Payback points are indispensable for many shoppers. But customers or users of a certain credit card now receive fewer points on their purchases.
The Payback American Express card is very popular with many customers because you can not only collect points, but also use them for free and pay for purchases. However, American Express (Amex) has announced that the ratio of sales to payback points will decrease. The innovation will apply from December 5, 2023. TECHBOOK provides an overview and assesses the situation.
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Fewer points on purchases
Payback American Express credit card holders actually get one Payback point for every two euros spent – but that won’t be valid for long. In the future, fewer points will be credited for purchases. The information brochure for Payback American Express recently states: “From December 5th, 2023, one (1) PAYBACK point will be credited for every three (3) euros charged.”
It also says that those who use the Payback Max option will receive one additional point for every 3 euros spent on a credit card. However, you have to pay an additional fee of 35 euros per year for this service.
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Payback American Express still remains free
Nevertheless, there is also the all-clear. The Payback points you have already collected still remain. Payback American Express can still be ordered and used free of charge.
It is also interesting that the points for the Lufthansa frequent flyer program “Miles&More” can be transferred, even if collecting points will be more difficult in the future with the new exchange ratio. This is also why the Payback Amex was considered a good alternative to the paid Lufthansa credit card.
The change not only applies to new customers, but existing customers will also receive fewer Payback points in the future if they make their purchase with Payback Amex. It is also misleading that the official Amex website still shows the ratio 2:1. The announcement of the change can only be found in the information brochure.
TECHBOOK means
“In fact, it is a shame that Payback American Express is somewhat devalued by the cuts, even if it does not affect the masses. For example, in the future you will no longer receive 50 points for a purchase of 100 euros, but only 33 points. Anyone who has used the card for mileage credits, among other things, can now find better alternatives with a better earning ratio. However, it is positive that Payback Amex remains free.” – Isa Kabakci, editor
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