I just received the following info regarding my NFCU Flagship Visa card (and I'm very happy about it). Changes automatically kick in on 5/22/13 1. Now earn 2 pts for every dollar spent instead of 1 pt/dollar. 2. Once program kicks in they will double any existing pts (there is an * after this so ill need to get some more info). 3. The old cap of 120k pts/year has been removed. 4. Pts never expire as long as you have card. 5. Airline redemption simplified. "Determining how many pts you'll need to redeem for airline tickets is as simple as adding two zeros to the cost of your ticket. Ex ticket cost $375 points 37,500 ticket cost $500 points 50,000."
Ps. Sorry about formatting. On iPad.
Can someone explain to me how this is huge? Didn't they just double the price of everything so it's essentially the same deal? Besides the removal of the points cap, what has actually changed?
@Anonymous wrote:Several posts about this in the last few days (I would say search is your friend but that makes me want to puke!), e.g.
http://ficoforums.myfico.com/t5/Credit-Cards/Nfcu-flagship-now-2/td-p/2154901
And we always have the same question, what really changes, as it looks like points double but so do redemption costs.
Not sure if this post was directed at me but I know about the other threads. I was asking if the OP had an answer to my specific question. OP appears to think this great, I was wondering why he/she felt that way.
@unc0mm0n1 wrote:
@Anonymous wrote:Several posts about this in the last few days (I would say search is your friend but that makes me want to puke!), e.g.
http://ficoforums.myfico.com/t5/Credit-Cards/Nfcu-flagship-now-2/td-p/2154901
And we always have the same question, what really changes, as it looks like points double but so do redemption costs.
Not sure if this post was directed at me but I know about the other threads. I was asking if the OP had an answer to my specific question. OP appears to think this great, I was wondering why he/she felt that way.
I posted about this on friday as well. I also think the changes are great! On the flip side, it costs more to redeem points for travel-(air travel only) a la Ventureone style. You can still redeem $1000 off cruises for 50K points or $2000 off for 100K points. The other redemption options dont change at all. Gift cards, cash back, annual fee credit. You can still redeem 100K points for $1500 casg back.
In summary, automatically doubling your current points, and now earning 2pts per dollar spent instead of 1pt/$1 is a great upgrade. Hoever, it will cost more to redeem points for air travel.
Starting Score: 501
@Anonymous wrote:OK, thanks, that's a good explanation of why it is exciting! So everything, with the exception of air travel, now needs only half the previous spend...
Exactly!