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American Express Appreciation Thread

Pennglock

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Originally Posted by Douglas
We have corporate cards, all green, here. I have one and it is used for all kinds of travel.

However, I've never signed up for membership rewards so I don't get any points. Which is kind of a shame because I've racked up well over $100K on it over the years.

Anyone have any advice on whether or not to sign up? Is it worth it? There's a $75 (I assume annual) fee for my card - but I also wonder whether as a company we should sign up for rewards that accrue back to the company - anyone have any experience with this?

I'm also wary about what any of this might do to people's incentives when using their cards - we want them using them for legit business expenses, and we prefer the oversight of cutting our own checks for most things, but this might encourage folks to, for example, pay various vendors, memberships, trade show fees, etc. that we would prefer to write a check for in order to receive the personal benefits that accrue.

Any words of advice from this corporate perspective?


Depending on how much bureaucratic bullshit goes on in your company, it's at least worth asking if they will let you accumulate points. The only downside is you'll pay the CC bill every month and will not get reimbursed until a few weeks later.

That's what Ive been doing for a while and it's probably my favorite fringe benefit. The only downside is I don't get enough time off to go through the points... and they depreciate fast.
 

tiecollector

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Amex all the way. You can open a dispute online and it resolves itself in a few weeks without any other interaction. With Citi they require lots of documentation that I don't have time to fuss with.

I did have a problem with Amex once and that was at a restaurant where I think they ran my bill twice and didn't require a signature. Since the restaurant was an Amex preferred vendor, they took priority over me.

Since Discover is now on the MC network, I've used them as well and smaller businesses not accept it. I've never had to dispute anything with them though.
 

ChicagoRon

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Originally Posted by Pennglock
Depending on how much bureaucratic bullshit goes on in your company, it's at least worth asking if they will let you accumulate points. The only downside is you'll pay the CC bill every month and will not get reimbursed until a few weeks later. That's what Ive been doing for a while and it's probably my favorite fringe benefit. The only downside is I don't get enough time off to go through the points... and they depreciate fast.
I'm
confused.gif
by this whole post. If your company has a grace period for paying expenses, they tend to extend that to points. Amex points don't depreciate, unless you are talking about standard monetary inflation.
 

Pennglock

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^Am I somehow getting ripped off? I pay Amex monthly, submit those expenses to accounting, and the company cuts me a check 2-3 weeks later.

And of course points depreciate. 60,000 points won't get you the same flights they did even 5 years ago.
 

ChicagoRon

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Originally Posted by Pennglock
^Am I somehow getting ripped off? I pay Amex monthly, submit those expenses to accounting, and the company cuts me a check 2-3 weeks later. And of course points depreciate. 60,000 points won't get you the same flights they did even 5 years ago.
I guess it depends on your company. I work for VERY big customers of AMEX, so we have different payment terms on expenses (we also have a direct deposit to AMEX, so I'm never cutting a check). As for points, that's inflation. $100 cash won't buy you what it used to. THe conversion rate remains x airline points for y amex points. I generally use mine to pay cash for a flight and have Amex let me pay with points. That affords a 20% discount on the point value and lets me do some checking for alternate flights that are cheaper using multiple airlines, etc.
 

Douglas

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Hm, I pay Amex monthly but I submit my expenses directly - I don't have to wait for the Amex bill, I just put in what I bought along with the receipts. If I submit the report by Wednesday 4pm, I get a check on Friday. But also, since it's sort of my company, I can get a check whenever I want.
smile.gif
And yes, reduced "value" is due to inflation, not depreciation. But I'm intrigued by this points discussion. what are you on about, ron? i don't follow.
 

ter1413

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Amex...:slayer:
 

CalTex

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Car needed a jumpstart today when I came out of Staples - Amex had roadside assistance there in a half hour :slayer:


The addition of their roadside assistance is a plus, but when they arrived I was surprised to see a civilian in plain clothes in what I believe was their POV, gave me a sense of insecurity for a second.

I have the gold card for reference.
 

DJackson

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As a traveler, I love my amex. Free airport lounges with free alcohol - YEEESSSS! (plus many other benefits)
 

DJackson

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Yes forgot to mention. However about that - I find the yearly fee painful yet worth it for frequent traveling. And more about that, there was a promotion for 50k reward points (i.e. $500 if used right) to sign up for the plat card which more than pays for the 1st year... i'ts probably still bouncing around out there somewhere.
 

otc

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The "AMEX costs more" myth is getting kind of stupid...end user rates can vary based card processor (who then extend different rates to different sized customers) but the actual interchange rates are not worse anymore.

Amex costs more to process than a standard visa/MC. Back when most people had standard cards, this made amex more expensive.
Amex however, costs *less* than a visa with rewards. Rewards cards are always charged at a higher rate to cover their rewards and when was the last time you saw someone apply for a new non-rewards card? I had one and they discontinued it and sent me a rewards card instead (since if the fee goes up 1% and they pay out 1% but I don't use all of my points...they make money).

I've never seen a retailer look at my card and say "sorry I can't accept this since it gives you airline miles" yet they still occasionally hand my amex back to me (but this is rare enough that I never bother asking if they take it)
 

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