On one hand, we saw two promising offers return on two popular cards. On the other hand, we’re still seeing a grim outlook on the economic and public health front, which is only gutting any chances of travel returning to normal. A few data points also hint at how Chase is possibly looking at an expansion of their infamous 5/24 rule. Here’s a quick recap of some of the stories we covered this month.
New data points hint that the Chase 5/24 may well be expanded to cover other products in addition to their credit cards.
As a concept, this seems to be very promising. However, given the current state of the economy and travel in general, I doubt any airline would invest tons of money in bringing this to market.
An interesting trend could well be on the upswing. Popular destinations are facing a shortage of revenue from travel. In order to recoup lost revenue, many could resort to inviting fewer visitors with deep pockets who would spend a lot more than the average traveler.
The writing is on the wall. The public polling data shows that Americans are still skeptical about making travel plans for the rest of the year. Instead, they’re choosing to drive and book short stays.
The Marriott Bonvoy Boundless Credit Card by Chase is currently offering a sign-up bonus of 100,000 bonus Bonvoy points. You only need to spend $3,000 in 3 months in order to earn this elevate bonus.
Amex is targeting certain customers with an elevated 70k sign-up bonus for their personal Gold card. You’ll earn a sign-up bonus of 70,000 Membership Rewards points after you spend $4,000 in the first 3 months.
As credit card sales plummet, Chase execs sound the alarm about the economy. They also point out that they’re tightening up the way they do credit, which means more restrictions and lower credit limits.
If you’re planing to book travel any time soon, then refer to this resource as it lists the most updated information about travel restrictions on a country by country basis.
Similar to Chase, Amex announced their intent to apply a cautious approach going forward. In response to the public health and economic crisis, Amex intends to active monitor accounts and close them for inactivity. They also intend to spend less on acquiring new customers.
IATA has readjusted its forecast and it doesn’t see that air travel will return to normal any time before 2024.
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