Recap: Rewards Cards Fanatic Following, 2018 Data Breaches & More

 

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James B.
James B. (@guest_698949)
January 2, 2019 14:23

According to the WSJ: “The bank agreed to pay The Points Guy each time readers visiting the website started an application and received the card. The site earned millions of dollars from the card in the months after it was introduced.”

Affiliation links can be a big money maker.

Sam
Sam (@guest_698849)
January 2, 2019 11:25

If Chase stops points pooling, then my everyday spend card is not going to be the FU card anymore. Plus I’m going to value my Discover card higher than my Freedom card.
Totaling, much less spending on my Chase cards.

Dylan
Dylan (@guest_698858)
January 2, 2019 11:34

I always MS both my freedom and discover card for the categories and am a caah back person so pooling wouldnt affect me.

I dont see chase pulling point pooling altogether, its far too integral to their card lineup.

Now I could see them doing something like changing the minimum amount of points you can transfer or something.

Brandon
Brandon (@guest_698868)
January 2, 2019 12:06

After they just removed the min redeeming requirement on their cards? I don’t think so. I expect it to be business as usual. I could see them devalue the transfer rates and make their travel portal the only consistently high redemption area.

Frank
Frank (@guest_698803)
January 2, 2019 10:24

The fastest way to get regulation on data breaches would be for someone to post a summary of a Senator’s travel from 2014-2018 from the Marriott data breach — nothing gets congress moving faster than when they are affected.

JSolo
JSolo (@guest_698847)
January 2, 2019 11:21

+1
I understand that during this government shutdown, they’re still being paid. Maybe they are not considered federal workers because they are elected officials?

tuphat
tuphat (@guest_698775)
January 2, 2019 09:46

From the WSJ article —

The Sapphire Reserve card proved great for business for Brian Kelly, who started the rewards website The Points Guy as a hobby in 2010, while working in human resources at Morgan Stanley .

His website helped spawn an ecosystem of rewards fanatics across the internet who swap tips about card deals. The banks covet his favorable reviews of their cards and often turn to the site to promote them. In December, Mr. Kelly hosted a card awards ceremony in New York City, sponsored by JPMorgan, Wells Fargo and others.

JPMorgan had approached Mr. Kelly in spring 2016 to ask how his company would market an upscale card it had in the works. He learned more details about the card, which turned out to be the Sapphire Reserve, a couple of months later while on vacation in Tanzania with his parents. The bank agreed to pay The Points Guy each time readers visiting the website started an application and received the card. The site earned millions of dollars from the card in the months after it was introduced.

tuphat
tuphat (@guest_698772)
January 2, 2019 09:44

Factoid from WSJ article: “As of the third quarter, JPMorgan’s credit-card holders had accrued $5.8 billion in rewards they had not yet redeemed, up 53% from the end of 2016, according to securities filings.”

ehlee
ehlee (@guest_698898)
January 2, 2019 12:48

That doesn’t mean anything. Usually it’s just that consumers are waiting to accrue more points before redeeming them for flights or hotels.

NinjaX
NinjaX (@guest_699074)
January 2, 2019 17:35

what? yes that means something. its 5.8 billion with a “B” in liabilities…