TheDapperDon

Having read FM's post and the Citi shut down thread today, I've come to the following conclusions:

1. The days of heavy churning may be numbered as banks are more savvy about rewards and have devalued the points earning abilities of many cards
2. 5x points or 5% earning cards will continue to dwindle in number
3. Bloggers need to be called out for repeatedly showing the nuts and bolts of deals. FM in particular is now saying that he won't use Citi to churn anymore, even though he has been the main people publicizing it.
4. It makes sense to churn using more than a handful of cards to help fly under the radar. I've come to realize that using different cards at several different banks helps keep my balances in check and way under my credit limit.
5. The creation of petitions against Citi will probably call attention to the product that we all like to by for dessert and may cause a national shut down of the ability to purchase that product with CCs
6. Fewer deals will be shared on public forums due to the bloggers not using discretion. Ultimately, we will have to work harder as individuals to find deals.
7. Deals that are shared will have many more code words used, and specifics will be discussed in PMs.
8. Citi is sending out the updated offers for their TY cards so they can phase out the Forward card , and cover themselves legally if folks are churning their products.
9. 2% will be come the new 5% for rewards.

This is just my two cents.

nwflyboy

And that would be the best thing to happen since The Mint.

LoveMountains

IMHO, it all depends on where we are in the economic cycle. Banks were in a pretty bad shape during the last crisis, so they were looking for various "innovations" to get new customers and let people spend $$. (unfortunately for me, I've missed a big part of that).

But in the last few years, economy has been improving. CITI/Chase/AmEx has been reporting record profits and they are not interested in new products to get the new customers anymore. If people are spending $$$ on existing cards, why bother to offer new deals and loss leaders?

Bottom line - I think good deals will come back after the next recession. So, wait a few years for the new "good times".

bobfather

The deals will be back just in time for everyone blacklisted by Citi to be forgotten about!

KYBOSH

Dan, I am 100% convinced that the bloggers are members on these boards that are held in high esteem. They aren't lurkers or occasional posters. They have unsuspectedly infiltrated the public boards and private PM conversations as they have been around for years. Asking them to stop posting would be like asking you to walk out on your SO.... today. If they stop or cut back, their web traffic will dwindle... food will be yanked out of their red headed step children's mouths. Also, some of the most forehead-slapping security leaks dont come from the bloggers themselves but the comments section. All they have to do is sit back and wait for the masses to offer up free information. It effectively becomes a Wiki page for churning activities.

If I were a blogger with any decency (you gotta use your imagination here folks) I would say... I wont divulge any good stuff but if someone posts it on the comment section then I'll have to incorporate it into the article because the cat's already out of the bag. Within hours/days some loose lipped sailor would have put the whole thing out there.

jonnyd13

A lot of you all act like this place is the only source of information for bloggers and the types...you're very misinformed if that is your belief. Yes, there is a ton of information here, but ice cream, GDs, GW, blahblah, insert code word here, I'm a jerk, and all this stuff would have been discovered and leaked whether it was discussed here or not.

That being said, I agree that things are getting much more transparent and that 2x may become the new 5x within the next couple years. 50k offers are probably the new 100k offers. Bloggers still won't care because they'll make some cash on the side. Citi, or Chase, or Amex still will not care about a handful of petitions about people losing their points.

Then...................the economy will crash again and banks, hotels, airlines, flea markets and whoever else will bump up their deals to get consumer spending up again. It's called economy.

jmw

Citi basically thinks this stuff is fraud. It reeks of money laundering as well.

Many ad networks don't like being tied to fraud. It is against terms of service. Have you seen an ad for medicinal marijuana or offshore prescription drugs? Google ads won't have po*n even though p*rn is legal.

They would like to know if the content of a publisher is "objectionable." There is a form from Adsense to submit for content violations.

I think the days of the bloggers are numbered as well just like 5x is going away. The banks will eventually make the connection as well and stop paying the affiliate commissions.

augustus21

Banks will still develop new products to get new customers, regardless of the economic climate. The type of customer they're after, though, changes with economic conditions.

Chase has undergone the most dramatic shift. They're still the biggest issuer in the United States, but they have begun to aggressively market to the affluent consumer that has been the bread & butter of American Express. The Sapphire Preferred has been their answer to the Amex Gold (and some would argue the Amex Platinum as well). They have challenged Amex on the business-front with their Ink line. These are new products, introduced after the recession began, that are aimed at new customers.

Things are going to change. Opportunities to manufacture spending will disappear. New ones might crop up. This is the nature of the game. Just roll with it

prasha11

Bloggers are used as promoters/marketers by the banks/credit cards. Its wrong perception here(imho) that they are picking up ideas/secrets from these forums and are spoilers .The banks/Credit cards use the forums to navigate and direct the success of their promotions / plans / projects. A product / program is discontinued only because it has reached or failed its goals. Its interesting dynamics, and will continue with ups and downs, so keep talking

Often1

It's not worth the costs of compliance (filing SARS) and the regulatory risk. Match that against the target demographic banks seek as customers these days and you can see why it's being killed off.

ricohitman

Disagree with everything you said. Nothing will change except the value of our points. (which will ultimately go down).

nwflyboy

Oxymoron.

maijojacob

I think its just part of the game. When Mint died something else came up. When this new thing will stop something else will come up. It's just part of cycle. Be part of the game.

No point in getting worked up about it. If Manufacturing stops then CC sign ups might increase.

shel

+1

corporations are run by the same human beings that are both greedy and fearful. some are in fearful side right now, while some are in greedy side.

jatink129

This has to be some sort of FlyerTalk phenomenon.

Start a thread about ANY topic under the sun.
Person A mentions bloggers.
Person B bashes bloggers.
Person C defends bloggers.
Thread devolves into chaos.