Anyone else considering cancelling their AMEX Qantas Discovery card to open up space in the future for bigger AMEX issued cards?

Zaenille on 24/07/2017 - 16:34

So AMEX has recently (or it's been a while) changed their bonus points requirements for their cards, where you are not eligible if you are already holding ANY of their credit cards.

I believe you also need to have an 18 month gap between last holding an AMEX card before being eligible for sign up bonuses.

If I cancel now, I will be able to take advantage of new sign up bonuses in 18 months' time. Disadvantage is, I will have one less AMEX card for AMEX offers (shop small $10 off $20, HN $100 off $300 or similar deals).

Thoughts?

Financial

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Comments

  • iceshadow on 24/07/2017 - 16:51

    That's exactly what I did back in Feb, cancelled my AMEX Qantas Discovery card in anticipation of signing up again in 18 months for another round of bonus points/cashback (or whatever promotion AMEX is running in the future).

    Agree that you will no longer be able to use the AMEX offers but to make myself feel better about that I opened up a Coles credit card when they had the 0% on purchases for 15 months promotion and put all my spending on that.

    • Zaenille on 24/07/2017 - 22:06
      +1

      What's the benefits with the Coles credit card? Did you take it mostly for the 0% on purchases for 15 months?

      • iceshadow on 24/07/2017 - 23:06

        Pretty much that + earning fly buys points.

  • starburstyellow on 24/07/2017 - 17:37

    You could always get a Westpac Altitude Black which provides amex and a Global mastercard (+80K QFF). Though not sure if you qualify for Amex Offers, just from the other Amex website (name escapes me)…

    • Zaenille on 24/07/2017 - 18:34

      Already on Westpac Altitude Black and will have to cancel that in the next couple months so I don't pay the annual fee :)

      I've scoured through the ANZ Qantas FF black too.

      • starburstyellow on 24/07/2017 - 19:06

        Haha fair enough. Where to next, Qantas issued card for 60k?

        • Zaenille on 24/07/2017 - 21:59

          I was thinking the Westpac $200 cashback card with $400 spend first before moving onto the next qantas card. I had a hard time finishing my $2500 expenditure in 3 months for my ANZ rewards card (paid my internet for 11 months lol), so I don't think I'm ready for another $2000+ spend card. :(

        • starburstyellow on 24/07/2017 - 22:51

          @Zaenille: oic! I just paid off my health insurance haha.

        • Zaenille on 24/07/2017 - 22:53

          @starburstyellow: What's next? I could stock up on woolies/coles gift cards but I'm cautious about buying too many. Haha.

        • Spending2Much on 25/07/2017 - 09:21

          @Zaenille:
          I didn't think gift cards counted? One form of credit for another?

          Looking at ways to utilise the minimum spend requirements in the allocated time.

        • Zaenille on 25/07/2017 - 11:30
          +1

          @albanyson: Oh, that's sad. I thought it would work. Thanks for the heads up though.

          Edit: Yep, double checked T&C's. Gift cards don't count.

  • lizzle on 24/07/2017 - 21:33
    +2

    I did exactly what icedshadow did, except that I also got a bonus 20,000 points with the Coles Mastercard ($100 in Flybuys dollars). The Amex offers have been pretty crappy lately imo, so I don't feel like I'm missing out on too much.

    • Zaenille on 24/07/2017 - 22:01
      +1

      You're right, I haven't seen any of the shop small offers recently or other big ticket items. :/ Maybe I should let my discovery card go as well?

  • rgr on 24/07/2017 - 22:10

    are you able to keep the AMEX points if you cancel the card? I have an AMEX explorer at the moment with 102k points. What happens if I cancel my AMEX for the same reasons as you OP??

    • Zaenille on 24/07/2017 - 22:13

      My Qantas Discovery card just accumulates Qantas points, so I'll keep my QP when I cancel the card.

      As for your explorer card, I'm not sure. I haven't read up much on AMEX's own points system. Maybe someone else can help?

    • tuvz on 25/07/2017 - 20:05

      Pm'd you

  • shuffle1 on 25/07/2017 - 00:20

    I cancelled my Amex a few months ago (had it a long time, and it didn't come with any bonus points) precisely because it was making me ineligible for these offers. I should have done this before the 18-month rules were tightened up. But like others I didn't want to sacrifice the amex credit offers, but decided it was worth sacrificing. 18 months sounds like an eternity to wait.

    • Zaenille on 25/07/2017 - 00:40

      18 months does seem pretty long, doesn't it? :/ But 18 is better than never.

      Did you have other amex cards when you cancelled that amex?

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