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AMEX... do I enter this ecosystem ? Pre-approval options available - need some input

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Live4Fishing
Valued Member

AMEX... do I enter this ecosystem ? Pre-approval options available - need some input

So just for kicks I logged into my AMEX "My CreditGuide" report since I still get emails from it with account alerts.  I closed my old Blue Cash Everyday card about a year ago but I can still login to this report.  I clicked the "Check for Pre-Qualified Credit Card Offers" since there's no way I'm not going to take a peek at what's available....  and I'm pre-approved for the AMEX Platinum,  AMEX Gold, and Blue Cash Preferred.    Now... I hadn't been interested in any of these cards but I got to thinking about the AMEX ecosystem for rewards...

 

One of the reasons I closed my old Blue Cash Everday was because the rewards system totally sucked.  When I spent money and earned rewards they went into a "on hold" status for 30 days... and then I had to wait for the next billing cycle for the rewards fo FINALLY post to my account so I could redeem them.   That is THE worst, most ass-backward way of posting points I had ever experienced.  Plus I didn't like the $25 minimum before I could redeem.   

 

Enter my new pre-approvals...    Soooooo...   first question is does AMEX still do this really dumb process of putting points "on hold" then waiting until the next monthly statement before the points post ??   

 

Next questions...   are the AMEX Platinum and AMEX gold worth the AF ??   Any advantages over the Chase Ecosystem ?

AOD Visa Signature - 10K
PenFed Power Cash Rewards - 25K
Chase Sapphire Preferred - 18K
Capital One Savor One - 10K
Simmons Bank Visa Platinum - 7K
PenFed >PenFed Promise Visa - 5K
Chase Ultimate Rewards (AU) - 19K
Chase Ink Business Cash - 4K
Capital One Venture X - 30K
Message 1 of 31
30 REPLIES 30
cashorcharge
Community Leader
Super Contributor

Re: AMEX... do I enter this ecosystem ? Pre-approval options available - need some input

I've never experienced the "hold" you mentioned in the past but admittedly, I wasn't as focused as I am today so perhaps didn't realize. Now, I pay attention...

 

No, my rewards or cash back post about a day after the statement close for the month earned. AND, the special offers they have like "$20 credit each month for X purchase/store/service" posts about 2 days after the charge is finalized when it's earned. So, I'd say they are good about aligning the rewards. 

it really depends on your travel/entertainment needs if the Gold or Plat is worth it. The BCP waives the fee for year 1 (only $95 after) and they've been offering 12 months 0% APR plus a SUB. While profile dependent, there are several who've reported getting both a Charge and Revolver days apart so you can always start with the BCP and go from there...

 

Good Luck

Message 2 of 31
Gollum
Established Contributor

Re: AMEX... do I enter this ecosystem ? Pre-approval options available - need some input


@Live4Fishing wrote:

So just for kicks I logged into my AMEX "My CreditGuide" report since I still get emails from it with account alerts.  I closed my old Blue Cash Everyday card about a year ago but I can still login to this report.  I clicked the "Check for Pre-Qualified Credit Card Offers" since there's no way I'm not going to take a peek at what's available....  and I'm pre-approved for the AMEX Platinum,  AMEX Gold, and Blue Cash Preferred.    Now... I hadn't been interested in any of these cards but I got to thinking about the AMEX ecosystem for rewards...

 

One of the reasons I closed my old Blue Cash Everday was because the rewards system totally sucked.  When I spent money and earned rewards they went into a "on hold" status for 30 days... and then I had to wait for the next billing cycle for the rewards fo FINALLY post to my account so I could redeem them.   That is THE worst, most ass-backward way of posting points I had ever experienced.  Plus I didn't like the $25 minimum before I could redeem.   

 

Enter my new pre-approvals...    Soooooo...   first question is does AMEX still do this really dumb process of putting points "on hold" then waiting until the next monthly statement before the points post ??   

 

Next questions...   are the AMEX Platinum and AMEX gold worth the AF ??   Any advantages over the Chase Ecosystem ?


Since you didn't like the BCE card, you won't like the BCP card.

I'm just guessing here: You don't like American Express, so you still won't like American Express.

Credit Scores: (FICO 8) 850 Experian June 2024, 842 TransUnion May 2024 | (FICO 9) 846 Equifax June 2024
Credit Cards (newest to oldest): NFCU VISA Platinum $25,000 | BECU Cash Back VISA $10,000 | American Express BCE $9000 | Simmons Bank VISA $7500 | Capital One Quicksilver VISA Platinum (PC/upgrade from No Hassle Miles Rewards VISA Platinum) $500
Message 3 of 31
Live4Fishing
Valued Member

Re: AMEX... do I enter this ecosystem ? Pre-approval options available - need some input

@cashorcharge:

Thanks for info. on AMEX rewards posting of points.  Good to know things have changed.  I figured they must have improved or more people would have complained about it.  I hadn't used my old BCE for a couple years and accrued any new points, so I wasn't sure if things had changed.  Sounds like things are pretty standard like most cash rewards cards now days... and that's good news.  AMEX has always had excellent customer serivce...  so it's not like I wouldn't still consider them for a new card.  I just need to decide if my spending habits will justify their AF.  

 

@Gollum:

The only reason I did close my old BCE card was because the of the delay in the posting of earned rewards.  Their customer service has always been excellent... no issues in that area.  I'm glad to hear things are better now.

 

Ironically enough, the next CC I will probably apply for is AMEX Hilton Honors card (either the Surpass or or standard Honors card with no AF).  I'm still open to getting their cards as long as that old system of posting points has changed.  

 

 

AOD Visa Signature - 10K
PenFed Power Cash Rewards - 25K
Chase Sapphire Preferred - 18K
Capital One Savor One - 10K
Simmons Bank Visa Platinum - 7K
PenFed >PenFed Promise Visa - 5K
Chase Ultimate Rewards (AU) - 19K
Chase Ink Business Cash - 4K
Capital One Venture X - 30K
Message 4 of 31
Yankee2
Regular Contributor

Re: AMEX... do I enter this ecosystem ? Pre-approval options available - need some input


@Live4Fishing wrote:

So just for kicks I logged into my AMEX "My CreditGuide" report since I still get emails from it with account alerts.  I closed my old Blue Cash Everyday card about a year ago but I can still login to this report.  I clicked the "Check for Pre-Qualified Credit Card Offers" since there's no way I'm not going to take a peek at what's available....  and I'm pre-approved for the AMEX Platinum,  AMEX Gold, and Blue Cash Preferred.    Now... I hadn't been interested in any of these cards but I got to thinking about the AMEX ecosystem for rewards...

 

One of the reasons I closed my old Blue Cash Everday was because the rewards system totally sucked.  When I spent money and earned rewards they went into a "on hold" status for 30 days... and then I had to wait for the next billing cycle for the rewards fo FINALLY post to my account so I could redeem them.   That is THE worst, most ass-backward way of posting points I had ever experienced.  Plus I didn't like the $25 minimum before I could redeem.   

 

Enter my new pre-approvals...    Soooooo...   first question is does AMEX still do this really dumb process of putting points "on hold" then waiting until the next monthly statement before the points post ??   

 

Next questions...   are the AMEX Platinum and AMEX gold worth the AF ??   Any advantages over the Chase Ecosystem ?


Not 100% sure what you mean here. But you don't see or get your rewards shortly after you spent on the item. (Like Capital One) The rewards won't show until the next statement is cut. (Or even the next, I believe) 

 

I haven't paid that close attention to it, but I've had the BCE (and then converted to BCP) since 2017 and the rewards haven't changed.

 

So whatever you experienced last time, I'm sure it's the same.

Message 5 of 31
bz386
Frequent Contributor

Re: AMEX... do I enter this ecosystem ? Pre-approval options available - need some input

The rewards are pending when the statement cuts. They are released a day after the balance payment posts. That last bit is fairly new. 

Message 6 of 31
Yankee2
Regular Contributor

Re: AMEX... do I enter this ecosystem ? Pre-approval options available - need some input


@bz386 wrote:

The rewards are pending when the statement cuts. They are released a day after the balance payment posts. That last bit is fairly new. 


This sparked my curiousity, I logged into my account and it does look like the rewards are posting quicker. I rememember (and it's been awhile ago) and if were to you look at your itemized rewards for each purchase, it used to be 30 days or so before they would show up. Now I see usage that I did yesterday.

 

Do agree that rewards aren't available to redeem till the statement is paid.

Message 7 of 31
SDMarik
Established Contributor

Re: AMEX... do I enter this ecosystem ? Pre-approval options available - need some input

Everyone here has given some good insight, but I thought I would touch on the AF being "worth it" for Platinum/gold. I have the Platinum and I use it for pretty much everything, the AF is most certainly worth it if you are going to make use of the rewards and the 5x travel multiplier. If you plan on doing a fair amount of travel any time soon, the platinum card will provide you with rewards that FAR eclipse the AF. However, if you don't really do any travel than it's probably not the card for you. The Gold card is a good card if you like eating out a lot as you get a nice multiplier on restaurants an supermarkets (you also get 3x on travel). So if either of those suit your lifestlye then the AF means nothing because you will earn so much more than that in rewards. The Platinum card also has a bunch of other annual statement credits for different things and gives you access to the centurian lounge in airports (which I think is worth the fee alone). Hope this helps!



"When prosperity comes, do not use all of it"
Message 8 of 31
Live4Fishing
Valued Member

Re: AMEX... do I enter this ecosystem ? Pre-approval options available - need some input

@bz386 :

 

What you described here sounds like it confirms what cashorcharge posted.  They have updated / sped up the process for earned rewards to post.   The old process put the your earned rewards "on hold" status for 30 days and not show up until the next billing cycle after.  This could dalay the points getting posted for as long as almost 60 days in some cases depending on the day of the transactions.  I remember having to call AMEX and asking them to take my points "off hold" a couple times... and they were willing to do that.  I also complained about that annoying policy both times.

 

From what you're telling me... the transactions are showing up as activity which will post the next billing cycle....  and the "on hold for 30 days" is no longer in practice...  at least it seems like it from your description.   


AOD Visa Signature - 10K
PenFed Power Cash Rewards - 25K
Chase Sapphire Preferred - 18K
Capital One Savor One - 10K
Simmons Bank Visa Platinum - 7K
PenFed >PenFed Promise Visa - 5K
Chase Ultimate Rewards (AU) - 19K
Chase Ink Business Cash - 4K
Capital One Venture X - 30K
Message 9 of 31
bz386
Frequent Contributor

Re: AMEX... do I enter this ecosystem ? Pre-approval options available - need some input

That's correct. The hold is now only until they receive payment. If you pay before statement cuts and the balance is zero on the statement, the rewards will post a day after the statement is cut. 

Message 10 of 31
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