Gold Passport survey--Diamond status w/50K spend? (Chase Credit Card)
Feb 5, 2015, 11:28 pm
#17
Join Date: Sep 2013
Location: Midwest
Programs: Hyatt Diamond
Posts: 757
Feb 6, 2015, 3:26 am
#18
FlyerTalk Evangelist
Join Date: Jul 2011
Programs: Hyatt Discoverist, SEIBU PRINCE CLUB Silver, Marriott Gold
Posts: 20,434
http://www.crmtrends.com/CreditCardP...dedCreditCards
There are three primary partnership structures that exist with banks (many deals involve a combination of some, if not all):
a) Volume Based: Merchant partner receives royalty payment on credit card sales volume (60 - 80 bps), and in some cases, new account bounties (Range from $5 - $100+)
b) Revenue Sharing: Merchant partner receives a share of the finance charges/late fees
c) Profit Sharing: Merchant partner receives a percentage (50 - 100%) of all profit above the bank's targeted return
While your co-brand consultant will be focused on the financials (after all that is how they are paid), it will be incumbent upon you to look beyond financials in reviewing potential bank partners. You not only want a vision and cultural fit, you will also want a customer fit. What we mean by that is, will your chosen bank give credit to your customers and will they give appropriate credit lines for your customers? This is an often over looked area in choosing a partner bank as consultants tend to get dazed by the outrageous sums of money garnered for solid brands.
a) Volume Based: Merchant partner receives royalty payment on credit card sales volume (60 - 80 bps), and in some cases, new account bounties (Range from $5 - $100+)
b) Revenue Sharing: Merchant partner receives a share of the finance charges/late fees
c) Profit Sharing: Merchant partner receives a percentage (50 - 100%) of all profit above the bank's targeted return
While your co-brand consultant will be focused on the financials (after all that is how they are paid), it will be incumbent upon you to look beyond financials in reviewing potential bank partners. You not only want a vision and cultural fit, you will also want a customer fit. What we mean by that is, will your chosen bank give credit to your customers and will they give appropriate credit lines for your customers? This is an often over looked area in choosing a partner bank as consultants tend to get dazed by the outrageous sums of money garnered for solid brands.
Feb 6, 2015, 4:15 am
#19
Suspended
Join Date: Jul 2001
Location: Watchlisted by the prejudiced, en route to purgatory
Programs: Just Say No to Fleecing and Blacklisting
Posts: 102,095
You could try to find your namesakes in the US and see if any such persons are willing to sign up to use a relevant credit card and deposit the points/awards in your loyalty program account. 
I'm joking, but this kind of thing has already happened at least once.
On a more serious note, I expect that Hyatt will want to incentivize spending way more money on the Hyatt credit cards than is currently the case. Something like Diamond for $50,000 of credit card spend would help Hyatt get what Hyatt wants to get from Chase Bank.
I'm joking, but this kind of thing has already happened at least once.
On a more serious note, I expect that Hyatt will want to incentivize spending way more money on the Hyatt credit cards than is currently the case. Something like Diamond for $50,000 of credit card spend would help Hyatt get what Hyatt wants to get from Chase Bank.
Feb 6, 2015, 8:57 am
#21
Join Date: Jan 2008
Posts: 3,577
Seems like an awfully large jump to go from currently giving your 20% of Diamond status for 40k in spend to getting full Diamond for another 10k. I mean, lets not kid ourselves. There are plenty of people who will just MS that 50k in a month. That is idiotic to offer. I don't mind giving 5 stays/10 nights at 40k like they do now. The card generates revenue sadly, and that is really the whole point of the game, but I don't think it needs to be any steeper than that.
And for those who think it is no big deal, I think the main opposition is from people who find that Hyatt Diamond historically has very great value and treatment for the customers, and they don't want it to become something more akin to IHG Plat or HH Diamond, which are far less valuable and have corresponding reduced benefits given their ease of acquisition.
And for those who think it is no big deal, I think the main opposition is from people who find that Hyatt Diamond historically has very great value and treatment for the customers, and they don't want it to become something more akin to IHG Plat or HH Diamond, which are far less valuable and have corresponding reduced benefits given their ease of acquisition.
Feb 6, 2015, 9:05 am
#22
FlyerTalk Evangelist, Ambassador: World of Hyatt
Join Date: Jul 2001
Location: NJ
Programs: Hyatt Globalist, Fairmont Lifetime Plat, UA Silver, dirt elsewhere
Posts: 46,919
Horrible idea. Just horrible.
this is on par with giving away diamond status at the start of a challenge.
this is on par with giving away diamond status at the start of a challenge.
Feb 6, 2015, 9:27 am
#24
Join Date: Oct 2014
Location: PA
Programs: Platinum SPG, Marriott Platinum, United 1K, Hyatt Diamond, Hilton Diamond, IHG Platinum,
Posts: 128
I actually like seeing Hyatt considering options for Diamond status and can understand why they ended the Diamond challenge promotion as that opened up the flood gates. However, $50,000 spend for Diamond would not attract me as other cards give far greater value for less annual spend.
Feb 6, 2015, 9:59 am
#25
Join Date: Sep 2011
Posts: 237
I would rather like the idea of getting 1 suite upgrade and free breakfast for two (or up to 4 - good for 3 days or something) for every $15,000 spent. Most people want Diamond for their great breakfast and suite upgrades so why not reward people for spending and hyatt gets people in their hotels. Just my random thought...
Feb 6, 2015, 10:01 am
#26
Join Date: May 2014
Posts: 378
I would rather like the idea of getting 1 suite upgrade and free breakfast for two (or up to 4 - good for 3 days or something) for every $15,000 spent. Most people want Diamond for their great breakfast and suite upgrades so why not reward people for spending and hyatt gets people in their hotels. Just my random thought...
Feb 6, 2015, 10:26 am
#28
Join Date: Apr 2010
Location: LAX
Programs: Hyatt Glob
Posts: 369
Feb 6, 2015, 10:38 am
#29
FlyerTalk Evangelist, Ambassador: World of Hyatt
Join Date: Jul 2001
Location: NJ
Programs: Hyatt Globalist, Fairmont Lifetime Plat, UA Silver, dirt elsewhere
Posts: 46,919
For some of them, spending $50k on a credit card is all in a months' work.
Feb 6, 2015, 11:07 am
#30
Join Date: Feb 2002
Location: New York City, Northern NJ
Programs: AS, AA, Hilton, Hyatt
Posts: 1,041