If I was still seriously in this game, I’d be annoyed at the fee hike, but ultimately would still pay it, as the redemptions we’ve had over the last decade or so with the voucher (F to NRT, PVG, PEK, CPT, LAS; J to MRU and TFS, all ex GLA and none with any serious availability issues) I value at greater than £250.

But I’m not - COVID and a new baby have put paid to that. I closed my BAPP last year (well, downgraded it to the free one as it was easier than arguing with them about why I really, really wanted to cancel - but I don’t use it), and diverted all my spending onto the premium cash back card. Two vouchers and about 200k Avios left to use somehow, but then that’ll be me for now! I suspect I won’t be the only one.

As for the free card - well, there’s clearly A market for these sorts of cards, VS has one with a voucher for Y I think, but I don’t think it’s the market they’re really after.