AMEX Gold Credit Card with 2% Cash Back - It was the best CC while it lasted

[vdimitrov]

I have just received the "good" news in the mail

Thank you for your continued loyalty to American Express I am writing to let you know that your American Express® Gold Credit Card with Cash Back is changing. It's stilt one of, if not the richest Cash Back cards in Canada! You can continue to earn Cash Back on all of your everyday purchases, and there are still no caps on the amount of Cash Back you can earn.

As of February 1, 2011, when your Card is up for renewal, a new $99 annual fee will be charged all your purchases'-to your account. However, with the Cash Back you can earn on all your purchases, the Card can practically pay for itself! Please read the enclosed Important Notice of Changes to your American Express Gold Credit Card with Cash Back for details.

There is no Limit to the amount of Cash Back you can earn each year. The more you use the Card, the more it rewards you. You'll continue to earn a high rate on all purchases any time you use your Card Once you spend over $5,000, you'll earn 2% Cash Back on purchases up to $100,000 - and all purchases are eligible, not just purchases made in specific industries like gas or grocery stores, and not just for a limited time - making it the fastest way to earn 2% Cash Back on all these purchases.' Plus, there are no caps on the amount of Cash Back you can earn Here's how you will earn Cash Back:
• On the first $2,500 charged to your Card, you can earn 0.5% Cash Back
• On the next $2,500 charged to your Card, you can earn 1.0% Cash Back
• On annual purchases over $5,000 up to and including $100,000 charged to your Card, you can continue to earn 2.0% Cash Back

For any amount over $100,000, you can earn 1.0% Cash Back. This new Tier will be in effect for your 2011 rebate period.

It also says if I prefer no annual fee credit card I may wish to consider the Blue Sky Credit from American Express.

I am planning to cancel the card after I get my last cash back rebate with my January statement. Has anybody else received the same mail?

[angel_wing0]

WHATTTTTTTTTTTTTTTTTTTTTTTTTTTTTT?

omg i better not get that.

[ACC-Major]

I have just received the "good" news in the mail

Thank you for your continued loyalty to American Express I am writing to let you know that your American Express® Gold Credit Card with Cash Back is changing. It's stilt one of, if not the richest Cash Back cards in Canada! You can continue to earn Cash Back on all of your everyday purchases, and there are still no caps on the amount of Cash Back you can earn.

As of February 1, 2011, when your Card is up for renewal, a new $99 annual fee will be charged all your purchases'-to your account. However, with the Cash Back you can earn on all your purchases, the Card can practically pay for itself! Please read the enclosed Important Notice of Changes to your American Express Gold Credit Card with Cash Back for details.

There is no Limit to the amount of Cash Back you can earn each year. The more you use the Card, the more it rewards you. You'll continue to earn a high rate on all purchases any time you use your Card Once you spend over $5,000, you'll earn 2% Cash Back on purchases up to $100,000 - and all purchases are eligible, not just purchases made in specific industries like gas or grocery stores, and not just for a limited time - making it the fastest way to earn 2% Cash Back on all these purchases.' Plus, there are no caps on the amount of Cash Back you can earn Here's how you will earn Cash Back:
• On the first $2,500 charged to your Card, you can earn 0.5% Cash Back
• On the next $2,500 charged to your Card, you can earn 1.0% Cash Back
• On annual purchases over $5,000 up to and including $100,000 charged to your Card, you can continue to earn 2.0% Cash Back

For any amount over $100,000, you can earn 1.0% Cash Back. This new Tier will be in effect for your 2011 rebate period.

It also says if I prefer no annual fee credit card I may wish to consider the Blue Sky Credit from American Express.

I am planning to cancel the card after I get my last cash back rebate with my January statement. Has anybody else received the same mail?

Thanks for the good news, you made me feel less worse for missing that deal back then.

[casperr]

I am pretty sure this will apply to all cash back holders, unfortunately.

[Sanchez]

Finally, maybe we stop hearing about this card in any marginally-related-to-credit-card threads.

[angel_wing0]

i m downgrading the card for sure if i get that

[rivet]

So will they downgrade their old Amex Costco platinum card as well, I mean that is up to a 1.5% cash back card after $5000 with maximum $500 cap, do they want to change the old card to the up to 1% "true earning" card?

It is a bit embarrassing for a $99 annual fee credit card to get only 0.5% cash back for the first $2500

[angel_wing0]

So will they downgrade their old Amex Costco platinum card as well, I mean that is up to a 1.5% cash back card after $5000 with maximum $500 cap, do they want to change the old card to the up to 1% "true earning" card?

It is a bit embarrassing for a $99 annual fee credit card to get only 0.5% cash back for the first $2500

who knows?

well amex have converted this card for high-spenders now with that $100 annual fee.

i might really stick with the aspire if thats the case...

[vdimitrov]

I called AMEX right away and the CSR said that it is very odd to receive a mail like this.
Her manager did not know about any changes to the AMEX Gold Card with 2% cash back as well.
I have the letter in hand and it seems pretty official to me, with my name and address, official AMEX envelope, etc.

The CSR asked me to fax her the letter and she is going to investigate and call me back. Weird!

[Edirol]

Scans.

[rems]

I wouldnt be surprised with the fee. I heard they were losing money on this card...

[EPcjay]

I just got my letter.

Man...this blows. Is there any other card from Amex worth getting now?

If I cancel now, do i still get my remaining cash back? I can see from their website, the next "best" thing from them is the TrueEarnings card

[angel_wing0]

I just got my letter.

Man...this blows. Is there any other card from Amex worth getting now?

If I cancel now, do i still get my my remaining cash back?

for no fee? maybe the travel blue.

no...cancel when they start charging u the annual fee which will be next year.

[angel_wing0]

I called AMEX right away and the CSR said that it is very odd to receive a mail like this.
Her manager did not know about any changes to the AMEX Gold Card with 2% cash back as well.
I have the letter in hand and it seems pretty official to me, with my name and address, official AMEX envelope, etc.

The CSR asked me to fax her the letter and she is going to investigate and call me back. Weird!

i doubt the csr will be able do anything, but best of luck!

[consumerPI]

Amex can go EABOD!