topic Re: Amex SPG: Backdating if Amex sells us to Chase? in Credit Cards

Amex SPG: Backdating if Amex sells us to Chase?

PointLager — Tue, 19 Apr 2016 21:19:28 GMT

Once SPG is absorbed into Marriott and the SPG rewards program ends we can see either:

Existing cardholders are transferred to another Amex product (or given an option?)

All SPG Amex accounts are sold to chase and converted to Marriott cards

Amex SPG converts to an Amex Marriott card and continues to run parallel to chase. Similar to Barclays American Airlines setup.

Should option two take place and the accounts are moved to chase are they still backdated? And to which date? The date Amex actually opened the account (eg April 2014) or the account date reported on CR (eg April 1995).

Thanks

Re: Amex SPG: Backdating if Amex sells us to Chase?

Anonymous — Tue, 19 Apr 2016 21:25:10 GMT

Don't even talk about converting anything to Marriott. That's a nightmare.

Re: Amex SPG: Backdating if Amex sells us to Chase?

sponge_gto — Tue, 19 Apr 2016 21:27:07 GMT

I think I've seen data points of Jetblue or was it Costco card members losing their backdate when the card changed hands. No point worrying about this just yet in my opinion.

Re: Amex SPG: Backdating if Amex sells us to Chase?

PointLager — Tue, 19 Apr 2016 21:46:06 GMT

So the precedent favors the moving to chase scenario.

Ugh. I know a few folks whose SPG card is their only Amex. And now they can't change it to another Amex product.

Re: Amex SPG: Backdating if Amex sells us to Chase?

Anonymous — Wed, 20 Apr 2016 03:04:31 GMT

I'm wondering if we'll see PC options open up once Marriott picks a lender or two (i.e. one lender like Hyatt or two lenders like Hilton). Right now Amex is almost certainly trying to present itself as as strong as a competitor as possible.

Re: Amex SPG: Backdating if Amex sells us to Chase?

NRB525 — Wed, 20 Apr 2016 03:09:32 GMT

They've stated that any changes to SPG are not expected until 2018 at the earliest, so I'm staying focused on getting the best use out of my SPG status and points, not worrying about what will happen two years from now.

There are lots of options, but one of the values of the SPG brand they need to try to hold on to is the loyalty and points system. Not saying they will, but one can hope.

Re: Amex SPG: Backdating if Amex sells us to Chase?

UncleB — Wed, 20 Apr 2016 04:31:17 GMT

@sponge_gto wrote:
I think I've seen data points of Jetblue or was it Costco card members losing their backdate when the card changed hands. No point worrying about this just yet in my opinion.

It was JetBlue; it will be interesting to see how the new Citi Costco cards are treated. Although I don't have one, my 'fingers are crossed' for those who do.

http://ficoforums.myfico.com/t5/Credit-Cards/JetBlue-MC-amp-Barclays-Reporting-Bye-Bye-Backdate/td-p/4530768

Re: Amex SPG: Backdating if Amex sells us to Chase?

kdm31091 — Wed, 20 Apr 2016 10:36:08 GMT

@NRB525 wrote:
They've stated that any changes to SPG are not expected until 2018 at the earliest, so I'm staying focused on getting the best use out of my SPG status and points, not worrying about what will happen two years from now.

There are lots of options, but one of the values of the SPG brand they need to try to hold on to is the loyalty and points system. Not saying they will, but one can hope.

Pretty much this. There are no changes coming in the near future, and the merger isn't even completed yet. Personally, I wouldn't worry about it at this point.

As far as the backdate, some people did lose it with the Jet Blue situation, so it could go either way.

Re: Amex SPG: Backdating if Amex sells us to Chase?

PointLager — Wed, 20 Apr 2016 10:51:58 GMT

The other interesting question would be if the business SPG business cards follow? I haven't heard of Marriott business cards over at chase. Ink then? Or likely Amex does allow folks to change the business product

Re: Amex SPG: Backdating if Amex sells us to Chase?

SouthJamaica — Wed, 20 Apr 2016 11:22:24 GMT

@sponge_gto wrote:
I think I've seen data points of Jetblue or was it Costco card members losing their backdate when the card changed hands. No point worrying about this just yet in my opinion.

I am a JetBlue card holder and yes we lost the Amex backdate. But kept the Amex account opening date. The "member since" year disappeared, and the date we opened the Amex JetBlue card became the operative date from which account age was calculated.

Re: Amex SPG: Backdating if Amex sells us to Chase?

Anonymous — Wed, 20 Apr 2016 11:30:48 GMT

I'd expect to lose the backdate and pick up the actual open date. However, I'd wait and see what happens with the Costco card over the next couple months before making any assumptions.

Re: Amex SPG: Backdating if Amex sells us to Chase?

CreditCuriosity — Wed, 20 Apr 2016 12:34:12 GMT

Wonder if Amex has to sell portfolio to Chase even or if they might just decide to keep it? Kinda like Barclay's and City w/regards to AA. Not sure Amex wants to give up that card as they have lost a few other big partners recently as we all know

Re: Amex SPG: Backdating if Amex sells us to Chase?

PointLager — Sat, 23 Apr 2016 02:48:51 GMT

Would there be any antitrust issues here with chase having such a dominant market share of hotel credit cards if they do take legacy SPG accounts?

Marriott/Ritz
IHG
Fairmont
Hyatt

Chase seems to like exclusivity. Compare chase with citi/Amex. Both have Hilron cards.

Altbough whose pick would this be?

Those of us who are renewing now would have to pay yet another Amex SPG fee for the 2017-2018 term if we want to see what's going to happen to the accounts.

Would this affect churn-ability of Marriott card then? Would need to close it and start the 24m clock w
Chase.

Also if transferred Chase would have to take the full limit so those of us with significant chase CLs already maybe negatively affected future approvals.

Re: Amex SPG: Backdating if Amex sells us to Chase?

Open123 — Sat, 23 Apr 2016 17:11:20 GMT

Two possible scenarios:

1. Amex keeps the SPG as a legacy Marriott card, not unlike Barlcays Aviator.

2. The entire portfolio is sold to Chase, not unlike the Costco portfolio sold to Citi.

For Option 1 - For those who find value in the combined entity, keep the card and continue earning rewards. Otherwise, close it, since it's taking up valuable revolver space.

For Option 2 - Cancel Amex, and app for the Chase for a bonus. If allowed the transfer, then you'll likely not earn a bonus.

In either scenario, I'm assuming the merger will complete. I've moved on already and have (1) stopped using my SPG, (2) trying to bring my SPG points to 100K asap. While I may not mind risking 100K on SPG suddenly disallowing Airline (or, removing the bonus) transfers, I certainly will not on more.

In either case, it's best to have ZERO SPG during conversion.

Re: Amex SPG: Backdating if Amex sells us to Chase?

creditguy — Sat, 23 Apr 2016 17:36:17 GMT

Amex will probably just replace the SPG with another card, they can't afford to lose any more cardholders or maybe they won't, I don't know, after all this is just all speculation and I know as much as anyone here, which is really not much.

Re: Amex SPG: Backdating if Amex sells us to Chase?

PointLager — Sat, 23 Apr 2016 18:12:00 GMT

What's the story behind Amex vs Citi Hilton cards? Was either issuer exclusive at one point?

If Amex keeps a Marriott card they may mix up the earning structure to differentiate themselves from Chase

Given the choice I don't think that Amex will sell the portfolio because the SPG customer base is huge and given the larger footprint of the merged MR folks will want to keep the card since it will be hard to avoid MR hotels for most of us whose Corp insists on them

Re: Amex SPG: Backdating if Amex sells us to Chase?

Anonymous — Sat, 23 Apr 2016 20:56:24 GMT

It's 2016. What's this backdate you're speaking of...?