Amex OPEN card holders are eligible to earn a $50 statement credit for making at least two purchases totaling $50 or more at OPEN savings merchants between October 15 and December 15, 2009. OPEN Savings merchants include FedEx, Hertz, and Hyatt among others. See opensavings.com for a full list of participating merchants.
A while ago, it was publicized that Amex was offering to pay select customers to close their accounts. That program, dubbed “Simplify Your Finances,” was supposedly targeted towards cardholders who Amex felt were unlikely to meet their obligations.
Now, this thread on FT reports that Amex is taking the unusual step of offering statement credit to select individuals to lower their credit limit. From the sound of it, the OP is someone who keeps his line in use specifically to avoid a credit line reduction, and not because he is unable to pay their balance. If true, this news potentially represents an interesting trend, and highlights the drastic lengths to which Amex is willing to go to cut its credit exposure.
When you either join or auto-renew your Costco membership using your American Express Card®, you can get an additional 2 months of membership for free.
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Until September 22, 2009, you’ll receive 50% more Starpoints when you transfer your Membership Rewards points to Starwood Preferred Guest. While the normal transfer rate is 3 MR points for 1 Starpoint, under the current promo, the rate is 2 MR points per Starpoint. Points must be transferred in increments of 1,000.
Issuers are getting creative to introduce new profit centers to replace the old ones being lost due to the new Credit Card Accountability Responsibility and Disclosure Act. According to Bloomberg, the latest example comes from American Express.
Beginning in September, Blue and Blue Sky cardholders will cease to accrue their reward points if they miss a payment. After the account is made current, cardholders will need to pay a $29 fee for each month’s worth of points they wish to recover.
In a separate move, Amex has been sending out notices to increase late fees, the go-to APR, and cash advance rates to a wide swath of customers.
The Credit Card Accountability, Responsibility and Disclosure Act, signed earlier this year, is already paying dividends for consumers. As the WSJ reports, Amex and Discover cardholders should soon be receiving notices that they will no longer be charged fees if they exceed their credit limit. This move was spurred by the credit card act that expressly prohibits issuers from levying fees unless the consumers have explicitly requested to surpass their limit and have indicated they are willing to pay to do so.
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Here’s a heads up for Starwood Preferred Guest credit card holders who are music lovers: an exclusive release of concert tickets to some of the hottest summer shows is scheduled for Wednesday, July 8, at 11am Eastern time.
A very limited number of tickets for shows from Dave Matthews Band, Depeche Mode, Jonas Brothers, Keith Urban, Nickelback and U2 will be available for the price of 5,000 or 10,000 Starpoints per pair. Shows will be available in a variety of major cities and venues. Given that this announcement was targeted solely to FlyerTalk members, this should represent a better than average chance to score some in-demand tickets.
Tickets will be available at SPG.com/hotshows (Via FT)
New DirecTV subscribers can earn a $200 American Express gift card when using a Blue from American Express®, Blue Sky from American Express or Blue Cash® from American Express Card to sign up. This offer ends July 7, 2009. To take advantage of this offer, visit amexbluedeals.directv.com or call 1-866-258-5693. (Via FW)
If you are an AAA member, you could also try combining this offer with the $10/month AAA discount, although its terms specify that it is not combinable with other discounts, promotions or coupons.
The American Express Daily Wish is back beginning today. In what amounts to a contest or sweepstakes, American Express offers its card holders the chance to purchase selected goods at highly discounted prices. From electronics and fashion to travel packages, offers go on a first-come, first-served basis, so you have to be both quick and lucky.
Details can be found at dailywish.amexnetwork.com.
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The Consumerist recently relayed the story of a college student who, like many Amex cardholders, just got his credit limit cut. Unhappy to take the hit to his credit score, the student tried, without much initial success, to get customer service to reinstate his credit limit.
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