- SPECIAL GUEST: Hear Nomadic Matt Talk About His Experience Testing Positive For COVID-19 by Pizza In Motion.
- Another Possible Risk Factor for U.S. Airlines: Credit Card Holdbacks by Skift. It makes sense for the processor to do holdbacks currently, especially because airlines are refusing to refund consumers when they should be. If airlines were doing the right thing this would be less of a risk and processors would less likely to be forced to consider holdbacks. Airlines will have nobody to blame but themselves if this happens – although I’m sure they will try to blame somebody else anyway and hey maybe another government handout while we are talking about it.
- Airlines Could Start Facing Legal Challenges Over Withholding Refunds by Skift. Normally theft does have some legal repercussions.
- Chipotle is offering free delivery on orders of $10+
Deals starting/expiring at the end of today or starting today (view the full deal calendar here):
- Chase Offers/BofA: Save 10% at Shoprite, Max $7 Cashback
- Staples.com: $15 Off $60 With Promo Code 60426
Deals starting/expiring at end of tomorrow:
- Meijer Mperks: $10 Off $150 Visa Giftcards
- Office Depot/Max: Buy $300 in Mastercard Giftcards & Save $13 Instantly
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Airlines (except Southwest) screwed their customers for too long. No sympathy here.
FWIW, I remember they heyday off free schwag, promotional bonuses money and goods, lot’s of Ad and marketing dollars -as well as lucrative MIR. Evaporate suddenly during the dot-com-boom, and lesser so before the great recession, but it think it is only a matter of time before we see it with the COVID19 downturn.
PSA –
I think that we could see some of the click thru cash-back sites disappear – or hold on to money (change terms to 180 days to cash out). So if you have funds sitting in Ibotta, or other sites that you can cash out. Do it now.
Cashing out MR/UR/TYP/RTR – that’s a tough call – I’ve been on the fence – I’ve burned a ton this past year – Cashing out five figures of points – while worth many multiples for Int’l premium cabins, I do think it could be years before we see the same amenities in F/J – that have been offered past several years. I think we may see mainly lay-flat premium cabin with limited extra’s -like is currently offered on the remaining flights – Think basic economy – but basic business limited frills or award resumptions on this saver business fare tier –
EK had offered a ala carte three/four tier Business ticket Special, Saver, Flex and Flexplus.
I also think that airlines that survive will mothball or retire older planes – and push deliveries of new planes out a few years. Even though business seat have been bread and butter of airlines and not the meat and potatoes for many Int’l carriers – many Corporations will force employees to fly PE or economy for the foreseeable future.
That said the MR/UR/TYP/C1 as a FF transfer currency, 4-12cpp days I think are in the past -and the out sized value – vs cash may not return the bang for the buck that it did -same with premium cc AF vs Value.
This is just my humble opinion.
I doubt the US Government will let any banks fail, so bank rewards programs are likely in good shape. Considering that Amex and Chase have issued endless 1099s for their point bonuses, I think there is a solid argument that they are worth real money and consumers will have no trouble with a class action lawsuit against them if they try to take away or devalue cash redemption options. For now there’s no reason to cash out since that cash value is safe, unless you have the Schwab Plat and want 1.25cpp. Other banks, like Citi, may be left to the mercy of the fact that they own too much low grade debt, but I still doubt the money-grubbing politicians will let them go under either.
Most of us have already figured out that airlines won’t make it. I’m not sure why people aren’t saying it more; maybe they’re worried about people rushing the rewards banks and cashing out their points for all the good merch? It’s pretty clear that airlines are going to beg for another bailout and not receive. United looks like they’ll be the first to file chapter 11. Do you think that their limited redemption MileagePlus program based on a non-fiat currency is going to be high on the list of debts they have to repay?
Boeing begged for a bailout too, so who knows what the future of air travel is. Probably trains. The future of air travel might be trains. Invest in Amtrak maybe?
I’m holding on to my hotel points because I might need to put up myself or the in-laws out of the house for a night or two so we aren’t at each other’s throats. Also, hotels own real estate, so even though they will be affected by the looming housing crisis, hotels chains are not going to just evaporate. I’d hang on to these points and expect a serious devaluation, or maybe an acquisition that nets you a point bonus.
TLDR; Consumers should wait for the markets to decide the fate of airlines before they cash out URs and MRs. But airline miles are going away soon. If you can’t convert miles to cash, then get the next best thing.
Condolences about the in-laws. I expect that if COVID-19 doesn’t wipe most of us out, perhaps our fellow domestic inmates will.
If the future of travel is trains, then I’d say we’re pretty f*cked. While other countries already have high-speed rail, long-distance rail travel in the U.S.is slowly fading into obscurity because the dinosaur infrastructure is too old to support anything newer.
I’ll start ordering from Chipotle when their assembly line employees start wearing masks and their line cooks stop sweating all of their bodily fluids into the grill.
Sadly, I doubt that too many small claims court judges are going to have sympathy for the Goliath Airline vs David person that lost their job(s) and needed to pay rent, COBRA, food, Rx, etc with money from that cancelled flight(s).
Yet, if the Airline goes Chapter 7, any judgments and vouchers could end up being worth the paper they are printed on (e-voucher printed on proverbial paper) .
“although I’m sure they will try to blame somebody else anyway and hey maybe another government handout while we are talking about it.”
Reminds me of a blonde fat ugly guy that is in the news a lot.