American Express has included some changes that have been communicated to cardholders via their monthly statements. The changes are as follows:
- $25 fee if your account is cancelled and you ask American Express to reopen it and American Express does so
- Negative change to forfeiting points due to late payment: ‘must receive your payment of the Amount Due on your Linked Account by the Payment Due Date for a billing period, instead of by the Closing Date of the next billing period, in order for you to avoid forfeiting the points that you would have earned for that billing period.’
- Old blue cash cardholders will no longer be able to redeem rewards dollars for gift cards or merchandise (not sure why you’d want to do this anyway as you can do statement credit)
Hat tip to Travel With Grant
That $25 reinstatement fee is nothing new. Been in the terms for years.
Hasn’t there always been a $25 account reinstatement fee? Or is that a Chase thing? I’ve definitely heard of it a couple years back
What about the “please pay by” date? Can we still make the payment before the close of the next statement for those?
Hi
William Charles, thanks for linking to my post about AMEX changes. I just posted about upcoming changes to the US Bank Cash Plus card too, which will be a bummer for people who like to redeem cash back for any amount under $25.00
The conversion rate for some gift cards like HD, Staples, Bed & Bath are 1:1 while is not the same case as statement credit.
Statement credits on Old Blue Cash are also 1:1.
They would occasionally have like a 10% bonus, but not often.