AMEX is ripping me off and probably you too.

[Anonymous]

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@UncleB wrote:

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@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.

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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.

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More like looooooooooooong lag.

Dude my cash rewards balance is still zero and I got my card five months ago and got my sign up bonus four months ago.

[newhis]

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@UncleB wrote:

Yep, it's weird. 

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.

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This is from my DW's BCP statement:

*Reward Dollars Earned this period are pending until the minimum due is paid and your account is in good standing.

Remember that they used to have only charge cards, that are not 'in good standing' (you owe them) as soon as they create the statement.

[Closingracer99]

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@smc733 wrote:

This thread really hilights exactly what I have been saying and feeling about Amex for a while.

1. Their customer service is nothing special, unless you have a high-AF card.  On my BCE, I always get offshore service with little empowerment to handle issues/requests.
2. Their rewards are really nothing special, sub-par at best.  Two statement delay, as opposed to at statement closing?  Waiting for the payment to post then a few more days?  Completely backwards, and componded by the fact that they seem to be more strict about coding, and that you can't redeem the entire value... this card just seems stuck in yesterday.
3. Benefits.  Extended warranty, purchase protection, etc... for most people, the Visa Signature and World MasterCard benefits are equally useful to almost everyone.

Amex has a name, it used to be "prestige" and "arriving" in the credit world.  Once that fad wore off for me, I find myself using the card very little due to the reasons listed above, moreso that there's a number of small businesses in my area which don't take Amex compraed to Visa/MC, and even Discover in most cases, which is becoming almost ubuquitous in acceptance.

They're declining, losing Costco and other deals, even the Amex Offers have declined noticably.  No small business saturday, and all of their new offerings are terrible, like the Plenti card.  They're spending more time catering to the sub-prime crowd with things like Bluebird, too.  They're by no means awful, but I think unless there's a compelling benefit for someone to have a specific Amex card, they're probably better of with one of many BofA/Citi/Chase/Barclay Visa/MC cards.

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1: Their customer service is better than: Chase, Bank of America, Discover, Capital one, Barclay's and Might be a tie for me with Citi. I have been using my Citi and Amex cards alsmost exclusivly and the few times I called Amex they were helpful. Even the lady I had contact with during my FR was nice. 

2: Yay you have to wait? I couldn't care less

3: Mastercard benefits along with Visa while might be on the same level remeber it is done by a third party. Amex is done by Amex so it should be easier in theory since Insurance companies typically try to do everything in their power to not help you the customer out.

Amex > Most other banks if your not looking for a simply CB card....