I was trying to apply for a NEA mastercard for the great travel benefits, but it seems that they have changed the card entirely, with no travel benefits. I looked here http://www.neamb.com/credit/ccptrv.html
Am I missing something?

Your input is greatly appreciated.

Heads up everyone! They have changed the rewards structure for the NEA card. Starting Dec 30, 2001 awards will require far more points than they currently do.

Examples:

TICKET W/IN CONTINENTAL US
Old: 15,000 (max $500)
New: 25,000 (max$400)

RT TO EUROPE
Old: 35,000 (max $1000)
New: 50,000 (max $800)

HOTEL:
Old: 3,000 (max $110), 5000 (max $200)
New: 5,000 (max $80), 10,000 (max $160), 15,000 (max $240)

Rewards may be redeemed up until Dec 30,2001 for travel thru Dec 2002.

For more info:
http://www.neamb.com/credit/crdtbltn.html

This is terrible news. It still may be better than airline points because they buy you a ticket which you can then upgrade with points, but this is going to take some figuring out if it's worth keeping my 3 cards.

This is TERRIBle news! This card has completely lost its competitive value. Needless to say, I will NOT be renewing!

: What's the best credit on which to earn air miles, etc??

i prefer the MilesOne card by CapitalOne. you can fly free for as little as 18,000 miles. the U.S. is broken into three zones. the card has an intro rate of 3.9%, goes to 9.9% fixed, and has a low annual fee of $19.

go to www.milesone.com

So, it WAS too good to be true...

We burnt 43,000 miles over new year's (airfare, hotel, car) on a splurge trip to Santa Fe. Now, before the devaluation, gotta burn the excess (uh, built a house over the last nine months) on an October trip to Florida.

I think I'm going to be sick! I am so sad to see this! This is (soon to be "was") an excellent card. These new changes are not reasonable. I could live with some increases, but these are gigantic leaps. Now,I don't see much in these new terms that sets the NEA card apart from all the others. I will be letting them know of my disappointment, and will be cancelling.....Let's all raise our voices and pay them back by hitting them in the only place they care about,........the checkbook!

Vivre le diference! CAll to whine, though I'm sure they won't change.

NEA's new terms took the card to my trash compactor.

Just read this post and I feel sick Am bitterly disapointed.

I have 2 NEA cards, a Master Card and a Visa. Last year I called to see if I could combine the points if I cancelled one of the cards and they said "yes". This will help me maximize my points.

Also reading the print just below the "new table" talks about a new feature called "Unlimited Worldwide Redemption Options". This feature allows participants who are already redeeming at least 25,000 points to redeem additional points at a value of $.01 per point. The points can be used for one of the following
1. a second ticket
2. The difference between the cost of the reward and the maximum value in cases where the cost exceeds the maximum value.
3. The incremental cost for an upgrade to 1st class
4. Cruise, tour, rail or other customized travel offered through Palladian Travel Services.

The way I see this is if I am redeeming 35,000 miles to go to Alaska, I can "buy" 35,000 pts for another ticket value worth $600 for $350.
Am I missing something here?

I will call them tomorrow to fully explain the "Unlimited Worldwide Redemption Options.

The way I read it is that each additional point that you redeem will be worth only $0.01, not the $0.016 you would get for the base award.

So if you want a RT ticket w/in the continental US that costs $500. The first $400 would require 25,000 points. The next $100 would require 10,000 points, for a total of 35,000 for the $500 ticket.



[This message has been edited by sheetz (edited 04-22-2001).]

Thanks Scheetz, just called NEA and I was reading the "Unlimited Worldwide Redemption Options" provisions wrong. The key word is REDEEM not buy. I can REDEEM points I already have at the rate of $.01 per point to help me PAY CASH for a second fare, the difference between cost and Manimum value or for an upgrade. Sounds like a very poor way for me to use my points.

I am still heartsick about all this. It is like loosing a best friend. In my phone conversation with a guy at NEA, he was open enough to comment that the reason the program was not working was that people were not using their cards in the "expected manner", that is, they were paying off their cards at the end of the month instead of carring a balance. He had a card himself and was feeling disappointed also.