Upcoming Amex Changes

 
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Reminder - AMEX reward points
devaluation countdown: 15th April 2019


"I hate seeing good points get wasted - if you don't act now, you will lose HALF" - Steve

Any transfers need to be done by Sunday 14 April.

What's happening?
AMEX is changing their rewards program, it impacts future points earning, but most importantly it impacts on your EXISTING membership reward points. (This applies to both your personal and business Australian AMEX-issued cards.)

To AMEX's credit vs other banks - this was announced Nov 18, 5 months ago, they’ve sent letters, emails and alerts upon logging into your Amex account online.
https://www.americanexpress.com/au/credit-cards/membership-benefits/rewards/rewardschanges/index.html
 
A general example covering most AMEX credit cards & AMEX corporate cards:

  • You have 500,000 AMEX points.

  • Before 15th April, they'll exchange 1:1 to 500,000 (or for Explorer 4:3, 375,000) airline points (eg: Singapore, Virgin, Cathay etc)

  • After 15th April, they exchange 2:1 to 250,000 airline points

  • You could lose up to 250,000 airline points (worth $8,750 in premium fare value)


What's excluded: AMEX cards which directly earn Qantas points or Velocity points have already been transferred.

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Are your points are 'protected'? (ie: The metal cards - AMEX Centurion, AMEX Platinum Charge, AMEX Business Platinum Charge cards - Please confirm with AMEX, don't assume. Every client has different circumstances)

The official word is high-value clients would have their EXISTING POINTS DOUBLED to equalise the changes.

  • If you are, you would already have been advised (via their personalised letter*, or via phone, or other means).

  • If you can’t remember, or if you haven’t heard anything - You should confirm with AMEX (phone this week), don't assume.

  • These additional points may not be added instantly, it will be adjusted by 15th June 2019. Meaning you may only have access to 'half' your points between 15th April and 15th June. So, if you have travel plans, depending on how many excess points you have - you may need to move your points now have enough points to fly.

*This is what the letter would have said: 
As a valued "__________" Member and in recognition of the redemption rate changes, we will protect the value of your existing points balance by automatically crediting your account with the same amount of Membership Rewards points that you have at 1:00am AEST on 15 April 2019. For example, if your balance is 100,000 points we will credit an additional 100,000 points. The additional points will be added into your account by 15 June 2019. There’s no need to call us or enrol.

 
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Our recommendations: DO SOMETHING, GO SOMEWHERE

Transfer your points and use them to fly.

  1. Decide on where you want to travel

  2. Speak to our team to discuss the best flight options

  3. We can start looking for your flights + Advise on points transfers

Points expiry dates:

  • Qantas and Virgin = the whole balance of points expiry can be extended indefinitely with account activity within 18mth for Qantas, 24mths for Velocity timeframe.

  • Singapore, Cathay, Emirates have 3 year expiry

If you want our help with your next flight booking 

Learn more about our Flight Finder Concierge (Fees, how it works)

If you have any questions: steve@iflyflat.com.au 

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TOO COMPLICATED?  DON'T UNDERSTAND?

You are suited for our POINTS PLAN MEMBERSHIP  
For the price of a cup of coffee/day, we'll get you onto the best points structure, and ongoing advice to keep you flying in the front.

 
Steve Hui