It wouldn't be a many-months thing to review and update these kind of contracts, especially if sticking to a law firm that has done this kind of thing before. If it takes that long to review and adjust, the lawyers don't know what they are doing and the client is paying for their education. If it goes into many months or years to review and revise, it's not because the legal side should require that much time; it would be because the business/negotiation side can't get the financials agreed upon.
Originally Posted by
happychic
Really makes you wonder what's going on with the Radisson Rewards program. It just feels like one negative change after another.
It could be that Radisson is trying to renegotiate a new contract with this bank card issuer, to negotiate with another bank card issuer, and/or to negotiate with Visa/Mastercard/Amex in order to try to get better terms for Radisson; but in the meantime (and even perhaps beyond) it is stuck with the legacy customer card arrangements/installed card customer base for the current Radisson Visa card until the following conditions are met:
1) the original contracts are over; and/or
2) all involved counterparty/counterparties give the go-ahead to terminate the arrangement.
Maybe Radisson even wants to get closer to getting entirely out of the affinity card market business, but that would seem to have the potential to be one of those kind of "cut your nose to spite your face" moves. [Carlson/Radisson has a history of doing that to itself, so who knows with these folks.]
It's not all that unusual for some affinity bank card products to continue to be around with some legacy base customers even years after that very affinity product is shut down for new account holder openings.
The banks try to really tie down the airline/hotel loyalty program owners/operators for as long as possible when it comes to the airline/hotel affinity card products, and the contracts reflect both the power balance/imbalance between bank card issuer and their affinity card partners. Part of that is by putting in brake-stops to make the exit harder, slower and more costly for the card-issuer's affinity program partners.