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AMEX is ripping me off and probably you too.

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lexrjSD
Regular Contributor

AMEX is ripping me off and probably you too.

I have the AMEX Blue Cash Preferred since 2012 on which I spend aprox. 6K a year on the 6% cashback category. That would net me aprox. $360/yr, however, I never bothered to calculate that to the teeth until this year when I got my year end summary. To my surprise, after crunching the numbers for the year of 2015 I was short about $70 on cashback. After contacting AMEX they verified the discrepancy but still need to contact the "Market Team" to act upon their mistake which I'm hoping to hear from them soon.

So here is the heads up for everyone with this card, CHECK your cashback thoroughly if you don't want to leave money on the table for this crooks!

I will also be re-checking all my previous years which will be a pain because I have to manually download monthly statements as they dont have a better way to do it, convert to spreadsheets and run the numbers.

WALLET: Amex BCP 25K | Barclay Arrival Plus 27K | Chase Reserve 20K |
Amex SimplyCash 50K

FICO: EX 812 | EQ 815 | TU 815
Message 1 of 33
32 REPLIES 32
UncleB
Credit Mentor

Re: AMEX is ripping me off and probably you too.


@lexrjSD wrote:

I have the AMEX Blue Cash Preferred since 2012 on which I spend aprox. 6K a year on the 6% cashback category. That would net me aprox. $360/yr, however, I never bothered to calculate that to the teeth until this year when I got my year end summary. To my surprise, after crunching the numbers for the year of 2015 I was short about $70 on cashback. After contacting AMEX they verified the discrepancy but still need to contact the "Market Team" to act upon their mistake which I'm hoping to hear from them soon.

So here is the heads up for everyone with this card, CHECK your cashback thoroughly if you don't want to leave money on the table for this crooks!

I will also be re-checking all my previous years which will be a pain because I have to manually download monthly statements as they dont have a better way to do it, convert to spreadsheets and run the numbers.


I'm not saying you're wrong, but just remember that there's a relatively long lag for cash rewards to show up on the BCE/BCP cards.  My own cash rewards seem to be around two months behind. 

 

Depending on when your statement falls, your 'effective' year-end date might not fall exactly where you would logically think it would, and would probably not line up exactly with Amex's year-end summary, either.

 

It's annoying, but I just figure as long as I eventually get the rewards I won't worry too much about it.

Message 2 of 33
Rebuilding69
Established Contributor

Re: AMEX is ripping me off and probably you too.

2 months behind?

 

Good God!




Message 3 of 33
UncleB
Credit Mentor

Re: AMEX is ripping me off and probably you too.


@Rebuilding69 wrote:

2 months behind?

 

Good God!


Yep, it's weird.  Smiley Frustrated

 

It doesn't show up until the next statement, and even then it won't show up online as 'available' until usually 2-3 weeks after that.  With my non-Amex cards the reward balances will update online before updating on the statement, but this is just the opposite. 

 

I used to think the date the rewards became available to redeem was dependent on when I paid the bill, but I've since ruled that out. 

It's just slooooow.

Message 4 of 33
Blodreina
Established Contributor

Re: AMEX is ripping me off and probably you too.

Could part of the issue be how Amex codes some of the stores you shop at?  If I recall, they have a rather narrow definition of what constitutes a "supermarket."

Message 5 of 33
Anonymous
Not applicable

Re: AMEX is ripping me off and probably you too.


@UncleB wrote:

@Rebuilding69 wrote:

2 months behind?

 

Good God!


Yep, it's weird.  Smiley Frustrated

 

It doesn't show up until the next statement, and even then it won't show up online as 'available' until usually 2-3 weeks after that.  With my non-Amex cards the reward balances will update online before updating on the statement, but this is just the opposite. 

 

I used to think the date the rewards became available to redeem was dependent on when I paid the bill, but I've since ruled that out. 

It's just slooooow.


+1

 

They sure take their sweet time. If a statement cut, then you make a purchase that will get you $100 cashback, you then have to wait for the current statement to cut, then wait for the next statement to cut, and then wait about one to two weeks. It's a bit baffling, but the upside is that you get those surprise,where in the hell did that money come from sometimes Smiley Very Happy

Message 6 of 33
NRB525
Super Contributor

Re: AMEX is ripping me off and probably you too.


@Falere wrote:

Could part of the issue be how Amex codes some of the stores you shop at?  If I recall, they have a rather narrow definition of what constitutes a "supermarket."


^This.

 

Before really getting into the weeds of the timing of the cash back (I am seeing similar delays of reporting with EDP and PRG) one should verify that all the stores one expects are "Grocery stores" are, in fact, in the eyes of AMEX, Grocery Stores, and not Warehouse or other type of store.

 

In many cases, those stores that sell groceries are not coding as Grocery (or in some cases even gasoline) on the AMEX network. This applies to Hilton AMEX as well, any sort of grocery or gas bonus that AMEX offers, one must be skeptical until it is actually seen coded as such on your statement.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 7 of 33
Anonymous
Not applicable

Re: AMEX is ripping me off and probably you too.

Yeah the BCP/BCE are REALLY weird with Cashback. I have the card, but am really only keeping it open at this point to buffer my util. Good luck with AmEx, i've always found their customer service to be less than stellar.

Message 8 of 33
Mattopotamus
Frequent Contributor

Re: AMEX is ripping me off and probably you too.

The delay with points/rewards posting is terrible. I also see the 2 months behind that others have mentioned. I guess that is why I was shocked when I started using the double cash card. They are pretty immediate.
Message 9 of 33
Anonymous
Not applicable

Re: AMEX is ripping me off and probably you too.

Good to know! I mean I have a ED AMX but I bet tis the same for all of their reward cards? 

 

I also wonder if my Discover IT card fors the same thing. Never really checked. I just take it as it comes! Smiley Happy

Message 10 of 33
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