Rakuten Visa losing benefits

furthur · ‎10-30-2020

Received this email today. It wouldn't be a deal-breaker for me, but just thought I'd share to inform. My card is the Visa Platinum version, not Visa Signature. I'm not sure if both versions are losing these benefits.

I'm curious to see what the "new Visa benefits" are though...

longtimelurker · ‎10-30-2020

Another one to add (along with Opensky) to https://ficoforums.myfico.com/t5/Credit-Cards/Langley-BoA-USAlliance-and-Comenity-Nerf-Their-Cards/m..., all changing Feb 1

Loquat · ‎10-30-2020

Yep, got this message today on my Rakueten and Cathay Pacific Visa's. Seems to be a trend...

wasCB14 · ‎10-31-2020

The only Visa I'm concerned about losing the EW on is Costco...and I hope the retailer's leverage with Citi makes them keep that.

My few rentals go on Amex, where I just pay per rental for the premium coverage.

Personal spend: Amex Gold, Amex Schwab Plat., BofA PR+CCR(x2), Costco
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UH_HUH · ‎10-31-2020

@furthur wrote:
Received this email today. It wouldn't be a deal-breaker for me, but just thought I'd share to inform. My card is the Visa Platinum version, not Visa Signature. I'm not sure if both versions are losing these benefits.

I'm curious to see what the "new Visa benefits" are though...

Got both myself a little after midnight.

Cathay Pacific and Rakuten.

UpperNwGuy · ‎10-31-2020

Sounds to me like one of two things happened. Either the insurance company that provides the coverage raised the rates they charged the credit card companies, or the insurance company decided to get out of the business of providing this insurance.

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notmyrealname23 · ‎10-31-2020

@wasCB14 wrote:
The only Visa I'm concerned about losing the EW on is Costco...and I hope the retailer's leverage with Citi makes them keep that.

My few rentals go on Amex, where I just pay per rental for the premium coverage.

Same, losing the rental coverage on my Cathay Pacific Visa on 2/2021, which I basically got as a churn card that I would be dumping around 2/2021 anyway, before the $95 AF shows up, barring any amazeball retention offers (which I gather aren't typically a thing on this card).

I do a lot of car rentals, which go on my AMEX Green anyway for 3x.

comfortably_numb · ‎10-31-2020

I received notices this morning that my Nissan Visa and Cheapo Air Visa are losing these benefits. I use my Nissan Visa often to rent cars. I wonder if this is a Visa thing or a Synchrony thing?

notmyrealname23 · ‎10-31-2020

@comfortably_numb wrote:
I received notices this morning that my Nissan Visa and Cheapo Air Visa are losing these benefits. I use my Nissan Visa often to rent cars. I wonder if this is a Visa thing or a Synchrony thing?

Visa.

https://ficoforums.myfico.com/t5/Credit-Cards/Langley-BoA-USAlliance-and-Comenity-Nerf-Their-Cards/m...

OpenSky is dumping their car rental coverage too.

comfortably_numb · ‎10-31-2020

I called Card Benefit Services after I posted that and they said it's banks opting out. So some Visa cards may still have it.

When I rent cars going forward, I plan to use my Capital One Savor card, which is a World Elite Mastercard. It appears to have identical benefits as the visa collision damage waiver. Plus it gets you into the President's Club at Avis.