worth it anymore. There is a $200 excess for insurance claims and no insurance for current medical condition/s (should you have one). Also when you buy holidays from overseas with your card, there is the international transaction fee that banks are now charging and which can be quite expensive if you pay thousands for your holiday. Once I was overseas, I used the 28 Degree Card with no international transaction fee. However, my friend did cancel her holiday early this year and received $10,000 back from her free travel insurance gold card.

Rosie

The new Mastercard we received covers certain existing medical conditions as long as you were diagnosed over 12 months ago.

Most travel insurance policies have an excess. Especially if you are over 60.

[mr walker]

My bank issued me a Amex cc for 'free' as part of my existing Platinum Mastercard account. As some have said many retailers charge a fee for Amex so I use the MC. Some don't eg supermarkets so I use the Amex and earn triple points on my account. No issues thus far. I am spending the $'s I would have and earning extra points :)

 

I have travel insurance via my MC, but based on lots of stuff I have read on here I am going to double check coverage and conditions, as i never really did that, just worked on the basis of I'm covered by my cc

[Tomo72]

I swap my Amex points every 18 months or so for a $1000 Harvey World Travel voucher.

 

And as the holiday is paid for with a voucher from Amex, we still qualify for free travel insurance.

[SunnyinDubai]

You will find that a lot more retailers accept AMEX cards now. It was not the case a few years ago but not the case now. Some retailers don't accept the card or charge you more if you use the card but i find in those cases, i use my VISA card. In short, if it is not costing you.... I would keep it. :)

[NSWP]

Next time you go to shop or go to book a hotel, check out credit card fees for American Express Card, often 3 or 4%. Way over the top, stick with Visa.

[6andy6]

Have just upgraded my CC to a "Platinum" one (with the free travel ins :) ) As part of the deal, my bank has also issued me with an American Express card. I really have no need for this card and can't imagine why I would want to use it (except that it does pay bigger frequent flyer points than the normal Platinum card.)

 

What say you? Does anybody here use an AMEX card? -- what advantages does it have?? I know that many retailers are loathe to take it as it costs them more.

 

Barry

 

Tbh. I once, about 10 years ago, had an Amex. Binned it. Too few retail places used it. It is, or was, designed more for business or the corporate market than the consumer one.

 

Plus, it always seems to be playing catch up...hence sometimes the better benefits to make up for it.

 

Many places just will not accept it because it is more expensive for a retailer to use than accepting a MasterCard or Visa and you, the consumer will often get slugged more as the retailer often passes on the credit card charge which is around 5% (as against 1-3% for the other two).

[bazzaw]

People have mentioned a CC "charge". Of course , I understand that it costs a "charge" when using a CC to book a cruise, and it also happens if you make an internet airline booking by CC -- plus some places like Telstra charge a small amount to pay your bill by CC.

 

But these crages happen to all CC's. My only experience with AMEX has been in the long past when I was a retailer myself, and I simply didn't accept it. The reason for this at the time was less to do with % costs -- but , if I recall correctly, more to do with when payment to the actual retailer was received. Amex was not a "goer" for me as a retailer and I therefore simply did not take it.

 

However, time moves on - and we all should move on with it. So I am more interested in comments from people with a "current" involvement with AMEX , rather that someone whose experience is 20 years old (like mine) :)

 

Barry

[Kiwicruiser25]

Hi Barry,

I have an AMEX card and wouldn't leave home without it. Most larger retailers accept AMEX cards now.

Myers,DJ's,Big W,Targets,Petrol stations,Post Office,Supermarkets.

The Phone Bill and even with a small percentage charged on this I feel the FF points are worth it for me.

If they don't take AMEX I just use my VISA CARD.

The Frequent Flyer Points certainly add up over time.

I would keep it for sure. :)

__________________

[pkw]

Hi Barry

 

We se our Amex for the f/f points &insurance too and another benefit to us when we pay Celebrity they process the payment in the USA & we never get charged the foreign currency conversion fee that other cards charge.

 

Wherever we can't se Amex we se our visa card.

 

Regards

 

pkw

[Gaznjo]

we have an amex platinum card... make the most of the free insurance ... take advantage of the free night accommodation per year...makes for a nice weekend away...

 

love that we get $100 off our travel for 10000 points we earn... I think now we get 1.5 points per dollar.... we used it only where we don't pay a fee... ie Woollies ( they probably are our biggest expense ), target, petrol....

 

we use travel agents that accept the points redemption and that also don't charge us a fee for using the amex card...

 

we use amex for our onboard charges ( no fee ) and the platinum card also attracts no international fees

[bazzaw]

Hi Barry

 

We se our Amex for the f/f points &insurance too and another benefit to us when we pay Celebrity they process the payment in the USA & we never get charged the foreign currency conversion fee that other cards charge.

 

 

Hi PKW

 

Thanks - That is very interesting. What do you mean by "pay Celebrity" ? -- are you talking about payment of your onboard account or fares?

 

Regards

 

Barry

[pkw]

Hi PKW

 

Thanks - That is very interesting. What do you mean by "pay Celebrity" ? -- are you talking about payment of your onboard account or fares?

 

Regards

 

Barry

 

Hi Barry definitely on the payment of our fares that we booked directly with celebrity Australia - I will have to check the statements for the payment of our onboard account and come back to you and let you know.

 

Regards

 

Pkw

[GCHAN]

People have mentioned a CC "charge". Of course , I understand that it costs a "charge" when using a CC to book a cruise, and it also happens if you make an internet airline booking by CC -- plus some places like Telstra charge a small amount to pay your bill by CC.

 

But these crages happen to all CC's. My only experience with AMEX has been in the long past when I was a retailer myself, and I simply didn't accept it. The reason for this at the time was less to do with % costs -- but , if I recall correctly, more to do with when payment to the actual retailer was received. Amex was not a "goer" for me as a retailer and I therefore simply did not take it.

 

However, time moves on - and we all should move on with it. So I am more interested in comments from people with a "current" involvement with AMEX , rather that someone whose experience is 20 years old (like mine) :)

 

Barry

 

We use Velocity(Virgin Australia) Amex extensively at supermarkets ,garages and wherever there is a limited or no charge associated with it. We have been receiving more frequent flyer points through amex than visa /mc so it has worked well.

 

They have however recently reduced the flyer points on the amex card we use so we are actively looking to see if there are any better deals.

 

We have always just tried to play it smart and only use the amex where it suits us.

[MMDown Under]

People have mentioned a CC "charge". Of course , I understand that it costs a "charge" when using a CC to book a cruise, and it also happens if you make an internet airline booking by CC -- plus some places like Telstra charge a small amount to pay your bill by CC.

 

But these crages happen to all CC's. My only experience with AMEX has been in the long past when I was a retailer myself, and I simply didn't accept it. The reason for this at the time was less to do with % costs -- but , if I recall correctly, more to do with when payment to the actual retailer was received. Amex was not a "goer" for me as a retailer and I therefore simply did not take it.

 

However, time moves on - and we all should move on with it. So I am more interested in comments from people with a "current" involvement with AMEX , rather that someone whose experience is 20 years old (like mine) :)

 

Barry

 

 

Just a comment -

No cc charge with 28 degrees (plus no annual fee)

No cc charge on cruise bookings for my overseas TA

 

Interesting thread because CC conditions/points/benefits/cost change all the time, so it is good to keep up with latest offers.