Amex getting tougher on SUBS

[Anonymous]

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@NRB525 wrote:
Well said. These are bonuses, a gift from the banks. They are not an entitlement, and can be reduced or stopped when the banks decide it is no longer profitable.

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While true. People are only apping with Card X, for a certain SUB. If not for said SUB, they may not have gone with Card X in favor of Card Y. 

So now, due to some misc. reason they feel like not honoring it, you're stuck with that card or canceling it. But you've already wasted a HP, or at the very least a score hit for the new accnt. Plus the hit for doing it again for Card Z to actually get the SUB you're after. 

Would be nice to know this up front TBH, whether you're eligible or not. It would certainly suck to rack up spend and points on said card, only for them to be nullified later. When it could have been put on a differnt card where that wasn't an issue.

[Anonymous]

Boo.

Looks like Blispay is the last card on my radar for now.  Was going to app some more AMEX in the next year, but mainly for the SUBs.

[NRB525]

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@Anonymous wrote:

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@NRB525 wrote:
Well said. These are bonuses, a gift from the banks. They are not an entitlement, and can be reduced or stopped when the banks decide it is no longer profitable.

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While true. People are only apping with Card X, for a certain SUB. If not for said SUB, they may not have gone with Card X in favor of Card Y. 

So now, due to some misc. reason they feel like not honoring it, you're stuck with that card or canceling it. But you've already wasted a HP, or at the very least a score hit for the new accnt. Plus the hit for doing it again for Card Z to actually get the SUB you're after. 

Would be nice to know this up front TBH, whether you're eligible or not. It would certainly suck to rack up spend and points on said card, only for them to be nullified later. When it could have been put on a differnt card where that wasn't an issue.

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I'll repeat, many here are simply mis-understanding the intent of AMEX. If the applicant researches card X they should have a good idea of what card X is best used for. That is clearly shown in the websites and marketing material AMEX puts out, no? So when applicant goes for card X, it's going to be at least partially aligned with what applicant wants, and with the SUB, that takes out any "pain" of the HP ( which is imaginary anyhow but that's another thread ).

And to repeat again, the applicant is going to get the SUB, unless this is the third AMEX application in 4 days. It is the later behavior of the applicant, either by closing the card too soon, running charges to get the SUB then returning thousands worth of goods after the SUB posts. If the applicant is just using the card normally, there will be no issue.

[MrDisco99]

How do you claim to know Amex's intent with the policy when they've made no effort to spell it out?

[gdale6]

Obfuscation of fact is a banks best friend. They are there to make profit for themselves and their shareholders its to their advantage if one needs a degree to understand the T&Cs. Profit typically comes on the backs of the stupid.

[NRB525]

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@MrDisco99 wrote:

How do you claim to know Amex's intent with the policy when they've made no effort to spell it out?

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I am not sure how much clearer they can make it. The SUB is the offer for the app, and is awarded after meeting spend requrements. If the applicant makes legitimate spend within the period, they get the bonus. Full stop.

If, the next month, the applicant returns all the purchases, AMEX has the option to claw back the bonus. 

If, six months later, the applicant closes the card, AMEX has the option to claw back the bonus. 

How the the heck is AMEX going to tell a specific applicant, on the day of the app ( or as many want to see, the day before the app) “we know you will return $3,000 worth of purchases in month 4” or “We know you will close the card in month 7” so “we don’t want your business” and then specify “No bonus for you!!” 

If an applicant has opened 3 cards in two months, and apps card four, don’t be surprised if, on making the spend, the bonus on that last card is not given. 

If you don’t like the uncertainty, don’t app the card. If you think the card works well in your spend or travel patterns, and it’s not your third card in a very short time, there should be no issues. 

I have apped or upgraded 9 AMEX card versions, closed one, in a 5 year span. I do not expect to have any issues as I close a few and adjust my AMEX portfolio through the end of this year. 

[Anonymous]

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@gdale6 wrote:
Obfuscation of fact is a banks best friend. They are there to make profit for themselves and their shareholders its to their advantage if one needs a degree to understand the T&Cs. Profit typically comes on the backs of the stupid.

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@gdale6 wrote:
Obfuscation of fact is a banks best friend. They are there to make profit for themselves and their shareholders its to their advantage if one needs a degree to understand the T&Cs. Profit typically comes on the backs of the stupid.

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Agreed. I laugh whenever someone complains they were charged a $12.50 overdraft protection fee at Bank of America, or a $35 overdraft fee at Wells Fargo. The customer complains about it on the internet and plays dumb like they didn't know those fees exist, and/or they complain that they're so high, even though the fees and how much they are can be found by looking on the bank's website. 

[Anonymous]

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@NRB525 wrote:

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@MrDisco99 wrote:

How do you claim to know Amex's intent with the policy when they've made no effort to spell it out?

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I am not sure how much clearer they can make it. The SUB is the offer for the app, and is awarded after meeting spend requrements. If the applicant makes legitimate spend within the period, they get the bonus. Full stop.

If, the next month, the applicant returns all the purchases, AMEX has the option to claw back the bonus. 

If, six months later, the applicant closes the card, AMEX has the option to claw back the bonus. 

How the the heck is AMEX going to tell a specific applicant, on the day of the app ( or as many want to see, the day before the app) “we know you will return $3,000 worth of purchases in month 4” or “We know you will close the card in month 7” so “we don’t want your business” and then specify “No bonus for you!!” 

If an applicant has opened 3 cards in two months, and apps card four, don’t be surprised if, on making the spend, the bonus on that last card is not given. 

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I'm not really sure you understand the point. Returning purchases after meeting the minimum spend has nothing to do with what we're talking about. 

Anyone who reads AMEX's new terms and conditions for spending bonuses knows AMEX now has every right to deny a bonus, when before, they were a half way moral bank that gave them out because that's what they advertised, along with terminoloy "this bonus is not available to you if you've previously had this product," which was more straight forward to the average customer.

I'll give you an example. What if a bank said, "we may or may not charge you 21% interest on those purchases immediately after they post," while advertising a grace period of no interest for at least 25 days. I'm sure you would be confused too. 

[CreditCuriosity]

[sarge12]

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@Anonymous wrote:

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@gdale6 wrote:
Obfuscation of fact is a banks best friend. They are there to make profit for themselves and their shareholders its to their advantage if one needs a degree to understand the T&Cs. Profit typically comes on the backs of the stupid.

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@gdale6 wrote:
Obfuscation of fact is a banks best friend. They are there to make profit for themselves and their shareholders its to their advantage if one needs a degree to understand the T&Cs. Profit typically comes on the backs of the stupid.

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Agreed. I laugh whenever someone complains they were charged a $12.50 overdraft protection fee at Bank of America, or a $35 overdraft fee at Wells Fargo. The customer complains about it on the internet and plays dumb like they didn't know those fees exist, and/or they complain that they're so high, even though the fees and how much they are can be found by looking on the bank's website. 

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I find it kind of sad when I hear of anyone paying for an overdraft. I try to have empathy, but writing checks on an account for more than is in the account is hard for me to understand...even harder to understand that I also did that when I was young. Sometimes I think my brain did not fully develop until I was 35 years old. I was lucky to live through some of the really stupid stuff I did when young...well at least I never ate tide pods, but likely only because they did not exist then.