Recap: AmEx Higher Costs, Equifax $700 Million, Non Cancellable Award Stays & More

 

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doc
doc (@guest_786657)
July 22, 2019 16:31

These companies have gotten too big to fail; and so now the straight line to corruption has stymied any potential for them to just-do-the-right-thing. We now know that these systemic problems aren’t going to be fixed by mere fines. Fines are just a cost of doing business – the same wrongheaded way.

Equifax is just going through the motions, here; trying to placate the obvious sentiment against their egregious missteps… one after another, and on and on.

Instead of less regulation, and less enforcement, and a mere fine, and — let’s all just go back to business as usual; (definition of insanity) instead, consumers need to be empowered to wield absolute control over their own personal information.

There should be a total opt-out, in regards to selling other people’s personal data without their express permission. Better yet, these systems that are susceptible to data-breaches should be managed on an opt-in basis, forcing anyone that aims to profit of the personal data of others… to recapture all of their users. This would include Amazon, Equifax, Facebook… and any other company that has been skating by – pimping out its user-base’s personals to the highest bidder; or just as bad… hoarding everyone’s data in a monopolistic fashion.

We need to get way out ahead of these pervasive societal trends. Otherwise, forget about the government being big-brother. We’ll instead have to worry about any random guy – right down the street – having access to our every move.

doc
doc (@guest_786516)
July 22, 2019 12:51

That Equifax article is behind a pay wall.

diggs
diggs (@guest_786605)
July 22, 2019 15:08

1) In a Private/Incognito/InPrivate window, navigate to:
http://facebook.com/l.php?u=https://www.wsj.com/articles/equifax-to-pay-around-700-million-to-resolve-data-breach-probes-11563577702

2) Click the “Follow Link” button (no Facebook account required)

doc
doc (@guest_786647)
July 22, 2019 16:12

Cheers; that worked. Would be nice if this site just provided similar non-pay-wall links. Unless we’re to assume that such links are an advertisement.

doc
doc (@guest_786786)
July 22, 2019 20:32

I saw plenty of News organizations reporting on the Equifax settlement. Since it wasn’t an exclusive, it would just be courteous to link a public link.

doc
doc (@guest_786876)
July 22, 2019 22:59

You tell me, since you seem to be advocating for WSJ, for no apparent reason. This isn’t the first time you’ve posted paid links instead of free ones, either. It’s inconsiderate of the readers.

doc
doc (@guest_786890)
July 22, 2019 23:22

Same reason I don’t read the WSJ, or is that irony lost on you along with the solution to just post free links for Christ’s sake?

Do you not know how to do it? Or, do you expect readers to do extra legwork to read paid articles that you post?

Do you consider yourself an elitist? If you subscribe to outside paid sites than everyone else should, or to heck with them?

Are you getting paid by WSJ to repeatedly post paid links that don’t turn out to be exclusives?

Or, are you unable to take legitimate criticisms, and truly want readers to all fall in line, or go elsewhere?

doc
doc (@guest_786901)
July 22, 2019 23:50

Just because you read something in the WSJ doesn’t mean the article was an exclusive, therefore there is no credit due. Just check the AP or something. In fact, I’d be surprised if WSJ doesn’t identify their own articles with an “exclusive” moniker, if and when that actually applies.

If you post an exclusive, that’s justified. But, just because you subscribe to the WSJ, and cannot be bothered to link an open link to an article for public consumption… readers shouldn’t have to deal with that inconsiderate modus operandi.

I haven’t accused you of anything. I’ve asked why you keep posting paid links? Does the sheer self-serving convenience (to you alone) outweigh what is being presented here to you? Or, do you not seem to understand what happens when people click on paid links? Newsflash: They don’t get to read the article, unless they sign up for the WSJ.

So, whether you get paid to shill for WSJ, or you do it of your own volition, out of the kindness of your heart to WSJ, and Not for your readers; you’re still doing it… for no apparent reason, other than to annoy non-subscribers, which just so happen to be readers to this site. Or, is this site intended to be on a subscription basis, as well?

doc
doc (@guest_786911)
July 23, 2019 00:04

Fair enough. Be yourself – in permanence. No need to adapt and improve.

But hey, at least you’re honest about that.

havai
havai (@guest_786398)
July 22, 2019 11:20

Thanks for passing along VFTW’s report on that outrageous cancellation policy of some hotel chains. (Good that Gary could help this badly treated customer, but wow…. the whole industry goes to shame over this. (if it’s really as “common” as Gary claims) I’ve been reading avidly from the miles & points bloggers for a decade, and I don’t remember once reading about this dire cancellation penalty arrogance.

Concur with your judgment in full: “if an non-cancellable award stay is cancelled, the points should be forfeit” — and “any sane person would assume (that’s how) the system works rather than having to pay a fee of $7,000” Bingo.

Still, what a warning. I was tempted to open up a new Hyatt cc. Not any more.

MoreSun
MoreSun (@guest_786359)
July 22, 2019 10:18

FYI Reuters – the Amex Platinum is not battling the Citi Prestige. Citi Prestige has left the building in shame.

Frank
Frank (@guest_786370)
July 22, 2019 10:45

It’s also not battling the CSR — the CSR is the up and coming Yuppie card that could make sense for a variety of people with moderate income (if you have moderate income, you’ll like get $300 of value from fleixble travel credits making the net fee $150 which can be worth it for lounge access and earnings on food/travel spend). The amex plat is for the moderate+ income flyer who is regularly flying and prefers staying in hotels. They get great value from lounge access and will use the Uber credits no problem. It’s someone who wouldn’t hesitate to shop at Saks for a normal purchase.

Frank
Frank (@guest_786355)
July 22, 2019 10:09

I am excitedly waiting for Amex to start boosting their rewards program….oh wait the article say they already have…. I guess clawing back millions of referral MR, denying people the ability to sign up for cards with a bonus and blocking GC purchase credits count as improvements? Just not sure where the expense part is….

(Obviously this is disingenuous)

MoreSun
MoreSun (@guest_786360)
July 22, 2019 10:19

Take your logic elsewhere

YoniPDX
YoniPDX (@guest_786363)
July 22, 2019 10:24

All I can say is ‘ Churn baby, Churn’.

Matt
Matt (@guest_786379)
July 22, 2019 11:03

They’re spending significantly more on maintaining their Delta co-brand partnership. That is not the same as Amex “boosting its rewards program”. I haven’t noticed significant change in Amex’s rewards program offerings in the past couple years. I suppose the PRG revamp might be a cost center, but they also raised the annual fee across their card portfolio and have a monthly incentive to use the card.

All I really see are cuts. Cuts to the value of Priority Pass. Cuts to referral and signup bonuses. Cuts to creative use of the airline credit *cough*.

Amex always had a cadre of people who used their cards with high spend earning 1 point/dollar and they’re being forced to get with the times and offer competitive spend rewards + fringe benefits.