Maybe. But if points cost partners more, and the partners also value them more (because customer demand rises), then maybe bonuses and conversion rates don’t have to be reduced?
Need an economist to chime in on this one.
"changes are expected to focus on improving member engagement, increasing the value of a point to partners. Over time, these higher billings are expected to offset the higher program cost and lower breakage"
So, Qantas plans to sell more points at a higher price to partners (banks etc) to...
I literally just sorted this out. Amex were not helpful so I contacted Priority Pass via the contact form on their website. Took a few weeks but the expiry date is now updated.