Possible impact on airlines credit cards miles
Oct 8, 2022, 10:00 am
#1
Original Poster
Join Date: Feb 2022
Posts: 24
Possible impact on airlines credit cards miles
https://thepointsguy.com/news/update-credit-card-competition-act/
This is apparently a real proposal that according to the link above may happen soon.
so thoughts about some strategies in advance of a potential change or what happens if the bill is passed
This is apparently a real proposal that according to the link above may happen soon.
so thoughts about some strategies in advance of a potential change or what happens if the bill is passed
Oct 9, 2022, 4:14 am
#2
Moderator: Manufactured Spending
Join Date: Jul 2011
Posts: 6,580
It's really hard to predict what will happen, but it is likely that credit card rewards will be significantly cut back because the competition in the market will mean less profits for issuers. I don't think any special strategy is needed, just wait and see what happens, and adapt to changing circumstances.
Oct 10, 2022, 4:09 pm
#3
Moderator
Join Date: Jun 2003
Location: Miami, Mpls & London
Programs: AA & Marriott Perpetual Platinum; DL & HH Gold
Posts: 48,958
Increasing competition between networks should affect interchange rates, but that's less than a third of card issuer revenue. I expect issuers will raise annual fees, penalty fees and interest rates to offset a reduction in their share of interchange, but the linked article does not present any reasoning or evidence to support the claim that rewards will be reduced, let alone eliminated.
Oct 12, 2022, 8:04 am
#4
Moderator: Lufthansa Miles & More, India based airlines, India, External Miles & Points Resources
Join Date: Dec 2002
Location: MUC
Programs: LH SEN
Posts: 48,187
The EU dis something similar in the late 2010s, capping interchange fees at 0.2-0.3%.
https://ec.europa.eu/commission/pres...n/MEMO_16_2162
The CC market continues to thrive, loyalty CCs still exist but annual fees for personal cards went up a bit and earning rates went down.
https://ec.europa.eu/commission/pres...n/MEMO_16_2162
The CC market continues to thrive, loyalty CCs still exist but annual fees for personal cards went up a bit and earning rates went down.
Oct 15, 2022, 5:59 pm
#5
FlyerTalk Evangelist
Join Date: Jan 2005
Location: home = LAX
Posts: 25,934
The EU dis something similar in the late 2010s, capping interchange fees at 0.2-0.3%.
https://ec.europa.eu/commission/pres...n/MEMO_16_2162
The CC market continues to thrive, loyalty CCs still exist but annual fees for personal cards went up a bit and earning rates went down.
https://ec.europa.eu/commission/pres...n/MEMO_16_2162
The CC market continues to thrive, loyalty CCs still exist but annual fees for personal cards went up a bit and earning rates went down.
The only hotel credit cards in the US for Choice Hotels is a no-AF card from Barclays.
The oldest hotel credit card in the US for Best Western is a no-AF card from FNBO, though they added an AF card too (after they took over Best Western cards from Barclays).
The oldest hotel credit card in the US for Hilton is a no-AF card from Amex, though a few years ago (when Citi stopped being the second issuer for Hilton cards), Amex added some AF Hilton cards.
Chase has focused on $95ish hotel credit cards which give a free night certificate of some sort every renewal year, which makes the effective annual fee under $0 for most people who have those cards.
But I know nothing about how hotel program credit cards were set up in the EU before and after that change.