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I didn’t see this posted yet so thought I would share.
Per this article, Doctor of Credit talks about the possibility that the two creditors will work together to limit bonuses for the new SPG Luxury card that comes out August 1 and potentially new Marriott cards down the road. If this turns out to be true, I find it very troubling that the Amex and Chase are basically colluding to hold down the bonuses for new cards. You’ll be excluded from the the bonus on the SPG luxury card if you got a bonus for upgrading your Marriott card? Amex would only know that if Chase passes on the info (which also is rumored to include the Marriott business card). I understand creditors desire to limit churning, etc but they created this ‘mess’ in the first place to entice people to apply for their cards and now they’re going to share information to stop you from getting new ones? I will hate to see this if it comes to pass and shudder at the possibility of other creditors following suit. For example, Barclays won’t let you get the AA miles bonus on their Aviator card because you received one on a Citi card 9 months earlier. Thoughts?
I don't think Chase needs to pass on information. Marriott has all the information so if the two are combining they would be sharing SPG and Marriott databases.
From what I have read it will not include SPG personal or business cards so if you are under 5/24 you can get Marriott cards. They simply made Amex follow Chase's 5/24 rule. This maybe Marriott wanting to do this so there isn't a ton of double dipping SUBS, because w/ 3x SPG points out there their will be a flood of Marriott points coming which have to be put on their balance sheet.
To me, it depnds on which entity is responsible for recording the information, and paying out on SUBs. If it's coming out of Marriott's pocket, there's some logic to it. It would have the effect of commoditizing the credit card offerings, where a consumer's choice is driven more by Marriott brand awareness than AMEX vs. Chase preference. At that point, the card products are almost interchangeable, even though in theory AMEX's offerings are more upscale.
That would also free-up Marriott to go back to the vendors later and say "guys, we're going to add Barclays, or Cap1, or FNBO or who-knows-who-else to the mix, and push their Marriott cobranded cards too"...and this new vendor will be in the background, so the branding will be primarily Marriott, with the identify of the card issuer almost invisible. Maybe it's a long term branding push by Marriott to make the choice of card issuer irrelevant.
Ya troubling indeed.. Big Banks seems to never lose. Hopefully this information is coming from Marriott and not the two Lenders/Banks sharing information as the later is very troubling if indeed that is what is happening and raises all kinds of ethical/privacy concerns
Wow, this certainly sounds like collusion to my non-attorney ears. I certainly hope that the two financial institutions aren't privately sharing information between the two of them. That's one of the reasons we have three major independent consumer credit reporting bureaus, isn't it? If anything, I would say that bonus information likely would be coming from Marriott. Maybe this was something that was hashed out in the private negotiations that resulted in both Chase and American Express retaining their portfolios and continuing to offer them in the future.
If it's true, I do think it sets a bad precedent for other cobranding agreements. I can see the need to possibly crack down on very abusive churners, but for the general public this seems to be going to quite an extreme.
Even if it’s being spurred by Marriott don’t think for one second that Amex and Chase don’t have a role in the decision. I honestly don;t care what entity is calling the shots, I still think it’s a troubling move.
@Anonymous wrote:Even if it’s being spurred by Marriott don’t think for one second that Amex and Chase don’t have a role in the decision. I honestly don;t care what entity is calling the shots, I still think it’s a troubling move.
Oh I agree... Concerning very much so
Perhaps it just comes down to neither issuer being willing to take an "all or nothing" approach where it comes to Marriott's business. Marriott seemingly holds all the cards in this case.