Hi
I just got a letter saying the there are changes being made to my rewards program which will take effect from 15 April 2019. The letter says the rewards will increase and I can see in some categories of purchases this appears correct. But the letter also say there are changes to the redemption rates but it is not clear what the actual effect it.
For example the letter says that transfer to 8 airline rewards partner programs will result in 2 membership rewards points and 1 partner-point or dollar value conversion. There are other rules for different programs also. However I have no idea if this represents a reduction in the conversion rates.
My question is if I should transfer all my points before the April next year.
Has anyone worked out what the changes really mean?
As per what theblank said, Amex devalued points from 1:1 to 2:1. A massive loss for everyone, and its begs the question, is Amex worth keeping? Is Amex just another card to burn and churn?
This website, amongst others, have done detailed articles about this, and broken it down so we can all understand the changes.
I received the same letter, and felt it was clear in its explanation of the new transfer rates. I suggest reading the detailed articles on this site, and the many other sites that have reported on the changes.
The letters accompanying my Platinum Charge Card and Platinum reserve Credit Card explicitly state that “we will protect the value of your existing points balance by automatically crediting your account with the same amount of MembershipRewards points that you have at 1:00am AEST on 15 April 2019.”
So, yes, the points will halve in value, but you’ll have twice as many - so no net loss in value.
I have read that this is a targeted offer, and mainly to holders of the Platinum Charge, or Centurion cards, or other ‘highly valued’ customers.
This most certainly is NOT the case for all Amex customers - me included. Im almost certain Amex stated clearly that as a rule of thumb, points will not doubled.
I will be transferring my points prior to April 15, and then closing my card… to show Amex my disappointment in the changes.