@wasCB14 wrote:Maybe there will be a trend of people seeking downgrades to Visa and MC Platinum.
It's not clear to me if the potential discrimination would be more by tier or by issuer.
I think it's by tier, the rates are set by said tier of card (Visa Signature for example).
It'd certainly be interesting to me, vis a vis my Amazon Prime card is a Siggy, but the store card is not. That's an easy swap, others like my FU is a Siggy .. non-trivial impact to the trifecta if it gets excluded, and not sure it's that much use to me with a sub 5K CL if that's what it takes: not sure what my tax payments really look like anymore.
ETA: ah hell most of my cards are Siggy now, how things change over time: my replacement Fido came in a new type seemingly as is the QS... I still clearly remember when virtually none of my cards were.
It would be quite a credit appacolypse if that happened, as the way I see it a few things would change over time:
- The retailers would refuse to accept specific cards, and initially the consumer would refuse to shop there and go elsewhere with the rewards card.
- Then, instead of many of us posting and searching for the best SUB and cards with the most rewards for the dollar, we will be posting and searching for 'The neutral one-stop-shop' card that works anywhere.
- Finally, as mentioned earlier, the purpose of utilizing cards for so much spend would be moot as you wouldn't earn nearly enough rewards to be worthwhile long-term, due to the card not being accepted.
- Even further down the road, the retailers would ultimately loose the game of credit card discrimination because noone would have these cards and therefor may not have the available credit at all to make the large purchases.
Phew, what a thought.
This is part of the fallout from the recent AMEX win in the Supreme Court. VISA and MC threw in the towel earlier, were also defendants in the States lawsuits. Now VISA and MC have to deal with merchant mutinies.
AMEX is the only network that has power over their merchants.
This may be behind AMEX’s recent increases in PRG rewards, and push to get more high-end cards in customers hands.
AMEX is the only network that has power over their merchants.
This may be behind AMEX’s recent increases in PRG rewards, and push to get more high-end cards in customers hands.
@Cred4All wrote:It would be quite a credit appacolypse if that happened, as the way I see it a few things would change over time:
- The retailers would refuse to accept specific cards, and initially the consumer would refuse to shop there and go elsewhere with the rewards card.
- Then, instead of many of us posting and searching for the best SUB and cards with the most rewards for the dollar, we will be posting and searching for 'The neutral one-stop-shop' card that works anywhere.
- Finally, as mentioned earlier, the purpose of utilizing cards for so much spend would be moot as you wouldn't earn nearly enough rewards to be worthwhile long-term, due to the card not being accepted.
- Even further down the road, the retailers would ultimately loose the game of credit card discrimination because noone would have these cards and therefor may not have the available credit at all to make the large purchases.
Phew, what a thought.
I would even argue at that stage it would be a lose lose lose scenario. Nobody wins. Let's hope it doesn't get to that point.
