amex follies

Blogger's Note: This is not meant to be financial advice and it should not be interpreted as such. I also don't swear that I am getting all the details right. I am writing this to bitch about something that annoyed me on a call with American Express. Do not use this post as the basis for your financial decisions. Doing so could lead to your doom! Or worse!!!

I was on the phone with American Express today. I had a question about an account. And the customer service rep did a fine job answering my question. Well, maybe not a fine job. Adequate is more accurate.

Whatever.

But then he went into a sales pitch. He wanted me to convert my "Blue Cash" card to a "Blue Everyday Cash" (or somesuch) account.

Like so many other credit cards, the Blue Cash card gives cash rebates. I don't remember all the specifics -- maybe I should -- but I do recall that it gives 5% back on some purchases: supermarkets, drugstores and gas stations, as I recall. The catch is that those high levels of rebates only kick in after I've met some minimum spend amount for the year. Until I reach that spend, the rebate rate is much lower. The Blue Everyday Cash card (or whatever it's called) has lower cash back rate, but they don't rely on my meeting a minimum spend level. So, if I switch, I'd only get 3% back on supermarket purchases. But I'd get it on all supermarket purchases.

So, of course, the phone rep emphasized the cash back, listing the different categories and rates. He elided the fact that those rebate levels are lower than what I get with the current card. And when I pointed out that fact, he pivoted to the fact that the new card's high rebate levels start at dollar one. "So it's win/win" he told me.

That's where I got annoyed. It's not win/win. And when I reminded him of that he confidently played down the effect of the rate being lower. Which really annoyed me.

Look, I'm not saying that the new card would be worse for me. It may in fact be better. I spend less on the Amex Blue Cash card than I used to, and its advantage over the newer card kicks in at higher levels of spending. I really can't know right now which card is better for me. I don't know why Amex is pushing this switch. It may have to do with customer loyalty. Or maybe they did some analysis that tells them I'll get less rebate if I switch. They could simply force me into the new arrangement by telling me there are "changes" to the rebate program. I assume they'd be within their rights to do so. Hell, they can eliminate the rebates altogether. But I guess they're better off talking me into enthusiastically making the switch than forcing it on me.

But don't insult my intelligence by implying that there's no downside to switching when there clearly is.

I don't blame the phone rep for any of this. He probably had to try selling me on the new card. And he probably was following a script that told him how to counter any of my objections.

But I don't like being lied to, or feeling like I'm being manipulated.

I may end up making the switch. But I will also probably use the Amex card less.