American Express Account Shutdowns: How to Avoid in 2020 & Sebby's Take
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- เผยแพร่เมื่อ 20 ก.ย. 2024
- How to avoid an Amex account shutdown in 2020 and my thoughts on why this is happening. Learn more about Point Rewards cards: bit.ly/2zwa5Qn Click "Show More" to see Ad Disclosure
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Thanks for the mention, Sebastian. Enjoy the Maldives, looks like the ice cream happy hours 👌🏼
Your analysis is always the smartest and most careful of all the points/miles TH-camrs out there
FACTS!
So in a nutshell if you're doing something sketchy you're going to get in trouble
Exactly
I did absolutely nothing wrong, but had the financial review,
@@drrob001 what was your usgae history before that review and how did the review go?
Grown Simba no unusual spending. The Review lasted about 2 weeks, they just called this morning and said. I am pleased to let you know the hold on your cards are off, thank you for your continued membership. I said thank you. Checked my Amex app and cards were open.
@@drrob001 FR=/= shutdown.
I play by the rules. Amex are my fav cards and I don't want to piss them off. If you play fair, you make them money and in the process you'll make money as well. Win win.
michael1of2 Yep, completely agree. You come out ahead in your own way and so does Amex. I won’t be pissing them off hahha I like being a card member!
0:12 “How not to piss off American Express in 2020” 😂
I recently got a CLD from Amex. The rep basically told me that it was part of an "annual review" - to note, i did have a balance on there for several months, then paid it off, 2 days later my CLD was slashed. I have been told by research that this is no coincidence and that they are balance chasing. The rep told me otherwise, they said it was just coincidence and that I could appeal it by sending in docs. With this being said, Im not concerned bc I wasn't doing anything wrong and it was just because of a balance being carried which is now paid off. I dont plan on sending in docs to dispute it as I dont need the extended credit line, I will just wait for it to increase on its own and refrain from keeping a balance on Amex.
Overall I think they are cracking down. I keep in mind now that they are a charge card at heard, regardless of if it is an actual credit card or not. Every company has its benefits/constraints. For amex, dont hold a long term balance, keep your payments on time, keep your score decent, and dont abuse their reward system.
Also if you were abusing their system, IMO thats your own fault, obviously they arent going to let people get away with that
Had no idea self-referral was even a thing.
me neither
Same here.
Likely because you aren’t the kind of crazy sketchy person that would do that mess!
I've had 7 "your cards are suspended" e-mails this year. Called them and told them wtf my charges are and they just lift it. It's really annoying, but I don't want them to shut me down so I follow the rules and answer all their questions.
If you game the system, and Amex is losing significant sums of money on you, don't be surprised if they shut you down...
Sketchy people deserve to be shutdown without notice
clarencekwong888 I wonder whether you consider getting airline credit reimbursed for gift cards or airfare sketchy too since it’s clearly against their T&C. Or you filter that out since you’ve done it...
I always thought that self referral loophole was just asking for trouble and never used it. I guess I was right. I’d actually considered it when I was in pop-up purgatory and applied for a BBP which normally comes with no bonus. I’m glad I didn’t.
Not affected. I am from Philippines
😎🦖🇵🇭.
We were waiting for this!
The thumbnail had me thinking you was the guy from Healthy Junk Food . Man you guys look alike lol
In other words, "play stupid games, win stupid prizes".
and then AMEX takes them too, lol
Definitely not FAIR ❤
If they ever shut my cards down I would say keep them!
I have a Navy Federal Amex $20,000
Wells Fargo Amex $14,000
Macys Amex $20,000
So I am good, I will never understand why Amex works this way to people who give them Bizz. I only have 2/ Amex Gold And Plat Amex but again if ever they close them , they can keep them.
I'm consolidating my cards... I have had cards temporarily shut down for no real reason that made any sense. I love AMEX, but they have me straight paranoid.
any reason , you got shut down?
We are long time (1999) card holders and not once have we had our accounts suspended or under review. For those who gamed the system and thought they're smarter than a billion dollar corporation well you thought wrong and now just got bit in the ass! Follow the terms of the agreement and everything will be fine.
Congrats on not maximizing your rewards potential. Guarantee I made more from amex in the last 2 years that you made in last 20. #Winning
@@CalebsRightNut #loser
I'm in a tough spot as I self-referred once back in July from Personal to Business. I've been an AMEX customer since March and I know what I did was wrong. I shouldn't have done it. I'm just waiting to see what happens to my account. I haven't had my points clawed back nor lost the ability to refer but who knows what may happen in future waves. For what it's worth, I use both my cards as daily drivers and have put $19K on spend since July
I think $19k since July is a good reason for them to keep you around as long as that spend was organic. Just keep the spend up and and don't engage in gaming behavior moving forward.
" I know what I did was wrong. I shouldn't have done it."
Then why did you do it? It's one thing if you didn't know you could get in trouble for that and then do it but you said you did. Didn't think it would catch up to you potentially? Then again, one self-referral is MUCH less than a bunch of other things at I'm reading online. Some people have sick referrals and more going.
When you upgrade or apply to a card, we tell you: We may take away your points or cancel your card if you cancel or downgrade your card withing 12 months of upgrading". So far I've seen people only getting their points taken away. Self referral is also a big no. Do not break the terms or bye bye.
LEEEETTTSSS ROLLLLLLL SEBBBB This is perfect info especially with AMEX cracking down with clawbacks 🤙🤙🤙🤙🤙🤙🤙🤙
No notification but I am addicted and check youtube 3 times a day squuuuuuuuuuuuuaaaaaad!!! Great topic! I always wait for Sebby's insight!!
So basically,don’t try to rip Amex (or other card issuers) off and they will be good to you. Seems simple.
W Maldives Wow Ocean Escape Suite. 😍 Video tour / review of how all your room upgrade experiences have been, please !!
I know you have talked about this here and there, but since the shopping season is upon us why don’t you make a video comparing price protection and warranty cards have? Some of us have high tier card where other have lower tier ones. So a general overview among different cards would be amazing
It sounds like they’re cracking down on the younger 20 somethings that lied about their income and tried to scam referral bonuses.
Be honest with your income, don’t scam them and Amex is a great credit card company. Thanks for the sensible vlog, Sebby and keep up the great work.
In June I purchased $2,000 in gift cards on one transaction at Kroger, using the Gold Card. I got 4X and $1 off gas for the next 6 weeks, but otherwise not something I'm going to repeat with an Amex card.
dang... that's a good way to get flagged.
@@WHERESSS Yep, but it was before gift card purchasing became obvious taboo, they started cracking down 2-4 weeks later.. We were buying a new washer and drying from Lowes, not even knowing it was against Amex's rules.
@@thejokerspeaks its literally been years since gift cards were obvious.
@@WHERESSS If I learn how to time travel, I'll go back and warn myself. ;)
What was that like going through the cashier line with $2,000 worth of gift card? Did the cashier ask any questions?
Can you tell us how you got Plat Elite?
So glad my Amex is cash back. Did you know that Amex Magnet added a 3.5% cash back on grocery stores for this card until year end? Would love it if they would make this perk permanent since Magnet is no fee card.
Luckily not affected. Plat charge in Singapore.
AskSebby: I like to travel. I like FREE stuff. I need to pay Property Taxes by Dec31 of about $22,000. I did the Southwest Companion Cards last year. Already have Sapphire Reserve. I'm heavy in Chase cards but not AMEX. What ideas of new cards would be good for this massive purchase? Thoughts?
Feel free to fill out a free card consultation form: www.asksebby.com/free-card-consultation
Sebby, I am interested in getting an AE card but I don't know where or how to start. I was sent an application a few months ago but ignored it. I don't want to game the system, credit is good, and have it for travel mainly. What do you suggest? Call the company or go online and fill out an app?
I know this sounds like a super basic question, but I really want the best card for me and I don't know where to start 🙂
This is why I resisted the urge to self refer and just asked people on FB for links lol
This is why we can’t have nice things
Who would give this a thumbs down 🤦🏻♂️
Amex employees lol
Grifters who got slapped down?
I got an FR yesterday. I'm currently waiting to hear back...
What happened
Gessin Pineda, They put a 10k limit on my plat and gold card, which they still have not lifted but apparently will. I had the money in my account month to month to pay off the cards too, so it was/is a bit annoying, but such is life.
Its self referral. I got told no bonus for aspire card when I self referred. When I went through amex rep I got bonus.
Where should I transfer my Amex points to?
Can I get my centurion now?
Hi Sebby, I love your channel. So here, my question I currently have 3 Amex cards as follows Platinum (personal), Amex business, and Amex Delta. I want to shut my Amex business, and the yearly fee has gone up this year. I get my more benefits platinum and delta Amex (yes I fly a lot in the US), do you see any issue closing the business card.
does referring your spouse count as a self referral? Also can you explain more on the upgrade/downgrade game? not sure what that means. thanks
Life Journey no it is fine to refer a spouse .
Is referring your parents or children sketchy?
No, that's fine. As long as it's not yourself (same SSN).
Thank you!!
What if you hit the minimum spend and do a transfer balance to a card with 0% apr ? Will that affect me ?
Where can we transfer our points to?
If you’re trying to scam or abuse you’re getting shut down. You deserve it.
What about if you don't use a high value card that I haven't used it for 8 to 9 month's.
Also if I use like 1 or 2 % of my credit line is that an issue
Can u apply again if u got your account shutdown?
Southwest gift card glitch still working for Amex airline credit ?
What's not in your wallet...now?
Is the referral down for everyone?
I just got approved on my first AMEX card ever (everyday card) Sebby, am I at risk? Lol
No lol relax
Did you self refer?
I sent myself my referral link with all 5 of my Amex cards and got the points or cash with no problem I guess nothing happened cause I never closed them after I redeemed the points
Slight tweak on the music I see
Oh, it's fair. Let's play by the rules. All that foolishness makes it hard for us do gooders. An innocent move could prove detrimental...
What about cancelling the card in 1st yr post af payment.. like platinum
They can blacklist you. If you have a serious issue with the card or no longer want it I would recommend calling them, telling them why, then decide if you want to close it or not. You dont want to give the impression that you just joined the card for the reward then quit.
After airline credit rule I give 0 F about Amex.. chase ftw
@@varjunind1 if you unsatisfied, call them and tell them you want to cancel and why. I mean dude you aren't convincing me of anything in just telling you cancelling within 12 months will put you on their shit list. Even if you don't like amex right now it's a good idea to not be on their blacklist
You pay $550 for the first year. What kind of idiot would cancel before the year is up?
Good: you sound better!
Simply in Ebonics, don’t f with Amex
sebby u got to add if u add a lot of AUs to ur accts u will get shutdown
Hope AU's aren't an issue. I have 3 AU's on my gold card. My wife, and 2 step sons. Intent was to get my step sons into the AMEX eco system at a young age (17 and 19) and start building their credit. In short, everything an AU is supposed to be used for...
@@jeffreyrogers5689 that's not a lot lol...they are looking for folks who add numerous totally unrelated people
So do the right thing, follow the rules and you'll be ok!!! Sounds easy. And yes it's fair. If you violate the T&C's you broke your end of the agreement. And here I thought that my plan to downgrade my Delta Gold AMEX to a Delta Blue at the card anniversary was going to get me in trouble?!?!?!?!?!
Don't be an idiot. Don't self-refer.
Amex is so petty... chase all the way!
I never believed in using Plastiq, I do not buy gift cards at all, and I never peer to peer with any of my cards.
Want a cookie?
Jackson Welch yes I do. What you got for me ? 😩
@@Thacldriva we got cookies that have mayonnaise and peas, you still interested? Raisins?
Fearlessly Underrated what’s wrong with using plastiq?
@@myklepr82 - Nothing, Fearlessly Underrated is just being his super-virtuous self.
Girlfriend and I just got the amex green card. Do I have to worry about them shutting us down by using it for gas, food, restaurants etc. mainly using for everyday needs for the most part? I’m a little worried that our monthly spend on the card won’t be enough... I’m planning on charging 1,000-1,500 a month on this card
Jacob Sherm you are good.
Oh mah gerd, I cant use the piece of plastic that charges me interest.
If playing the rewards game if your jam; your already fucked in the head.
This is a good thing ! The more they crack down on people mis using these systems the more money they save which in turn allows us to keep the benefits we have. It's one thing to be a point Hunter/hustler . It's nother to have 74 accounts with just amex and constantly upgrading and downgrading .....clearly abusing systems intended for people who actually need the upgrade or downgrade
well shit haha i just self refereed a few days ago!
Early 2018 I got an Amex Gold Skymiles card and got the mile bonus with my spending. Right after I got an Everyday card the got that miles bonus. Before the year anniversary and fee came due for the Gold card I chatted with support and asked if there was any penalty for canceling and they canceled it no problem. A few weeks later I got an email offer to open a Gold Skymile card again with another bonus after meeting the spend requirements. I did it and just left it open after I got the bonus, I haven't used it since really. I use my Everyday card for everything. I've been looking at the Platinum card recently and am wondering if I should ask to upgrade my Gold card. The $550 fee is steep but after watching your's and some others videos it seems like that can be offset overall with some good planning. I do wish the Uber credit was as needed and not $15 per month because I like taking Uber or Lyft all over Vegas when I visit.
*Glad I don’t have Amex...this is just too much drama lol*
American Express cards can be very lucrative, if you're after travel. Most of the drama comes from the sketchy cardholders, not from AmEx.
Frankly, shutdowns are very rare. We just hear about them in the interwebz echo chamber so it seems like it's happening to everyone. It's not.
It’s a great card but while I went through my review I started to cancel the cards but decided to keep them
Just stop trying to churn the hell out of AMEX.
Best is canceling your AMEX and use your debit card because AMEX is like debit cards.
Pixel Imaging Media debit cards don’t come with buyer protection. How is is the same?
@@Serena_9 Please do some research it does, and you pay and done, so nobody micto managing you.........
Can you product change on chase and get bonus every 2 years?
In Amex，we trust？
Does Chase frown upon self referring business cards?
American Express customer service sucks. They either lie or do not know how to do their jobs. Takes 3 phone calls to accomplish anything.
I thought Sebby usually beep out profanities... what happened @ 0:30?
good riddance. Keep it going Amex! manufactured spend, churning, self-referring only makes it harder for those of us who follow the rules and consistently put down real spend. I never did self referrals. It just seemed like the best way to be first in line if Amex started cracking down, and there you go. These gamers have been cautious with gaming Amex for a while now, but on the Chase side, it is still going strong. Chase should follow in Amex's footsteps. On the Chase side, there are people who would never be able to meet a 5k min spend organically, yet game their way to hundreds of thousands of spend. There are many online credit card points/travel communities that have turned into nothing more than a forum for ways to brainstorm how to game the system. Then they act all entitled when they get shut down. My opinions are always unpopular in those places. Another thing to keep in mind, there are stories of people being confronted by federal law enforcement while trying to game credit cards. Everything these guys do is legal, but their methods are similar to those that are used by money launderers. Its funny to read about, but I'd never want to risk having my life turned upside down for points.
What kind of Asian is Sebby?
The cool kind.
Asian on vacation.
Why?
@@anhquoc1992 Just curious
Asian-American.