Got mail stating all Amex cards issued by nab will be cancelled in 5 months
So previously ANZ and now NAB too ending relation with Amex
Any idea on what’s happening
Nab Joins ANZ in Ending AmEx Partnership
jrt2020 on 25/10/2017 - 08:08
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i am grateful with all the amex offers but i just dont understand why they decides to charge much higher than other competitors, causing many shops and users to dislike amex. i think they want to be the apple of credit card? maybe.
So they can offer better points and offers. They hope to attract the high flyers so that merchants will pay the higher card processing fee.
One last shopsmall for the NAB card :)
Change details here: https://www.nab.com.au/personal/banking/credit-cards/manage-…
Amex still issued if you apply prior to 13Nov, but can only be used up to 20Feb
DAMMIT! I only just lost my ANZ amex, and now i'm losing the NAB card too
get the amex issue. free annual fee. nice design (white).
im talking the cheapest amex card available on their website.
If you do that you won't be eligible for any of the bonus points they offer right - as they say anyone with an Amex issued card in the last 18 months is ineligible? So keep that in mind if so
Isn't that with AMEX direct though? (The 18 month rule)
Yeah, my understanding is that if you get the free Amex card, you're locking yourself out of signing up for any other Amex card for the bonus points for 18 months.
yup, earlier lost my AMEX on ANZ, followed by losing my MC on CBA for VISA…
so its VISA, everywhere….
Looks like it, I lost my MC on NAB a few months back and they replaced with VISA.
I have a nab amex I use for nearly everything as I get 3x velocity points. I also have a visa that only gives 1.5 points. What other options are there for cards that give 3x velocity points? Would prefer to have it linked to my nab credit account if possible…
Still got my Amex on Westpac :D Will be closing my Explorer soon before the annual fee kicks in. Going to start the 18 month Amex clock.
I don't have this or any bank AmEx but was wondering what happens to any debt held on the AmEx when they're all cancelled. Do they transfer it to the Visa account?
It’s the same debt in one account, was never separate.
I got this email this morning too. I just got a proper Amex recently though so no sweat!
Merged from NAB and AMEX sever ties.
I got a letter from NAB yesterday saying my AMEX card will be null and void from Feb 2018 as they are no longer offering AMEX.
I'm not too fussed on the bank side of things and using my VISA to get QFF points, but what about all the AMEX promotions like shopsmall and whatnot?
Where can I get a free (or worthwhile) AMEX credit card?
Amex offer a few no-fee cards; just need to watch the interest rates.
I'm not sure if these are valid for the Amex promotions, but should be.American Express Essential Credit Card 14.99% p.a. $0 p.a.
Qantas American Express Discovery Card 20.74% p.a. $0 p.a.
American Express Velocity Escape Card 20.74% p.a. $0 p.a
Tempted to get a card for the deals, you would think Amex would be sending out promotions to get people across. I’m not too fussed about the interest rates as I pay off my cards each month.
I'm unaffected by interest rates of credit cards. =)
Where can I buy some of these NAB and AMEX "severe" ties?
Edit: Fixed as I posted.
You tried.
What's the reason with some on the banks getting rid of Amex cards?
AMEX charge a high transaction fees to merchants, so a lot of places (smaller businesses) does not offer AMEX or they will charge the fee to customers, this upsets a lot of customers. Actually NAB also severs ties with Mastercard as our Company corporate cards have just been switched to VISA.
the main reason is that banks aren't allowed to charge merchants more than the visa/MC fees on AMEX cards that they distribute - hence there is no financial incentive for them to offer them since I assume they would have to pay AMEX some sort of on going cut of the fee taken.
AMEX and alll banks have done this…… You now have to get a Amex Amex, not a bank amex.
Westpac and CBA still offer the Amex card (with Westpac doing it direct from Amex) but you never know how much longer they will do so. This is the latest move by one of the big banks (first being ANZ) as a result of the changes to interchange fees put in place by the RBA, which came in to effect in June 1st this year.
Correct… the changes to interchange fees killed (most) bank amxes, as amex is greedy!
Pretty annoyed, I was getting 3× velocity points on my nab amex now they are shifting me to a visa for 1.5× points. Anyone here know what the best velocity points per dollar card is at the moment?
Just realise the NAB Qantas Signature Card does not come with the complimentary Qantas club lounge passes. They are not very competitive…
RBA rules around surcharges means amex is not as profitable so it's being dumped