Major Amex clawback related to self referrals

[Shadowfactor]

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@CreditInspired wrote:

A question:

Since AmX is clawing back MR points, what happens if someone already redeemed 50K points and their point balance is now 0? Will they have to pay those points back ($500)? If yes, then this really is going to be a big mess!

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If you’ve redeem your points then I would assume it would become a negative balance against future accumulation. 

If you closed your accounts. I think I’ve seen reports they sent bills out in the past but i’m Not sure as it was before my time in the credit world. 

[Anonymous]

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@NRB525 wrote:
I guess the teaching moment is, if one does a lot of referral bonus, one gets a 1099 from AMEX for perceived value? That alone reduces some incentive.

With the improved regular earnings on Gold and BBP, that makes me wonder at what these folks were expecting to gain. I am glad to see AMEX taking steps to close loopholes. It should help sustain the program for my spend habits. I have 200k MR from legit SUB and earnings, 200k Delta, and 80k UR as I try to burn points from other programs and get focused on fewer.

The Reddit poster getting a 10k Delta self-referral is amusing. Why even bother?

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I had a lot of non-MR referral points received last year.  I did not get an 1099.  And I also got a couple hundred in cash. 

[Blackswizz750]

Thanks for clearing up the credit tightening comment I made earlier. I am just a squirrel trying to get a nut.

[pinkandgrey]

I think a lot of us saw this coming and refrained from doing it for that very reason. 

[DaveInAZ]

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@Shadowfactor wrote:

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@Blackswizz750 wrote:
**bleep**, makes me not want to send referrals to my family. This is part of the tightening from lenders.

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I haven’t seen one data point where they clawed back anything relating to family referrals even a spouse or roommate.

Its a valid referral.

This is from people referring themselves for cards. Amex isn’t going to pay out a welcome bonus plus a referral bonus when you decide to signup for a new account. 

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I wouldn't have thought it would work in the first place, how hard can it be to have software that detects the new card was issued to the same name, DoB & SS# as the referral? I have no sympathy for those who try to game the system like this, Go get 'em Amex. 

Now, off to the grocery store to buy thousands of $$$ in gift cards with my BCP 6% rewards card. . .  just kidding - either I'm too lazy to try to game the system, or it's just easy to do things fairly and honestly. And I'm sure no saint . . .

[longtimelurker]

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@DaveInAZ wrote:

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Now, off to the grocery store to buy thousands of $$$ in gift cards with my BCP 6% rewards card. . .  just kidding - either I'm too lazy to try to game the system, or it's just easy to do things fairly and honestly. And I'm sure no saint . . .

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Amateur hour!   The trick is to buy $$$ in gift cards with someone else's card.  Or even buy groceries....

[DaveInAZ]

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@longtimelurker wrote:

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@DaveInAZ wrote:

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Now, off to the grocery store to buy thousands of $$$ in gift cards with my BCP 6% rewards card. . .  just kidding - either I'm too lazy to try to game the system, or it's just easy to do things fairly and honestly. And I'm sure no saint . . .

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Amateur hour!   The trick is to buy $$$ in gift cards with someone else's card.  Or even buy groceries....

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Dang it! My mind just doesn't seem to think that way, it there some sort of training I can take? Or maybe I should just hang out on Reddit for awhile . . .

[Remedios]

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@DaveInAZ wrote:

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@longtimelurker wrote:

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@DaveInAZ wrote:

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Now, off to the grocery store to buy thousands of $$$ in gift cards with my BCP 6% rewards card. . .  just kidding - either I'm too lazy to try to game the system, or it's just easy to do things fairly and honestly. And I'm sure no saint . . .

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Amateur hour!   The trick is to buy $$$ in gift cards with someone else's card.  Or even buy groceries....

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Dang it! My mind just doesn't seem to think that way, it there some sort of training I can take? Or maybe I should just hang out on Reddit for awhile . . .

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I think this is the best time for self referral...they will never see it coming 

[Brian_Earl_Spilner]

How do I self refer? I just want the rose gold card, not the points, so it's ok.

[Remedios]

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@Brian_Earl_Spilner wrote:

How do I self refer? I just want the rose gold card, not the points, so it's ok.

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Plz leave adults alone.