Update: DEAD! Don’t miss it if this becomes alive again. Sign up for deal notification alerts here!
Effective 6/1 AMEX is ending OPEN Savings.
The program gives 5% cash back at Fedex, Hertz, HP, and 1800Flowers on top of regular points for spending on all AMEX business cards.
It’s not the biggest loss, but it still hurts to keep seeing benefits being chipped away. I’m still mourning the loss of the 50% points rebate on the Business Platinum AMEX.
Other credit card companies are chopping benefits as well. For example, effective 3/1 Discover has eliminated rental car insurance, extended warranty, return protection, purchase protection, and more. Will other banks follow their lead in ending generous credit card protections?
Last year Citibank neutered their $450/year Prestige card by eliminating AA club access, increased points values for paid AA flights, free rounds of golf, and more. I just hope that Chase Sapphire Reserve® stays exactly as it is now.
For now, Mastercard still operates Easy Savings and Visa operates Savings Edge for business cards. For example Mastercard offers 5% back at Avis/Budget, 2% at Rakuten, and 1% on select gas stations. Visa offers 5% off at B&H, Lenovo, and Wyndham, 4% off at Alamo/National, 3% at Newegg, and 2% at Chevron. Hopefully those offer stick around…
What credit card benefit do you think will the next to be eliminated?
HT: a good yeshiva bachur, via DDF and DoC
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26 Comments On "Goodbye To AMEX Open Savings And Discover Card Protections; Which Credit Card Benefit Will Be The Next To Go?"
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Are the Discover benefits ending for new customers, or are existing customers having those benefits stripped as well?
Stripped for everyone.
Dan wake up already, crypto is bucking credit product trash – have you seen Chase’s report to the SEC?
Why use Discover, when they ended protecting my purchases. ADIOS
Is the simply cash AMEX card still giving the 5% cashback on office supplies ?
Still exists.
AMEX is not in a position to water down their core offerings, since then they’d hardly have a place in the world.
discover told me the reason is becouse nobody used it.
The way insurance works is that people don’t typically use it, but it’s good to know it’s there when you need it.
Why get rid of something if nobody uses it? Costs ought to be quite low if that were true and it looks terrible to eliminate it.
it was managed by a third party with high administradive costs
I used it the insurance, someone hit my car and broke the door off. roughly 4k in damages and discover covered it.
Discover’s protection guarantees have been worse than worthless anyway, so I don’t see why it matters. I never ever use discover if there is any chance that it will break or I will need to return it. Only once have I tried to get them to come through when a merchant (on ebay) sold a worthless product which was not as described. They had no interest at all in standing up for their customer. It was an infuriating experience. AmEx will stand with you as the customer all the way.
I used it twice and both times they paid.
Bad PR for Discover but their protection was so mediocre in practice anyway. All my attempts to recover money from final sale items that couldn’t be returned failed. AmEx would’ve taken care of it immediately.
City National Bank Crystal Visa Infinite
4 Authorized user $250 per Calendar year and 4 Global Entry, Priority Pass 50,000 points with $400 Annual fee waived First year.
I will keep paying $400 until they take away $250 Airline Credit per AU and not Account
are you sure its per AU and not per account?
I did it 4 times in September 2017 and 4 times Jan 2018 – $250 AA Gift card.
Primary and 3 AU
I did 2 GE Primary and AU
thanks for confirming. did you apply at a location or is it possible to apply via phone?
I applied at the Bank as that is the only way – Painful – very manual and details with the Banker.
do gift cards work for the airline credit
I personally did 6 X $250 virtual and $150 and $ 100.
Thursday a Flyer talk thread about it don’t have link but u can find if u Google.
I remember it saying Delta no credit
open savings was great! :(:(:(
i spend 50K a month in open saving!!!
I have 5 amex business cards between mine and my partner’s
so i was racking up 5% for 100K worth of Fedex spending!
oh well….
There goes the Fedex method
That hurts. I really liked the FedEx savings.
can you book the 4th night free under someone elses name who is not a cardholder?
Purchase price protection/matching will eventually be history… or severely neutered. With Earny and Paribus automating the process, banks (and whoever they turn to for insurance) will find it too great an expense/liability to offer.