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@Gunnar419 wrote:
@kimjks2003 wrote:So I just got this from the mail today.
So basically from this letter, it looks like they are not offering us TE Card holders any replacement. So I decided to give them a call (the number in the letter) and ask all the questions that bother me. (I made two calls to make sure I get the most information from different AmEx Card Specialists). Below are what I gathered from these two calls:
Call 1
- Continue monitoring the post for mails from American Express because there will be more coming.
- Existing Costco TE Card members will be offered a replacement card and all the account information will be retained/grandfathered.
Call 2
- In December/January a new "Big Product" will be unveiled which is touted to be replacement for existing TE card holders.
- Existing Costco TE card holders are not gonna be let go.
- The replacement card will grandfather the account info from the Costco TE Card.
- Only the account number and the plastic will be changed. But all other including account age and history shall be retained.
- Not a new application. (THIS ONE I RE-ITERATED MORE THAN ONCE)
- TE Cards cannot be changed right now because it is a Partnership Card. (I tried to ask If I can change it to Plenti now)
- "We don't want to let go of even one of our card members."
- Still accepting applications for Costco because they will be converted to new product after post-December.
Okay so you guys be the judge on what I got from their team and you can also try calling them. But from the looks of it, us TE card holders should not be worried because they are preparing to launch a new product to replace the Costco TE Card. Anyway, I shall keep checking my mails for anything that comes up from AmEx! I love AmEx and I really don't want to lose my only AmEx card!
That's great news, if the CSR knew what he/she's talking about!
I just got off an online chat where the CSR wouldn't say one thing about whether there'd be a replacement card or not. Just standard lines about "we want to keep our customers" and "we'll be communicating with you as time goes on."
Exactly the reason why I decided to talk to two different "specialists". I hope these are not just canned responses. But i'm going to keep it positive and trust what they say. Hopefully, come December we'll be holding a new cards from them.
That would be really nice if they can just offer either of those two. Anyway, i'm just happy that I won't be losing my account with them. And hopefully, next year I can PC whatever card they're giving us to one of their in-house cards.
@kimjks2003 wrote:So I just got this from the mail today.
So basically from this letter, it looks like they are not offering us TE Card holders any replacement. So I decided to give them a call (the number in the letter) and ask all the questions that bother me. (I made two calls to make sure I get the most information from different AmEx Card Specialists). Below are what I gathered from these two calls:
Call 1
- Continue monitoring the post for mails from American Express because there will be more coming.
- Existing Costco TE Card members will be offered a replacement card and all the account information will be retained/grandfathered.
Call 2
- In December/January a new "Big Product" will be unveiled which is touted to be replacement for existing TE card holders.
- Existing Costco TE card holders are not gonna be let go.
- The replacement card will grandfather the account info from the Costco TE Card.
- Only the account number and the plastic will be changed. But all other including account age and history shall be retained.
- Not a new application. (THIS ONE I RE-ITERATED MORE THAN ONCE)
- TE Cards cannot be changed right now because it is a Partnership Card. (I tried to ask If I can change it to Plenti now)
- "We don't want to let go of even one of our card members."
- Still accepting applications for Costco because they will be converted to new product after post-December.
Okay so you guys be the judge on what I got from their team and you can also try calling them. But from the looks of it, us TE card holders should not be worried because they are preparing to launch a new product to replace the Costco TE Card. Anyway, I shall keep checking my mails for anything that comes up from AmEx! I love AmEx and I really don't want to lose my only AmEx card!
My speculation is that AMEX will offer a card called SimplyCash and the front of it will look exactly like the Costco TE. Doesn't anyone else find it unusual that the TE has no co-branding on the front of the card? So all you'd need to do is change the back of the card and you'd have a standard AMEX.
As for what that product would be like, that's anyone's guess. It could have a similar rewards structure, but that doesn't really make it stand out much. Or maybe they could offer rotating categories and go up against Freedom and Discover It. Who knows?
The new card has to be better than 321 reward.
So to throw in another "Specialist Response" variable in the mix, I called them again and I pretty much got the same response except this one told me three things that stood out:
This just fuels up my excitement since I really want to PC my Costco TE to the BCE. I don't shop much in Costco now so all I really want is to just retain my account with AmEx.
However, I remember from one conversation with a card specialist that the reason they can't PC the existing TE Card to an in-house card is because of the contract that AmEx have with Costco. She's saying that the account must remain active so they can't PC it. So this makes me question what the other three specialists said. If the account has to remain active to comply with Amex-Costco Contract, are they going to add another line of credit for the "replacement" that they are cooking up and just grandfather the account info? I'd like to think the replacement route is 100% accurate but it's all just very confusing.
I predict TE will transition to a 7-11 cobranded AmEx with Slurpee Rewards!
Got my TE 11/14 and no CLIs probably due to no statements cutting since 3/15. So, I don't give a ratzass what amex does. I welcome Citi taking the portfolio.
I am UNimpressed by those who are impressed by plunking down an amex for payment.
@Anonymous wrote:I predict TE will transition to a 7-11 cobranded AmEx with Slurpee Rewards!
Got my TE 11/14 and no CLIs probably due to no statements cutting since 3/15. So, I don't give a ratzass what amex does. I welcome Citi taking the portfolio.
I am UNimpressed by those who are impressed by plunking down an amex for payment.
As long as you pay for that 10 gallon drum of cinnamon, who cares how it's paid for. Just as long as they load it in your car for you.