Is There Something 'Magic' About Amex?

[KatSoDak]

---

@Anonymous wrote:

---

@KatSoDak wrote:

---

@CreditPuppy wrote:Maybe it is YMMV?  I have applied for 5 tradelines,  several CLI's and have only 1.  

---

One what?  HP?  How can that be if you have applied for 5 tradelines?

---

Amex will often SP existing card members for additional cards.

Often. Not always.

---

I didn't realize individual cards from a single FI were considered tradelines. My mistake. I was thinking he opened 5 cards from 5 different banks.

[CreditPuppy]

Hello,

Sorry so late to reply. Yes, everything on your report is considered a tradeline. If you have multiple cards or LOC's or installments are different tradelines. Though I have 6 tradelines from different FI's without any HP's. Though they ARE store cards.

[HarleyMan2014]

---

@CreditPuppy wrote:

@Anonymous 

Yep, what Allzoero said.  Though, there IS something magical about AmEx - 1 HP for life.  As long as you have an open tradeline with them, all other apps and CLI's are SP.  Oh, and there is the 3x CLI, too.

---

Ha, i just hit my 61 days with my Delta Plat Amex, and just initiated 3x CLI. I got nervous because I got an error through the app, then an error via my web browser on my CPU. Called and they said the request was received, and that I'd know 24-48 hours....so we shall see! 

[DaveInAZ]

---

@CreditPuppy wrote:

@Anonymous 

Yep, what Allzoero said.  Though, there IS something magical about AmEx - 1 HP for life.  As long as you have an open tradeline with them, all other apps and CLI's are SP.  Oh, and there is the 3x CLI, too.

---

Yes there's that, 1 HP for life. But also if you play them right Amex is a money maker, I'm so far ahead with Amex it puts a smile on my face, especially since I've never liked them for a couple things they pulled on me years ago.  I got a Blue Cash Everyday in 2017 for a $250 sign-up bonus (SUB). Upgraded that to Preferred in 2019 for another $250 SUB. I always pay in full, so they never get interest from me, only swipe fees, but since I use the card pretty much only for groceries for 3%/6% rewards they're not profiting on that. Got an Everyday card in 2018 for a $150 SUB, then loaded it up with balance transfers w/$0 fee and 0% for 18 months. When the 0% ended I paid in full and got the Cash Magnet card for $150 SUB, closed Everyday & moved that CL to Magnet and then loaded Magnet for BTs for 15 month. Magnet 0% ends this May so I'll be paying that off and look for a new Amex card I can move the Magnet CL to and then close it. I have a pre-approved offer for Blue Cash Business, so probably that. Thanks Amex, you are "magical".  

[Save-n-Invest]

I phoned Amex in 2015 with a request to pc Blue to BCE. No go. Long looney explanaiton about MR cards and cash reward cards pc prohibition. Rep talked as if it was in the U S Constitution. All other issuers were more than accomodating when I pc'd to cash back cards.  Ok, no problem.

I made a new app for BCE a little while later. Hard pull. Amex reneged on the SUB. I've never received a SUB from Amex nor will I as I have no plans to apply for another card.

Yesterday's mail included an item from Amex. New terms for BCE. Cash rewards cannot be redeemed for gift cards or merchandise as of a certain date. More weird verbiage to be interpreted as one wishes. I phoned for clarification as I thought what is not merchandise? I don't buy gift cards. Rep told me cash rewards can only be used as a statement credit on date certain. I'm good. 

If cash rewards will only be used as a statement credit state that plainly. Why make things subject to interpretation unless there is an attempt at wiggle room?

The rep went quickly to a pitch to pc Blue to Cash Magnet. They are really pushing Cash Magnet. I have DC and QS so no need for a 1.5% card.  Any reason Amex is pushing Cash Magnet so hard? Blue is still an MR card.  Cash Magnet is cash rewards.  1.5% is still puny. 

Now I wait for all the strange things that will occur as a result of that notice. . I'm waiting for Amex to refuse to apply the reward statement credit toward grocery spend telling me that is merchandise. Could be fun here on the site, too.  

If anyone has input positive or negative on Cash Magnet I'd appreciate it.  1.5% doesn't move me. 

[DaveInAZ]

@Save-n-Invest  Sheesh, I've never NOT received a SUB for a new card from Amex, not sure I would app for a any new card without a SUB. They did try that last year when I app'd for Cash Magnet, got the dreaded "No Welcome Bonus for You!" pop-up, and backed out. I then called the # listed for phone applications and the rep assured me if she got that pop-up she could cancel the app, app went through fine with Welcome Bonus. I spent just enough to get the SUB, paid that, and then loaded it with BTs for 15 month 0%. Yeah, Cash Magnet is a terrible card, 1.5% rewards is so yesterday, but then Amex no annual fee cards, especially no AF cashback cards are few & far between. I have two 2% cashback every purchase cards, so that's my minimum. The rep likely pushed Magnet on you as Amex would love to see you settle for 1.5% rewards instead of 3% groceries 2% gas. 

I didn't get that notice (yet) of no merchandise or gift cards for BCE/BCP, but I always do statement credit. I highly doubt Amex would prevent a statement credit claiming it's "merchandise", but wouldn't be surprised at all if they try to force you to use it only against current, unbilled charges instead a partial credit against previous balance. I did decide to just downgrade my BCP to BCE before the AF hits in May, I have over $20k in CLs between Blue Cash & Magnet and don't want to lose those, helps pad utilization when I take advantage of 0% BTs or intro APR.  

[Save-n-Invest]

@DaveInAZ , thanks for the comments. Amex was trying to pc Blue to Cash Magnet not BCE. As for the SUB the kicker for me was the 1k spend to meet the requirement. That's twice the spend required by the normals. I put spend on BCE that would have gone to better cards to meet that requirement. As per usual cs reps had different promises, excuses. Chat advised that it takes 6 months for the SUB to be creditd to the account. Phone reps had different answers/excuses.   Eventually a phone rep told me the SUB was not associted with my account. No reason, just no.

I don't apply for cards frequently. I have what I need. If something attractive becomes available I may consider it. With Amex there is always the hassle factor. I have a personal policy about not buying aggravation. Can't imagine what Amex could come up with that would offset the hassle factor.

[Remedios]

---

@Save-n-Invest wrote:

I phoned Amex in 2015 with a request to pc Blue to BCE. No go. Long looney explanaiton about MR cards and cash reward cards pc prohibition. Rep talked as if it was in the U S Constitution. All other issuers were more than accomodating when I pc'd to cash back cards.  Ok, no problem.

I made a new app for BCE a little while later. Hard pull. Amex reneged on the SUB. I've never received a SUB from Amex nor will I as I have no plans to apply for another card.

Yesterday's mail included an item from Amex. New terms for BCE. Cash rewards cannot be redeemed for gift cards or merchandise as of a certain date. More weird verbiage to be interpreted as one wishes. I phoned for clarification as I thought what is not merchandise? I don't buy gift cards. Rep told me cash rewards can only be used as a statement credit on date certain. I'm good. 

If cash rewards will only be used as a statement credit state that plainly. Why make things subject to interpretation unless there is an attempt at wiggle room?

The rep went quickly to a pitch to pc Blue to Cash Magnet. They are really pushing Cash Magnet. I have DC and QS so no need for a 1.5% card.  Any reason Amex is pushing Cash Magnet so hard? Blue is still an MR card.  Cash Magnet is cash rewards.  1.5% is still puny. 

Now I wait for all the strange things that will occur as a result of that notice. . I'm waiting for Amex to refuse to apply the reward statement credit toward grocery spend telling me that is merchandise. Could be fun here on the site, too.  

If anyone has input positive or negative on Cash Magnet I'd appreciate it.  1.5% doesn't move me. 

---

What's so difficult about *merchandise*

In addition to statement credit, rewards we were able to redeemed for GC or actual merchandise (wallet, t-shirt, whatever). 

If you never redeemed for GC or merchandise, I don't understand how is that something negative about Amex?

[Save-n-Invest]

---

@Remedios wrote:

---

@Save-n-Invest wrote:

I phoned Amex in 2015 with a request to pc Blue to BCE. No go. Long looney explanaiton about MR cards and cash reward cards pc prohibition. Rep talked as if it was in the U S Constitution. All other issuers were more than accomodating when I pc'd to cash back cards.  Ok, no problem.

I made a new app for BCE a little while later. Hard pull. Amex reneged on the SUB. I've never received a SUB from Amex nor will I as I have no plans to apply for another card.

Yesterday's mail included an item from Amex. New terms for BCE. Cash rewards cannot be redeemed for gift cards or merchandise as of a certain date. More weird verbiage to be interpreted as one wishes. I phoned for clarification as I thought what is not merchandise? I don't buy gift cards. Rep told me cash rewards can only be used as a statement credit on date certain. I'm good. 

If cash rewards will only be used as a statement credit state that plainly. Why make things subject to interpretation unless there is an attempt at wiggle room?

The rep went quickly to a pitch to pc Blue to Cash Magnet. They are really pushing Cash Magnet. I have DC and QS so no need for a 1.5% card.  Any reason Amex is pushing Cash Magnet so hard? Blue is still an MR card.  Cash Magnet is cash rewards.  1.5% is still puny. 

Now I wait for all the strange things that will occur as a result of that notice. . I'm waiting for Amex to refuse to apply the reward statement credit toward grocery spend telling me that is merchandise. Could be fun here on the site, too.  

If anyone has input positive or negative on Cash Magnet I'd appreciate it.  1.5% doesn't move me. 

---

What's so difficult about *merchandise*

In addition to statement credit, rewards we were able to redeemed for GC or actual merchandise (wallet, t-shirt, whatever). 

If you never redeemed for GC or merchandise, I don't understand how is that something negative about Amex?

---

RESPONSE

Interpretation. My experience with Amex since getting the BCE/BCP has been interesting. If cash rewrds will only be applied as a statement credit state that plainly. 

All prior Amex experience was with other type of rewards. I never redeemed then. No issue until I attempted to redeem MR for an item billed on that statement. Too long to go into here but the punishment lady acted as if I was taking her firstborn. 

There have been other issues with rewards such as BCP only giving 1% for grocery spend with the explanation that the 6k ceiling was exceeded. There was nothing near 6k in that reward year. Another Amex nutty February thing. I phoned for a correction. Rep reviewed account and agreed that the 6k ceiling was not exceeded. She went on to tell me grocery rewards will only be 1% "because it was in the system". Stupid on steriords.

I phoned a few weeks later. BCP was on ice since the 1% nonsense. I was referred to another party who advised the issue will be investigated. The investiation will take at least two months. How long does it take to tally January and part of February spend?  

BCP remained on ice. Eventually I got a phone call advising the issue was corrected. Grocery will be 6% until the actual 6k is exceeded not the pretend 6k. I *upgraded* BCP for BCE. 

Considering all the mistakes Amex made on my cash reward card if it was random at least one should have been in my favor. 

Lots of weirdness with Amex rewards. None with other issuers.  ymmv.

[summerterrace]

I think that the you tube gurus pushing the "value" of AmEx have created an illusion that somehow AmEx is the holy grail of cards.  AmEx should be weighed like any other card:  does it meet the need you have? Is the sign up bonus and multipliers worth the annual fee?  Is there a no annual fee downgrade path?  Are the credits to offset the annual fee actually something you would normally use?