- Green Member
- Posts: 16
- Joined: Mon Feb 27, 2012 9:00 pm
- Location: Valley village, ca
That's something Amex initiated a few months back. Essentially, if you got the card before Nov 5, you'll still recieve 6% cashback from groceries without any cap until your next aniversary. Nov 5 and beyond, the cap takes place right away.
The reason why Amex placed a cap is because many people would buy gift cards at grocery stores, making a good chunk of profit.
For example, a person would buy $500.00 visa gift card pay 5.95 to activate it, but would still get a $24.00 profit from the 6% cash back.
I understand the reasoning on Amex's part, but I wish they would raise the cap to at least $10,000 or so.