Posted by William Charles on July 22, 2019
Recaps

Published on July 22nd, 2019 | by William Charles

21

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

 

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Frank

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

Take your logic elsewhere

YoniPDX
YoniPDX

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

Matt
Matt

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.

MoreSun
MoreSun

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

Frank

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.

havai
havai

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.

doc
doc

That Equifax article is behind a pay wall.

diggs
diggs

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

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

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.

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