- Redcard Shutdowns, my gut feeling is that these aren’t legit e-mails but who knows:
- Real or hoax? Your Target Prepaid REDcard Account has Been Closed by Frequent Miler
- American Express Shutting Down Target Redbird Accounts by View From The Wing
- Cheapest Miles to India & the Middle East by Travel is Free. My brother has just recently moved to India for work, so this is a useful and timely list of my options.
- Evolve Money: Scheduled Credit Card / Gift Card Payments Post with No Fee by Travel is Grant. Good to see that those who scheduled payments in advance are not being hit with fees.
- Citi and Mastercard Expand Relationship: New Card Products Coming Soon? by Miles Remaining. Bit of a strange announcement considering they just inked a deal with Visa for the Costco card.
no one can say with certainty atm that the email is a hoax BUT from what I’ve been reading, it has the same effect on people when amex OBC Blue Wednesday occured. Lots of OBC customers quit using their CCs for fear of triggering a closure of their account based on ‘rumors’ that turned out to be real. All that is history now with a lot of shutdowns that went on till end of December 2014 just before amex started sending out the changes to cardmember’s agreement indicating the cap. I survived the shutdowns and I admit that I ‘lost’ some opportunities since I didn’t max out my CL during the confusion on what caused the shutdowns except for those they deemed as heavy hitters, although some of them also survived according to some posts. I’m glad my account is still active but I I’m walking on eggshells when using my card.
RB is an amex product and we will see in the next few days if this turns out everyone’s nightmare.
The trend on several boards is toward deal preservation. With all the big shutdowns over the last year people are scared that hyping the gravy train is bad for longevity.
How much you wanna bet this is a group from a non-public board trying to put the brakes on Redbird abuse to make it last longer?
(commenting here cause FM already has too many 😉
There are a bunch of people out there who feed misinformation about deals, to confuse people into not taking advantage of them. I find it shameful.
And it’s entirely possible that’s the case here. It does seem strange that the letters are so specific, and name specific amounts, that doesn’t seem like what American Express would do.
But if it’s a hoax, it’s an elaborate one, with several different emails being produced and sent from multiple email accounts and multiple names being used to comment from to bolster the claim this is happening.
I’m not sure it should change anyone’s behavior, even if it is (other than perhaps to load and unload in different amounts, and certainly as a reminder never to put more money on cards like this than you can afford to have held for 2-3 months before you recover it).
My main hesitation is that nobody I know/trust personally has received an e-mail, that could be because it’s a hoax but it could also be that this is just the first round of e-mails/not many people have been shut down. Fingers crossed it’s just a few idiots trying to cause a panic but I suspect the redcard gravy train will come to an end at some stage.