Amex Self Referral??

[Anonymous]

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Even DoC is reporting how the RAT team is going bath-salts on people who did it, and some are having all of their accounts closed down. Def not worth it for a statement credit or MR points...

[Anonymous]

First of all, allow me to start off by stating, "It's a double edge sword."

I live on these message boards and sadly, like the great advice I've obtained from this site, and others, I have also discovered ways, techiniques and tactics to beat the system. I normally ignore 99% of them, with the exception being the Shopping Cart Trick.

With that said, I offer more evidence that attempting to beat the system, might work for a while, but will catch up with you in the long-run and affect those of us who properly and morally manage our cards .

What am I talking about? 

AMEX is shutting down accounts of people(not all) who "Self-Referred," for sign-up bonuses. IMHO, I believe AMEX shutting down their cards is justifiable, as people like this makes it hard on all of us. Lets, not forget there are tons of YouTube videos, blogs, columns and websites overtly airing these tactics, not only for everyday people to see, but the card issuers themselves, who will set up means to combat these poor tactics, as they should.

It's a double edge sword, because without these tactics being expressed and exposed all over social media, many wouldn't know about certain credit cards, nor rewards, but I have always aired on the side of caution when tempted by these tactics. Whatever happen to doing things the "RIGHT" way?

Think about it, why would you use an under-the-table method to otain credit cards/cash back, reward point, travel rewards and more, only to be caught later and lose it all? I would rather put the work in th right way and don't have to worry about losing all I've gained and better yet, not being "BLACKLISTED" by prime credit card issuers! Is it worth it to use these tactics? I think not.

This is just my honest opinion, I show no ill will towards people who game the system, outside of its affect on me.

Your thoughts?

[Guyatthebeach]

I'm not 100% in agreement on this. I can see Amex shutting down cards if customers are geniunely abusing the sign up bonus, but I also see Amex using this to build their business. I didn't use the referral system. I used te preapproval for two of mine, Cash Magnet and  EDC,  and they are still active. I applied for the Amazon business, and that get's used the most.

Guyatthebeach

[Brian_Earl_Spilner]

Amex's RAT team frequents this forum so things like that don't last very long. I think it's good to stop the abuse because if it gets out of hand, then the huge SUBs will stop. One only has to look at Cap1 as an example of things getting out of control. It got reported here to contact the executive office to get around restrictions and to recon decisions because they don't recon. It blew up here in a short time and now the EO is completely worthless. Even if you have something legitimate, they don't have the ability and will no longer help you.

[Guyatthebeach]

Brian_Earl_Spilner,

You are so right about Capital One. It's been ages since I've any large subs from them. I guess with them having the Walmart cards now, I doubt they would ever need to do a sub again.

Guyatthebeach

[Anonymous]

Well said.

I'm going to use a crazy analogy, but it relevant.

I compare thse abuses to this, I'm a veteran and not only on veteran's Day but other events veterans are offered free meals, like at iHop and more. These tactics are similar to a veteran getting a free meal at on iHop, then driving down the street or across town to get another free meals, that's no in my nature.

[FireMedic1]

This forum is childs play compared to some fourms that dedicate their topics to gaming the system to the max and then some. Wont name them. But ya'll know who I'm talking about.

[Loquat]

This may turn into a highly debated topic as the thread grows so I will kindly ask that anyone choosing to respond, to do so in a friendly and constructive way.  

With that out of the way, I can understand why these lenders are doing what they're doing (Amex in this case) but make no mistake that I'm not a bleeding heart for them either as they stand to gain just as much as they claim to be losing via these tactics.  

Besides, these lenders are LARGE....and they didn't get there by being stupid.  Trust and believe that they have thought of probably most of the tactics that would be exploited by travel/award hackers.  This isn't their first day at it...they know before they launch a card the associated risk involved.  

I take no moral high ground as it relates to what folks do...free will...do as you please and accept the consequences in the event that they happen.  But in the same vein you're not going to find me crying a tear over these lenders as they play dirty too...and like us, they to have to pay a price when they're caught (i.e. Wells Fargo).   Lots of them are without "clean hands" as well.

[Guyatthebeach]

FireMedic1,

You are so right. I'm waiting to see the people that did the Comenity shopping card trick to have their accounts closed any day now.

I read the BECU is now manually reviewing membership applications and loan/credit card apps. I saw where you people were already shut down and had accounts frozen or closed.

Guyatthebeach

[red259]

I dunno I never self referred myself. Nor do I do things like open cards get the SUB and then close them right away trying to get back or avoid the AF and then repeat the practice. People who get burned on that type of thing deserve what happens to them, because its obvious you are abusing the system. Nobody can seriously suggest that these people thought this was a legitimate thing to do. That being said I could care less about lenders. They will stab you in the back if they think there is a nickel in it for them. The game is maximizing your rewards using reasonable tactics.