I have a Premier sitting on 500k points from the old PayAll days.
On changes webpage Velocity is going to 3:1 (from 2.5:1 ??) and a 40% point bonus based on that one example.
The direct email to me does mention Premier account, and it does have that line:
The number of points you need for rewards redemptions will increase. We’ll make a one-off adjustment to your existing balance, so you’ll get similar value onpoints you’ve already earned
I called MyCard and was bounced around a bit between the Cards team and the Rewards team and unfortunately neither of them knew any specifics regarding whether velocity redemptions are staying at 2:1 and how much one off points bonus we will get.
Two different people from the Cards team were utterly and completely clueless and kept reciting the earn rates to me.
The guy from the Rewards team understood my question and was very apologetic, but said they themselves had no information beyond "there are some changes happening on Oct 1".
My gut feeling is that we should assume the worst. If 2:1 is here to stay then the post-changes effective earn rate will be 0.75 velocity ppd, which seems too generous in the new era of 0.3-0.5ppd cards.
If velocity goes to 3:1 but we get a 40% points bonus that is still a ~6.67% devaluation (140% * 66.7% = 93.33%)
Given that there is a 20% transfer bonus now I think if no further announcements are made in the next week or two I think it is best to shunt it all out now.
On changes webpage Velocity is going to 3:1 (from 2.5:1 ??) and a 40% point bonus based on that one example.
The direct email to me does mention Premier account, and it does have that line:
The number of points you need for rewards redemptions will increase. We’ll make a one-off adjustment to your existing balance, so you’ll get similar value onpoints you’ve already earned
I called MyCard and was bounced around a bit between the Cards team and the Rewards team and unfortunately neither of them knew any specifics regarding whether velocity redemptions are staying at 2:1 and how much one off points bonus we will get.
Two different people from the Cards team were utterly and completely clueless and kept reciting the earn rates to me.
The guy from the Rewards team understood my question and was very apologetic, but said they themselves had no information beyond "there are some changes happening on Oct 1".
My gut feeling is that we should assume the worst. If 2:1 is here to stay then the post-changes effective earn rate will be 0.75 velocity ppd, which seems too generous in the new era of 0.3-0.5ppd cards.
If velocity goes to 3:1 but we get a 40% points bonus that is still a ~6.67% devaluation (140% * 66.7% = 93.33%)
Given that there is a 20% transfer bonus now I think if no further announcements are made in the next week or two I think it is best to shunt it all out now.
