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TGLoyalty that is correct. forgot about sole traders.
the OP did say wide has a company so probably not a sole trader.
Anyways, as mentioned in the thread they cant just confiscate the points earned and have to give time to transfer the points
Do they have the exclusion of pre-existing conditions on the business card that the personal Platinum card has?
Yes – that is a drawback of all Amex travel insurance and what @JDB was alluding to in his earlier comment when he said “Either way you need to be quite lucky to be 65+ and for the Amex Plat medical insurance to be of much use.”
Sorry for delay in responding. We emailed CEO and they are investigating. Meanwhile we went on chat function and got all our points moved to Marriott with a 30% bonus. Feedback is it’s due to lack of information on my wife’s business. She is sole trader and is property income plus some services offered. I have a copy of chat conversation where they said all is received and good.
To solve problem I upgraded my Amex business card from gold to platinum. All ok BUT I am restricted on referring anyone!!! Contacted customer services and today on chat and there is clearly a problem with me. I have referred anyone for 2 years. I can refer with my BA Amex card. Never done a self referral. My account has no disputes. All balances are zero.
Thanks for al your responses which are so helpful.
@Howard0181 apprecite the update. Hope it all resolves quickly in your favour.
@Howard0181 please keep us updated. IMV it’s possible that either or both of your accounts has been selected for what I regard as Amex’s illegal indirect age discrimination practices, for potential (or actual, in your wife’s case) “managing out”.
Currently it seems Amex might be able to hide behind their rights to credit score and evaluate accounts as they wish, and to offer services (or not) to whom they choose.
But I would expect practising age discrimination, which is generally illegal and just as illegal if a practice or a policy means it’s an indirect result, will be prohibited or at least become severely restricted in financial services too, such as Amex provide, in the future. Right now financial providers seem to be able to hide behind all sorts of privileges to mistreat customers and it’s nontransparent, can’t be appealed and they don’t seem have to account to any authority on this.
@Lady London, age discrimination isn’t illegal – the Equalities Act 2010 gives a specific exemption for Financial services. the picture is clouded somewhat by FCA rules and principles, including the new Consumer Duty, and FOS rulings add further complexity. But, provided financial services businesses have good reason for discriminating, they can.
Be careful what you wish for. Without age discrimination, products like annuities, life assurance, even health insurance would disappear from the market.
@jj my hopes are that there will be some recourse for Amex’s type of card services as well if refused due age.
As a perfect female driver, my car insurance premiums have been very adversely affected since discrimination in car insurance premiums according to gender- another characteristic generally protected feom discrimination – was disallowed.
I am now having to pay a lot more as statistics prove men have far more accidents and their car insurance has overall far more claims. Insurance companies used to be able to charge male drivers more for this higher risk. Now they can’t so I as a female driver with a perfect longstanding record, as all other female drivers, am having to pay higher premiuma as the insurance industry was told they couldn’t use gender to discriminate.
I’d say the risk of something going wrong in someone’s card year that crystallises a risk Amex’s algorithms thought higher for age, is on a par with the higher risk of a person of male gender having an auto claim, than if they were a person of female gender.
So yeah I live in hope that the discrimination Amex practises this year, today, based on age for which a good longstanding customer has no right to recourse, explanation or appeal, will similarly be outlawed.
If we’re lucky we will all get old one day and currently Amex is hiding behind finance industry rules intended to combat crime, to discriminate based on a protected characteristic when it would be generally illegal in other contexts.
Thank you to all for all the different comments and opinions. My credit rating is 999 but I think I will have a check on my wife’s rating. I know they have different criteria. Am not convinced it’s age related but that’s just a guess of mine. Odd that they are happy to take my £650 for the card but I can’t refer anyone. I am going to all Amex on Friday to see if there is an update. I have been paying both my card and my wife’s card from my bank account. I have not referred anyone for about 2 years.
We’re all getting older, so I understand the frustration. The problem is that older customers have very different needs. They’re much more likely to be vulnerable, and mortality risk becomes a real concern in credit products. From an income perspective, some older borrowers have very stable pension income, but many are exposed to inflation, stock market corrections or the death of a spouse. All this means that credit models and product specifications designed to meet the needs of a 40 year-old can create harm in a 75 year-old.
For better or worse, our financial regulatory system assumes that customers are ill-informed and liable to make poor financial decisions, so financial firms must protect them from themselves. For a firm in Amex’s position, serving older borrowers is simply in the ‘too hard’ category. Under different regulation, a different conclusion might be drawn.
Had a call from Amex this morning and we may have identified the problem. Amex have said they do have all the information apart on one thing. Seems on this account they have our old address. We moved 3 1/2 years ago.
Odd as I sent bank statements, tax returns, letter head and some other info all with out current address.
Anyhow, looks promising.
Had a call from Amex this morning and we may have identified the problem. Amex have said they do have all the information apart on one thing. Seems on this account they have our old address. We moved 3 1/2 years ago.
Odd as I sent bank statements, tax returns, letter head and some other info all with out current address.
Anyhow, looks promising.
How is this progressing?
Compensation looks to be a certainty.
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