Is dealing with Amex getting too risky?

[Anonymous]

I am becoming hesitant to continue to use my Amex Gold, which has been my much-used daily driver since the revamp. It just seems too risky to have 10s of thousands of MR points riding on the whims of poorly designed algorithms. My latest "joy" is to be denied a 10K transfer to ANA because of "an attempt to sell or transfer to someone else" which is just made-up bollocks, later changed to "review to verify all transactions are eligible".

I have a high organic spend and do not do MS (unless you count the odd purchase of Amazon GCs at Whole Foods along with groceries) so I am sure it will be fine, but I really do not appreciate being "accused" of things I have not done or Amex giving me problems. I have 30k points pending on the latest statement alone, and am really starting to wonder whether I am taking too big a risk when Amex can potentially close my cards, freeze my MRs and do as they please at any time without any repercussions for them and without any wrongdoing on my part.

Then again, maybe that is the risk I have to take in return for the rewards of free business class travel...

[Anonymous]

This sounds unusual.  Haven't heard anything like this except for users who aggressively MS or someting similar.  Have you tried calling in to get a handle on what the problem is?

From everything I've read, users who might be in jeopardy of risking their Amex relationship are usually one of these:

1) Heavy bonus chasers with no other spend on the cards

2) Heavy MSers

3) Bust Out Fraud Risk

[Anonymous]

I tried SM with a CSR but (s)he didn't mention anything about a flag on my account. No other correspondence from Amex either other than the online ANA transfer being auto-denied for the above reasons.  I am continuously paying down on my account and always have a low closing balance ($20 on the last one with spend above $10k). The Gold charge card is my only Amex card and it is only 3 months old.

Now, given that I do not trust that Amex will behave I try to sweep my MR points out of there when I get them so perhaps there is mutual mistrust for that reason...

[Anonymous]

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@Anonymous wrote:

Now, given that I do not trust that Amex will behave I try to sweep my MR points out of there when I get them so perhaps there is mutual mistrust for that reason...

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No, they couldn't care less how quickly you liquidate your points, I always do this as soon as i can.  There is some other detail that is raising a flag, not sure what it could be though.  Perhaps something in your overall credit file, but this is just speculation.  

[Anonymous]

I recently was denied the SUB on my Amex Gold despite never getting the pop up during the application (go figure). If I never brought it up again to the CSR, I would have assumed I was eligible for it. Amex is definitely cracking down on alleged churners thats for certain. Its a shame because I really do like this card.

I do have until the 30th to cancel my card and get my AF refunded which I am still on the fence about.

[Anonymous]

Hey,

It could be because you don't have a relationship with Amex (only 3 months) and, as they don't know your about your spending habits (as you mentioned that you're waiting for 30k in one statement - heavy spending) that could have caused a red flag. Maybe if you had the Platinum card (which is more "aimed" towards people with heavy spending habits) this wouldn't happen (this is me just thinking here).

If you got the card then got the SUB super fast and transferred the points out of the Amex system, that could also have caused a red flag.

[NRB525]

OP, compare the name on your ANA Frequent Flyer account? Is that EXACTLY the same as your name on your AMEX account?

The Gold is a charge card. You are not helping your FICO score any by frequently paying. Just let the balance due rest for the statement and let autopay take care of it by the due date.

The 3 months new account is probably also a factor. You don’t need to be jumpy or concerned with AMEX, just keep paying the statement balance by the due date each month.

[K-in-Boston]

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@NRB525 wrote:
OP, compare the name on your ANA Frequent Flyer account? Is that EXACTLY the same as your name on your AMEX account?

The Gold is a charge card. You are not helping your FICO score any by frequently paying. Just let the balance due rest for the statement and let autopay take care of it by the due date.

The 3 months new account is probably also a factor. You don’t need to be jumpy or concerned with AMEX, just keep paying the statement balance by the due date each month.

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+1  Unless you're applying for a loan product where the lender uses a credit scoring algorithm from 25 years ago that uses highest ever balance as the credit limit on NPSL cards, there's zero need to pay a charge card off much sooner than the due date.  That also gives you up to 56 days of "float."  Certainly double-check that your ANA account is properly linked.

I don't think dealing with Amex is at all risky.  They've seen the majority of my spending for the past 16 years.

[iced]

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@Anonymous wrote:

I am becoming hesitant to continue to use my Amex Gold, which has been my much-used daily driver since the revamp. It just seems too risky to have 10s of thousands of MR points riding on the whims of poorly designed algorithms. My latest "joy" is to be denied a 10K transfer to ANA because of "an attempt to sell or transfer to someone else" which is just made-up bollocks, later changed to "review to verify all transactions are eligible".

I have a high organic spend and do not do MS (unless you count the odd purchase of Amazon GCs at Whole Foods along with groceries) so I am sure it will be fine, but I really do not appreciate being "accused" of things I have not done or Amex giving me problems. I have 30k points pending on the latest statement alone, and am really starting to wonder whether I am taking too big a risk when Amex can potentially close my cards, freeze my MRs and do as they please at any time without any repercussions for them and without any wrongdoing on my part.

Then again, maybe that is the risk I have to take in return for the rewards of free business class travel...

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There's risk in everything. American Express is taking a risk by floating you money for a month. You're taking a risk by putting eggs into their basket. They're under no obligation to keep your accounts open and available as long as you don't do anything wrong, just as you're under no obligation to use for them for purchases.

It's just business, and I wouldn't sweat any of it. If you do things within the boundaries of the rules, it should all be fine in the end. The last thing you want to do is take such things personally. They certainly aren't.

If you want to work with an entity that will never accuse you of anything and will unconditionally trust you, get a dog. You certainly won't find a bank that would do the same.

[Anonymous]

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@iced wrote:

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If you want to work with an entity that will never accuse you of anything and will unconditionally trust you, get a dog. 

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I must be doing something wrong then!  (OK, she's a chow, known to be a little on the independent side of things)