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 American Express® Cards, Membership Rewards™

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SUSOptiplex330
post Sep 11 2009, 08:18 AM

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QUOTE(vin_ann @ Sep 10 2009, 10:48 PM)
i mean online purchase. like buying GSC movie tickets, pay Air Asia tickets... etc etc
i wish i have the details, but its hard to find.

annual fees shd be waived. but  i dun know the condition.
*
I finally went down to Great Eastern office and got details of this OCBC-GE card and here are the details.

Payment of GE insurance 3% with maximum of RM450 a year
Retail rebate is tiered starting from 0.5% and once above RM20,000, it is 3% with a maximum of RM3000 a year.

Annual fee is RM138 and only 1st year free.

And this morning, I found this:
http://www.ocbc.com.my/personal-banking/Ca...m?bcid=M5_C1_S4

What i don't quite understand is these are not considered retail purchases:
Recurring Payment/Auto Debit transactions, Easi-Payment Plan (EPP), Balance Transfers, Cash
Advance, Call-for-Cash, Dial-a-Cash, Dial-a-Cheque,

This post has been edited by Optiplex330: Sep 11 2009, 08:22 AM
SUSOptiplex330
post Sep 11 2009, 08:31 AM

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QUOTE(winner @ Sep 11 2009, 08:21 AM)

This cc gives good rebate for GE premium but small percentage of rebate for other transactions, and no reward points will be given.
Purchase over RM20,000 is 3%. At that rate, there is no need for anymore reward points. So if you want to buy big ticket items up to RM100,000, this is very enticing indeed because it is giving you back RM3000.
SUSOptiplex330
post Sep 11 2009, 09:01 AM

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QUOTE(winner @ Sep 11 2009, 08:51 AM)
I guess you don't really understand the tiered system.

Just use the higher rebate rates of Plat cc as an example (note that rebate rates for Gold cc is lower).

First RM1 - 6000 = 0.5%
Subsequent RM6001 - 20,000 = 1%
Thereafter RM20,001 and above = 3%

If you spend RM100k, your rebate will be:
First RM1 - 6000 = 0.5% ---> RM30.00
Subsequent RM6001 - 20,000 = 1% ---> RM140.00
Thereafter RM20,001 and above = 3% ---> RM2,400.00
TOTAL REBATE FOR RM100K SPENDING ---> RM2,570

The card is only good if you spend more than RM20k per month. Ask ourselves, how many customers spend this kinda amount monthly? biggrin.gif With this, you'll know how evaluate this cc.
*
Purchase over RM20,000 is 3%. At that rate, there is no need for anymore reward points. So if you want to buy big ticket items up to RM100,000, this is very enticing indeed because it is giving you back RM3000.


1. I used the term "over RM20,000". That means anything below RM20,000 is not 3%
2. I said if you have to spend RM100,000 on a big ticket item like cars etc, you get back RM3000. Big ticket item like car is not something we buy every month.


This post has been edited by Optiplex330: Sep 11 2009, 09:03 AM
SUSOptiplex330
post Sep 11 2009, 09:23 AM

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[quote=winner,Sep 11 2009, 09:05 AM]
[/quote]
The rebate is not RM3000 as what you think. See my above calculation using the tiered system.
*

[/quote]

If I were to split hair, this is what I would do to buy a once-every-few-year big ticket item.

RM6000 @ 0.5% = 30
RM6001-20,000 @ 1% = 140
RM94,333 @ 3% = 2829

So I would swap RM114,333 on the card to get a total rebate of RM3000 on that Toyota Camry or house I am aiming for. Now the question is, would Toyota and housing developer accept cc as payment?
SUSOptiplex330
post Sep 14 2009, 10:38 AM

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QUOTE(Gen-X @ Sep 13 2009, 11:33 PM)
Below is the amount charge by AMEX while I was at Universal Stuidios (AMEX gets discount for transactions) on 12 Aug 2009. All 3 charges have different fees using my Gold Charged anc Credit Cards  rclxub.gif


Card              USD      RM        RATE              FOREX    Ratio
AMEX      29.58    105.51    3.56693712    3.51186  1.015683176
AMEX      49.11    176.83    3.600692323  3.51186  1.02529495
AMEX CC  83.19    298.56    3.588892896  3.51186  1.02193507
*
Keeping in mind there are always variables....

According to Bank Negara, the indicative exchange rate for 12-Aug-09 is 3.5245. Seems like all 3 transaction of yours is on the high side, with about 400 to 800 base point higher. For bank draft, we can get about 200 base point higher. With Mastercard, not uncommon to see about only 100 points higher or even -ve points (must be due to intra-day fluctuation).

Certainly food for thought.
SUSOptiplex330
post Sep 15 2009, 06:09 PM

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QUOTE(WoodStock @ Sep 15 2009, 03:53 PM)
hi all..
i am using Amex gold credit card now.. i have some other Maybank credit cards also. total combined credit limit is 8k

well, i am going to buy a few laptops, for me and friends with it, on 1st October.. hopefully can win that the Longines Watch or Delsey Expandable Cabin Case..

but my credit limit is just 8k.. the laptops i am going to buy cost 9k++

is it possible to call Amex to increase my credit limit to 10k??

*i have ready cash to pay for the balance next month, just to collect point for credit card. since i saw this Amex promotion, so decide to delay my buying until 1st of Oct, stand a chance to win the Longines Watch or Delsey Expandable Cabin Case.
*
Go ask AMEX whether it is possible.......

You deposited RM2000 into your credit card account. Together with your existing RM8000, would you be allowed to spend RM10,000?
SUSOptiplex330
post Sep 19 2009, 07:12 AM

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QUOTE(winner @ Sep 19 2009, 04:42 AM)
Since I obtained Amex gold cc early this month, my Amex was so far rejected by both cashier counter and kiosk at 2 different Petronas stations, Dome Cafe in Bangsar Shopping Centre, Damai Service Hospital in KL and a property developer office in KL. sad.gif
*
Insurers not accepting it: Prudential, AXA and Great Eastern. And I suspect, many many more insurers not accepting it.


This post has been edited by Optiplex330: Sep 19 2009, 07:13 AM
SUSOptiplex330
post Oct 2 2009, 09:42 PM

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QUOTE(guanteik @ Oct 2 2009, 07:37 PM)
@cute_boboi
I would like to comment on your post that Maybank AMEX AF is waived if you spend average RM500 a month in a year. All you need to do is call them up to ask for AF waiver...
*
Having to call them sounded like begging to me so personally, I will just cancel it and get the truly free AMEX version instead.

Many years ago, I canceled my AMEX charge card because it is really not convenience to use with many merchant not accepting or they will ask you for other cards instead. Recently thought of giving it another go and got the AMEX Gold CC. Same story so the thought of canceling comes to my mind again. If not for the MR points, I would have done it already.
SUSOptiplex330
post Oct 2 2009, 10:11 PM

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QUOTE(MilesAndMore @ Oct 2 2009, 10:01 PM)
Do you not shop often ? I guess i am just lucky then because most of the shops i frequent all accept AMEX  biggrin.gif
*
When I first got my AMEX, I wanted to switch all my insurance premium to it. To my disappointment, NONE that I approach will accept it. Not GE, not AXA, not Prudential. Almost wanted to cancel the card right there and then.

Furthermore, even with merchants accepting the card, I heard too many times this question "Do you any other card?"



This post has been edited by Optiplex330: Oct 2 2009, 10:23 PM
SUSOptiplex330
post Oct 5 2009, 09:55 AM

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QUOTE(sherrina @ Oct 5 2009, 09:01 AM)
Ya, It's very irritating that big shot insurance company don't accept Amex. Why don't we sign a petition to force them to open up to Amex?
*
Turn the table around. Why don't we sign a petition to force AMEX to lower their commission charges to the merchants? If AMEX lower the charges to what MC/VISA charge, I am sure the merchant will happily accept AMEX.
SUSOptiplex330
post Oct 5 2009, 11:49 AM

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QUOTE(ks98 @ Oct 5 2009, 11:14 AM)
This is second time i have similar issue and both transaction had no issue with my Visa/Master...
*
Called it conspiracy theory but I would say it probably 'deliberate' not able to read AMEX card.
SUSOptiplex330
post Oct 9 2009, 07:05 AM

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I got mine in exactly 14 days. From sending the application by email and receiving it by courier to my house.
SUSOptiplex330
post Oct 9 2009, 08:05 PM

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QUOTE(Gen-X @ Oct 9 2009, 07:19 PM)

I am surprised you applied for AMEX after what you initially posted in CC thread, guess AMEX must thank we people here for influencing you in getting an AMEX card again  tongue.gif 

*
If not for the reward points, i would have canceled it already because there are so many merchants not accepting it. We will wait and see.
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