American Express is shutting down accounts in the US and Canada for gaming the system. Amex Canada is also running some interesting MR point promotions that we hope to see in the US. 💳 See Sebby’s Card Picks: : Click “Show More” to see Ad Disclosure
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36 comments
Hell they could let us cash out at 2 cents pre points to America express savings account since they have those ! Cant see how that’s not a win win for everyone. Or just give premium card holders a high value on their travel porthole like chase. 🤷🏼♂️
Will they be cracking down on CSR applications too? Planned on applying for one in July when I start my job, will be dining out a lot.
Wish you could be on something like jre. People need to hear this information
Ahhh I’m Canadian and I opened up the Charles Schwab Plat an hour before watching this video!!! Nooooo!!!
If I start opening cards in Canada and start getting sign up bonuses from a Canadian bank, would that be possible?
Hi Seby. Can you possibly make a video about how to efficiently use Amex MR? (Do a demo maybe?) You mentioned transferring to ANA, but I’m new to points/miles, and despite reading several articles online, I still don’t know how to book with ANA or Delta for >1.6cent/point.
in general just play buy the rules and don’t get your account shut down
I hope AMEX completely shutdown. They are terrible.
If Amex ever offered a .02 cash out here in the U.S. I would likely jump at the chance. I have an Amex trifecta but the one drawback for us is that we never get any of the hotel related bonuses because we prefer to use Airbnb, and there's no real way to get more then 1 point per dollar spent on our stay. If they offered a .02 cash out, i'd simply cash out, put the money directly into our savings account for travel and then just dip into it to pay for our next stay. It would finally be like getting .02 per point on our Airbnb as well as flights!
Sebby u should change your picture because whenever I see your video I think its an Ad and skip over it
i live in canada google voice doesnt work here for some reason
Sebby is there a AMEX deal to use 1MR point with Amazon right now? If so can you drop a link.
Sebby I have question for you, or anyone else that might be able to help me out. I opened a Chase Slate card solely to do a balance transfer. I was instantly approved but with a credit limit half of my other cards. I called, and they denied the credit increase. I don’t want to max out the card with 95% utilization to complete the balance transfer. What would you do? Just close the account or…
We need that 2 cents per point
They've just doubled the points earnings for our UK Platinum card and increased the cash out value to 1.8% till late July…
Similar to what they've done for the Canadian market.
Interested to see what they do for you guys in the US.
I'm loving my Platinum Card 1000 MR pts = $20, with double earn!
I have an unrelated question. Is there a way to pay off the last of my car loan with a credit card to put me where I need to be for a sign up bonus?
if the biggest bank in USA is making it harder to borrow money everyone else will follow. Simple as that. There's very little incentive to risk as much as they could (the banks) considering the immediate crisis (and looming uncertainty) we're in.
Petal Visa cut my limits by 80%, late payments, never missed 1, they admitted it, didn't care. Discover cancelled all my cards, perfect payments 0 ballance. 700+ credit score.
Citi the best. Raised my limits
Thank you stay safe
So should we maintain a balance to prevent our accounts from shutting down?
Called reconsideration line and got approved as a sole proprietor
I want that 2 cents per point in the u.s!
Why is this news not on a cryptocurrency channel????
gamers with no money had it easy for way too long in Canada when it came to points. In Canada, you could open an Amex, hit the min spend by buying a refundable plane ticket or hotel a few months out, and refund it soon after the bonus hits. Until recently, there were no clawbacks or shutdowns with this method. Pretty much everyone did it. All you need to do is float $3-20k indefinitely and you have hundreds of thousands of free points a year with zero real spend. For the risk averse, this was an insane return. I'm glad they're getting shut down. All gamers do is eat up award space for the honest people.
It seems they aren't approving ANYTHING!!
American Express is tightening it's belt. I received an email about my balance and that I don't have a limit but it is not limitless, lol. I looked back and my balance was below my average monthly balance over the past 12 months. They never declined any purchases but it was a minor warning. They also suggested making a payment. They are worried people and businesses will max out and then run out when things hit hard. On heightened alert!
I know for a fact Chase is still increasing credit limits with Business Ink cards. They run a hard pull though.
Yesterday Chase closed my tiny Amazon card that I got a couple years ago and never used… I still have my 2 Southwest cards with them.
Also Discover increased the balance transfer fee from 3% to 5% on their online offer today.
I believe all the banks are becoming stricter with unsecured cards & loans. Personally, its been a mixed bag for me:
-nordstrom raised my CL from $1.4k to $6k at the end of march
-was preapproved for amx green & platinum, but got denied early april
-was preapproved for loan from discover, but got denied early april
-got approved for amazon prime card, but for only $1.5k in mid april
-citi-double cash increased my CL from $2.7k to $5.2k last week
-synchrony approved me for paypal card for $10k today!
gona lay low on cc apps until it gets cold outside!
What is the 4/24 5/24 etc?
i got approved for chase business cash week 1 corona, sole prop, "10,000 income" 670 somethin score
can attest to Ink becoming hard to get. just got rejected just now based on Business Structure…when I countered that, rep switched focus to how i only have 1 year of business credit history, and then again switched to how i already have the max credit they can give me.
what should I do? should i HUCA?
Amex Canada is the only country that has ever denied me Global Transfer – twice. They are a real pain in the ass.
Global transfer
Thanks Sebby, reconsideration line really works.