Credit Cards

[AMEX] Platinum/Biz Plat fee increases to $799 at 2023/9/26

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  • Mar 28th, 2024 11:10 am
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speedyforme wrote: 06/01/2017 EV-019121 Removal of points awarded in error 0 -50,000 -50,000
Elfwood wrote: I would be very interested to see what AMEX can do if you have a significant negative MR points balance and cancel your card.

They cannot make you spend to earn it all back to 0 balance. Could they force a redemption at 1 cent/point - and charge a credit balance on your account to replace the negative MR points?
ace604 wrote: IMO ... worst case is they permanently remember your negative balance and always and forever reinstate that as your starting balance on any new cards.
It's FAIR after all. I wonder about the other posters who got extra 75K x 3 (?) and transferred out

Topping up AMEX MR will be hard for sure, repaying (at 1 cent) is weird too

I think worst case is BAN by AMEX Canada to never get another card = no more churning or welcome bonus
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Is there a maximum number of bonus MR points you can receive within a year? Is it per card or in total?
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colezy9 wrote: Is there a maximum number of bonus MR points you can receive within a year? Is it per card or in total?
Don't know what the heck you are asking. Can you clarify and be more specific?
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colezy9 wrote: Is there a maximum number of bonus MR points you can receive within a year? Is it per card or in total?
colezy, if you're asking about the referral points, it's basically 15 referrals per calendar year, or 9 for the Biz Plat MR card (special case). So for a Biz Plat it's 9x25K=225K, and for the Plat it's 15x15K=225K, Biz Gold it's 15x10K=150K and Gold it's 15x5K=75K. It gets complicated when MR accounts are merged though, so I'm not sure if Amex loses track and you get "unlimited" borders bestowed on your account. Referral-Hounds can better respond to this latter point. Same 15 referrals per year applies to the SPG, Airmiles, SimplyCash, Aeroplan Plus cards.

As for an upper limit on the maximum points earned per year by spending, I don't recall. I've never treaded in those deep waters.
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ace604 wrote: IMO ... worst case is they permanently remember your negative balance and always and forever reinstate that as your starting balance on any new cards.
My peanut thoughts on scenarios when it comes to a negative MR balance - some good and some really bad:

1) They do nothing and simply close the account (best outcome)

2) They withdraw MR points from a concurrently opened MR account.

3) If no other MR cards opened, maybe they keep you on file, and upon your next new MR card they re-link your older MR account to the new one.

4) Banned from opening future Amex cards, which for some people may be tolerable, but not for serious churners since they are near the top of bonus providers in this game.

5) before you can cancel (and even after you cancel) they could put the card account into a negative (owing) balance at a factor of 1ccp to 1.25cpp (or more?). So for eg., 50K MR would result in a $500-$625 card balance, which you are responsible to pay even if the card account is closed. If you choose not to pay and force Amex to report it as a 30/60/90 day late payment, this will be a bad pock mark to carry around in your credit file for years to come.
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bizee-bee wrote: My peanut thoughts on scenarios when it comes to a negative MR balance - some good and some really bad:

1) They do nothing and simply close the account (best outcome)

2) They withdraw MR points from a concurrently opened MR account.

3) If no other MR cards opened, maybe they keep you on file, and upon your next new MR card they re-link your older MR account to the new one.

4) Banned from opening future Amex cards, which for some people may be tolerable, but not for serious churners since they are near the top of bonus providers in this game.

5) before you can cancel (and even after you cancel) they could put the card account into a negative (owing) balance at a factor of 1ccp to 1.25cpp (or more?). So for eg., 50K MR would result in a $500-$625 card balance, which you are responsible to pay even if the card account is closed. If you choose not to pay and force Amex to report it as a 30/60/90 day late payment, this will be a bad pock mark to carry around in your credit file for years to come.
Ya, (4) is Jerry's "worst case" which I agree is worse than my (3) worst case.
(2) I assumed wasn't the current situation for said poster and would be like a subset of (3) ... basically they take all the MR they can from "you" as it stands today on all your accounts combined and then going forwards keep track of your MR debt.

I don't think they can convert MR to $ against your will :) (even if it is negative MR)
I think (5) is unlikely if not impossible or even illegal.
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bizee-bee wrote: colezy, if you're asking about the referral points, it's basically 15 referrals per calendar year, or 9 for the Biz Plat MR card (special case). So for a Biz Plat it's 9x25K=225K, and for the Plat it's 15x15K=225K, Biz Gold it's 15x10K=150K and Gold it's 15x5K=75K. It gets complicated when MR accounts are merged though, so I'm not sure if Amex loses track and you get "unlimited" borders bestowed on your account. Referral-Hounds can better respond to this latter point. Same 15 referrals per year applies to the SPG, Airmiles, SimplyCash, Aeroplan Plus cards.

As for an upper limit on the maximum points earned per year by spending, I don't recall. I've never treaded in those deep waters.
Thank you, that's the info I was looking for.
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I have met spending for business plat, gold, and personal gold.
My spouse met spending for business and personal gold.

We still have a lot of spending to do. What's the next one to apply for? My spouse is hesitant to apply for business plat now as I have just paid the annual fee for it less than 3 months ago.

Should I look at personal plat? But I have about 8000 spending within the next 3 months, personal plat wouldn't help.
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datapoint:
did a selfie to personal gold today ... did not get instant approval ... for the 1st time with amex ....
(may be i just did a selfie to biz gold 1+ wk ago ... ?)

edit: turns out reason was: supplemental user must 19 or older ...
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vipjn wrote: I have met spending for business plat, gold, and personal gold.
My spouse met spending for business and personal gold.

We still have a lot of spending to do. What's the next one to apply for? My spouse is hesitant to apply for business plat now as I have just paid the annual fee for it less than 3 months ago.

Should I look at personal plat? But I have about 8000 spending within the next 3 months, personal plat wouldn't help.
Personal Plat requires $3000. Why not consider an AMEX SPG card. refer your wife after you receive yours for 50,000 pts between you.
I'd love to write history... in advance.
AMEX Biz Plat 75K AGAIN! | Plat 60K | Biz Gold 40K | Gold 25K | SPG 20K
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ValueHunter999 wrote: datapoint:
did a selfie to personal gold today ... did not get instant approval ... for the 1st time with amex ....
(may be i just did a selfie to biz gold 1+ wk ago ... ?)

edit: turns out reason was: supplemental user must 19 or older ...
so I guess lie about your cat's birthday?
POLL: How frequent is your RRSP-matching?
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Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
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ace604 wrote: so I guess lie about your cat's birthday?
there went $50 ...

ran out of supplemental user to add to my personal gold application ... my dog is only 3 yrs old ... :)
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ValueHunter999 wrote: there went $50 ...

ran out of supplemental user to add to my personal gold application ... my dog is only 3 yrs old ... :)
That's perfect - you forgot to adjust for dog-years ... 2014 birthday, adjusted for dog-years ... 1996!
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Plastiq: Pay any bill with credit card for 0-2.5% fee (help meet min spending and keep old cards active!)
Rewards program transfer times (e.g. SPG->Aeroplan, Marriott->SPG, Amex MR->SPG...)
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has anyone received the welcome bonus of the biz gold when they reach $5000 exactly?

I have reached exactly $5k today ... not sure if i need to put a few more dollars over $5k to trigger the welcome bonus ... :) ...
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ValueHunter999 wrote: has anyone received the welcome bonus of the biz gold when they reach $5000 exactly?

I have reached exactly $5k today ... not sure if i need to put a few more dollars over $5k to trigger the welcome bonus ... :) ...
someone i know from an online forum completed the $5K spending. the prompt churner that he is, he will post on the forum if he gets the welcome bonus... i will let you know then.

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amitdi wrote: someone i know from an online forum completed the $5K spending. the prompt churner that he is, he will post on the forum if he gets the welcome bonus... i will let you know then.

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it is so very kind of u sir ...

LOL ...
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ValueHunter999 wrote: has anyone received the welcome bonus of the biz gold when they reach $5000 exactly?

I have reached exactly $5k today ... not sure if i need to put a few more dollars over $5k to trigger the welcome bonus ... :) ...
Yes, exactly $5k has been enough for me in the past to trigger bonus (as recently as May 2017).

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