Suckered by AMEX

Accruing credit card bonus points is a major part of my budget and finance plans. I've been doing well at it for US credit cards, but wanted to see if NZ had caught up at all. Turns out, there are some offers out there that aren't too bad. Unfortunately, I am not eligible for the one I want because I currently have a no-fee AMEX NZ Airpoints card. All the offers I want require you to be a new customer.

In order to be a new customer, then, I have to cancel my current card, wait for a few years, and then apply. I never ever use my AMEX, because so few places take the card here in NZ. I should have canceled that card 3 years ago, 1 year after I received the bonus on it (50 airpoints). But I didn't...so now I'm stuck. In order to be eligible later, I decided to cancel it.

Then the wrench: they offered me airpoints to not cancel. I agreed. What am I canceling for, if not to get more airpoints, I figured? Why not get the airpoints now?! So their ploy worked. I should have seen if I could have gotten MORE out of them, but that will come later. I'll wait 6 months and try again, and see if they'll MATCH this offer of 200 Airpoints for signing up for a $195 annual fee card, and negotiate from there.

Anyway, they are free points so I'll take them. It does delay my plan to sign up for more bonus cards, but that's OK for now. I hope that doesn't make a huge difference later!