AmEx Ultimate Card Renew or Not Renew???

thomalfa on 19/10/2020 - 11:15

Hi Folks,

Just wondering for those who owned an Amex Ultimate card, we all know that the annual fee $450 is useable as a travel credit, but unlikely to be used until who knows when. Will you extend the card???

Let say, you got the card from last year and had paid the fee and supposed you bought a ticket for last April 2020 and used the credit but unfortunately the world went wild and all Qantas flight tickets got refunded incl the travel credit.

However, now you got the last year fee plus a new cycle bill to pay the fees is on the way. Will you willing to extend???
Knowing if you cancel your card now, the last year fee paid will be lost.
P.s you can not use both fees to buy a single ticket, only can do separate tickets.

What would you do? extend or cancel???

I guess some OZB might owned the card and probably did enquiry.
Do you being offered any other options??? Some sharing would be appreciated.

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Comments

  • Luminary on 19/10/2020 - 11:22

    I forgot to cancel earlier in the year so now I have $450 x 2 to use. I'll probably just book some local flights back home (Melb) in the distant future and then cancel my card. Sort of assuming I'll still get either AMEX or Qantas travel credits if I had to cancel but most likely would only be changing flight dates if any changes are required.

    • thomalfa on 19/10/2020 - 12:52

      I've thought of getting a domestic flight but there is a risk of getting infected by the virus. Such a dilemma

  • pkjames on 19/10/2020 - 11:55

    If one is still worrying about fees of CC then you are not really into the game of points. AMEX QF is a very good card but I'd say the Explorer is a much better card for general miles accumulation.

    • thomalfa on 19/10/2020 - 12:46

      $450 is a lot of money to invest… considering no bonus spending points and travel credit that no further firm date can be used…

    • lgacb08 on 26/10/2020 - 11:37

      Points game is over for now, expect it will be next to worthless in 2 years time.

  • FW190 on 19/10/2020 - 14:11

    I only have the Platinum Edge and I will be cancelling next month.

    mostly due to the points devaluation last year, now, the points I earn barely cover the annual fees, transferring to airlines seems pointless as well, as who knows what the FF world will be like once COVID is over.

    the useless travel credit doesn't help either, at least in previous years, you could spend it on some restaurants or experiences instead, but the Amex Travel website doesn't seem to have that option anymore, only flights/accommodation/car hire.

    tried to twist Amex's arm in the live chat, but apparently new government new regulations won't let them offer any incentives for keeping the card?

    will be switching over to the Essentials card for shop small and other cash back offers.

    still had a good run I guess, I now have over 200k of points in my Asia Miles account, 2020 was going to be my big holiday year, but you all know what happened………

    • thomalfa on 19/10/2020 - 15:19

      I felt for you mate… I was in the same shoes… I had my holiday planned and now all to the bin.

      The worst is that we thought would be beneficial to start with so I and my Mrs get the cards one each, end up we are looking to waste $900 fees from last year. Who knows when this circus will end…

      Bleeding hard here…

    • blueyez on 23/10/2020 - 14:46

      At least you went with Asia Miles, I've funnelled everything into Velocity… :(

      • FW190 on 23/10/2020 - 22:05

        ouch! sorry to hear that.

        although I really don't have any bragging rights either, latest news suggest Cathay seems to be going down the drain as well…….. maybe I should redeem my points for 50 toasters before they go broke lol

        • blueyez on 23/10/2020 - 23:25

          I tried to desperately redeem my points for some headphones on the final night of velocity redemptions and it failed. Hopefully I can use my points for domestic flights… In addition to all the Virgin Australia complimentary flights I need to use up via linked credit cards =/ it's a nightmare living in Vic right now lol

  • conan2000 on 19/10/2020 - 14:13

    I had a different AMEX, but cancelled it a couple of months back. I get better points rates on another credit card, and figured I'd just cancel my AMEX so I can make use of a new sign-up bonus when they become useful again.

  • Gelato on 19/10/2020 - 18:45

    Do you intend to fly with qantas? I’m wondering if you can book something with your AMEX travel credit before your next fee kicks in, and then cancel the flight with qantas to get a travel credit which will expire at a later date.

    Just my thought, haven’t gone through the T&C in details

    https://www.qantas.com/au/en/travel-info/travel-updates/coro…

    I don’t think it’s worth paying another year of $450 just to keep your existing travel credit. Too many uncertainties in terms of when int’l travel will resume and how much are the flight tickets gonna cost when they resume

    • thomalfa on 20/10/2020 - 08:45

      I have the same thought…

      was told that used too much more flexible with the travel credit and these days only usable for qantas flight…

      it's not worth to invest another $450, with that money can do a lot…

  • Choc0 on 20/10/2020 - 10:57

    they will allow a free downgrade to a zero fee card. Handy if you want to continue reaping the benefits of statement credits

    • thomalfa on 20/10/2020 - 11:46

      yeah… but I already owned their discovery before getting an ultimate card. This caused me to unable reap further the bonus sign up points… sigh… now looking to waste last year fee paid…

  • endolphin on 21/10/2020 - 13:32

    No Shop Small this November?

    • thomalfa on 21/10/2020 - 13:36

      not sure… but just had one ended in august… probably will again

      • ilubbargains on 22/10/2020 - 14:04

        Hopefully the August campaign was amex's contribution towards stimulating retail spending in light of covid. We'll find out in 9 days whether there's the usual November shop small campaign. Fingers crossed :)

        • thomalfa on 22/10/2020 - 14:13

          we'll see in a week… if they do, I hope this time the deal better be $20 cashback $10.
          Most retailers up their min spending to $20.

        • flawlessvictory on 22/10/2020 - 16:07

          The fact that the Shop Small website says:

          "A big thank you to everyone who took part in Shop Small. 2020 was a big year for Shop Small."

          doesn't give me hope for a round 2.

  • blueyez on 23/10/2020 - 14:44

    Cancel it and get another card when you need one… to re qualify for bonus points it's an 18 month wait on Amex - David Jones Amex is an alternative with extra bonus points until 1st November if you wanted an Amex to use whilst waiting 18 months (if you want to churn / earn bonus points later)

    I'm still holding onto a Velocity Amex until it is clearer regarding travel outside of Vic as I don't want to lock in anything until borders are open. But will cancel as soon as I'm able to confidently book a flight. Very annoying as I wanted to cancel it ASAP as 18 months is a long wait to re qualify for points…!!

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