Chase (may be) looking to end "Travel hacker" trifecta

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yfan
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Chase (may be) looking to end "Travel hacker" trifecta

Postby yfan » Mon Jul 17, 2017 4:07 pm

By the way of MF by the way of Doctor of Credit (by the way of Reddit)...

Chase is basically looking at ending the ability to transfer cashback points to UR points at full value. They sent out a survey giving the survey-takers 3 options:

- Transferred points will stay at their original value (i.e. no 1.5 cpp redemption)
- No transferring
- Transfer at 2/3rds value and then get usual benefits of points in new account (incidentally, 2/3 * 1.5 = 1)

http://www.doctorofcredit.com/chase-sen ... demptions/

It certainly is an open question whether anything will come from it. But I can't say I blame Chase for doing this if they in fact do. Cashback products may not have been intended for the benefits of AF based UR cards to begin with, and now enough people have taken advantage of it that Chase is looking to explicitly change the rules. As for whether they will lose business or customers if they do this, I think Chase is betting that the customers they would lose are the ones costing them the most in the current transfer system, and they are happy to rid themselves of those customers.


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CarefulBuilder14
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Re: Chase (may be) looking to end "Travel hacker" trifecta

Postby CarefulBuilder14 » Mon Jul 17, 2017 4:23 pm

yfan wrote:- Transferred points will stay at their original value (i.e. no 1.5 cpp redemption)
- No transferring *between AF and no-AF cards...so Freedom would just be a plain 5% cash back card*
- Transfer at 2/3rds value and then get usual benefits of points in new account (incidentally, 2/3 * 1.5 = 1)

If they do any of this, it's a clear "Freedom Unlimited" message to us customers. :(
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

augiedog
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Re: Chase (may be) looking to end "Travel hacker" trifecta

Postby augiedog » Mon Jul 17, 2017 6:33 pm

I just got the Freedom Unlimited. Already have had the Freedom for a long time. Don't like how points aren't pooled into the same account, but being able to transfer points was very useful. Also having received points from other family members has been useful for meeting the $20 minimum. I like the first and second options, third option devalues points and feels like a ripoff.
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CarefulBuilder14
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Re: Chase (may be) looking to end "Travel hacker" trifecta

Postby CarefulBuilder14 » Mon Jul 17, 2017 6:52 pm

If Freedom points can still be transferred to partners 1:1 via an AF card, that would keep a lot of value. I'm not sure if that would still be an option under case #1.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

yfan
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Re: Chase (may be) looking to end "Travel hacker" trifecta

Postby yfan » Mon Jul 17, 2017 11:17 pm

CarefulBuilder14 wrote:If Freedom points can still be transferred to partners 1:1 via an AF card, that would keep a lot of value. I'm not sure if that would still be an option under case #1.

I doubt it. The first option seems to allow the transfer to an AF card but under the terms of the non-AF card, that is, not transferable (only cashable) points. Citi does this. There are multiple types of TY points (from CC and bank accounts) and the characteristics of one type of point does not transfer to another.

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CarefulBuilder14
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Re: Chase (may be) looking to end "Travel hacker" trifecta

Postby CarefulBuilder14 » Tue Jul 18, 2017 1:45 am

yfan wrote:
CarefulBuilder14 wrote:If Freedom points can still be transferred to partners 1:1 via an AF card, that would keep a lot of value. I'm not sure if that would still be an option under case #1.

I doubt it. The first option seems to allow the transfer to an AF card but under the terms of the non-AF card, that is, not transferable (only cashable) points. Citi does this. There are multiple types of TY points (from CC and bank accounts) and the characteristics of one type of point does not transfer to another.

So under cases #1 and #2, Freedom becomes a plain 5% cash card?

While under case #3 Freedom can earn either 5% cash or 3.33x "full" URs?

This sounds worse than Amex's old MRE/MR/MRF system! That was just as messy (from what I've read), but at least points could be upgraded.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

yfan
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Re: Chase (may be) looking to end "Travel hacker" trifecta

Postby yfan » Tue Jul 18, 2017 11:57 pm

CarefulBuilder14 wrote:So under cases #1 and #2, Freedom becomes a plain 5% cash card?

While under case #3 Freedom can earn either 5% cash or 3.33x "full" URs?

Sure sounds that way to me.

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CarefulBuilder14
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Re: Chase (may be) looking to end "Travel hacker" trifecta

Postby CarefulBuilder14 » Thu Jul 20, 2017 10:23 pm

I have to wonder if they'd be considering/doing this if they had never introduced the Freedom Unlimited and/or CSR. With the regular Freedom and CSP, the total effect of point transfers was limited.

Whereas they might be really focused on the Freedom-and-FU-to-CSR people, relatively modest Freedom-to-CSP people would get hit, too.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

Tubpbs
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Re: Chase (may be) looking to end "Travel hacker" trifecta

Postby Tubpbs » Sun Jul 23, 2017 10:40 am

CarefulBuilder14 wrote:I have to wonder if they'd be considering/doing this if they had never introduced the Freedom Unlimited and/or CSR. With the regular Freedom and CSP, the total effect of point transfers was limited.

Whereas they might be really focused on the Freedom-and-FU-to-CSR people, relatively modest Freedom-to-CSP people would get hit, too.



Let's hope they don't pursue it and forget about the bleed and move on.
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