Amex PRG 15k Points Bonus Getting Nerfed

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popamode72
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Amex PRG 15k Points Bonus Getting Nerfed

Postby popamode72 » Thu Oct 02, 2014 9:58 am

http://thepointsguy.com/2014/10/amex-premier-rewards-gold-losing-15000-point-spend-bonus/

Just saw someone post a thread about this on MyFico and thought it would be relevant to make a note of it here too. Discuss.
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Vattené
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Postby Vattené » Thu Oct 02, 2014 10:07 am

Interesting. In the explanation from Amex at the link they say it is because the majority of cardholders don't meet the spending threshold. If this is the true reason (and not some PR spin to reassure everyone that, really, it's not that big of a deal), I would expect them to offer some other beneift as a trade off.
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djrez4
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Postby djrez4 » Thu Oct 02, 2014 11:43 am

Indeed - when they messed with the Platinum benefits, they tried, with mixed success, to add new benefits to offset the losses. No similar trade with the PRG. I don't have one, but I could imagine it being a bummer for some folks.
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Berk
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Postby Berk » Thu Oct 02, 2014 12:29 pm

Vattené wrote:Interesting. In the explanation from Amex at the link they say it is because the majority of cardholders don't meet the spending threshold. If this is the true reason (and not some PR spin to reassure everyone that, really, it's not that big of a deal), I would expect them to offer some other beneift as a trade off.


Of course it is a valid reason from Amex's viewpoint. They give the card to just about anyone who applies based more on FICO scores and less on actual yearly income/assets. Amex is bending to competition from other high end issuers. It is all about the marketability of their products. Just look at all the products they now offer. 40 years ago they were a charge card only company. now 20 somethings can get all kinds of Amex products - and they do. Amex wants that business. They ain't your grandfather's charge card company anymore.
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Vattené
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Postby Vattené » Thu Oct 02, 2014 12:37 pm

From Amex's viewpoint, the fewer people that meet the threshold the better. They get to advertise a nice big bonus on one of their higher end cards. Who cares if a bunch of twenty somethings have it? They just don't get the points. Maybe a majority of people really don't meet it, but it still must have been getting to be too big of an expense to pay out those points to the ones that do.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

luvbullmarkets
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Postby luvbullmarkets » Thu Oct 02, 2014 12:46 pm

Yesterday evening I called and downgraded my PRG to Green. Largely because I don't travel or spend near enough to warrant the $175 A/F. The downgrade netted me a savings of $80 in A/F costs. Without losing any of my accumulated MR points.
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CarefulBuilder14
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Postby CarefulBuilder14 » Thu Oct 02, 2014 1:20 pm

One more reason to close the PRG, although I was a lot more upset with the previously announced cuts to roadside assistance for Gold, Green, and others.

I hadn't planned to keep the PRG but did want to PC to a Gold.
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Omarperez48
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Postby Omarperez48 » Fri Oct 10, 2014 12:05 pm

I'm just glad I'm getting mine this year being my first year with this card. I guess I can't complaint for the extra 15k points I earned on top of the points I got by spending the $30k.
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Naa Laa
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Postby Naa Laa » Fri Oct 10, 2014 12:38 pm

Omarperez48 wrote:I'm just glad I'm getting mine this year being my first year with this card. I guess I can't complaint for the extra 15k points I earned on top of the points I got by spending the $30k.


Try calling in and you might be grandfathered for 2015 to earn extra 15K points on $30K spending.

mdl28
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Postby mdl28 » Fri Oct 10, 2014 1:05 pm

That was one of the main reasons I liked and kept this card. Ill being waiting patiently to see what is put in its place....
MDL

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