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Here’s a quick roundup of what’s happening in the world of travel, miles and points. The first story is disappointing in so many ways. I really don’t see there being any justification whatsoever for a Vlogger receiving death threats for a critical review.
On the business side, Chase seems to be doing extremely well financially. Meanwhile, AA is taking steps to shut down more customer accounts and the Trump Administration is likely adding more countries to its existing travel ban.
Vlogger Gets Death Threats
Social Media can really bring the worst out of people. A German vlogger posted about his disappointment with a Singapore Airlines flight that he took. While one can understand how passionate people often get with their travel preferences, this one was over the top. In response, people started attacking him by using anonymous profiles on social media. What’s even worse is that the person who made the death threat claimed to be a Singapore Airlines employee.
Chase’s Record Profit Year
Chase posted record profits for any U.S based bank in their history last year. JP Morgan & Chase’s profit jumped 21% in the fourth quarter of 2019, with annual earnings of $36.4 Billion. Their CFO provided more insights into the bank’s performance and what lies ahead. Head over to Yahoo! Finance for the whole report.
Chief Financial Officer Jennifer Piepszak said the record results don’t necessarily mean the bank has reached a peak. Growth can continue thanks to initiatives including a national branch expansion, plans to boost market share in the fast-growing credit-card business, a push into China and the company’s strategy of hiring investment bankers in geographies and sectors where the bank is “under-penetrated.”
While we don’t know any more details yet, an attempt to gain credit card market share may be aimed at snatching some of Amex’s business. Many have speculated that Chase will come up with an Ink Reserve to compete with Amex’s premium portfolio of business travel credit cards. I sure hope this is the year we see that happen.
AA Shutting Down More Accounts
Doctor of Credit recently posted an update about the whole AA account shutdown issue. While it’s not surprising that AA is cracking down and locking or even shutting down accounts, it’s a bit disconcerting to see existing itineraries being canceled. Citi claims that they don’t really know much about this. Apparently, AA’s corporate security team is enforcing these shutdowns.
Expanded Trump Travel Ban
Reuters reports on what looks like more countries being added to the travel ban list.
The United States is moving to add more countries to its travel ban list, U.S. President Donald Trump said on Wednesday without giving details but saying the changes would be announced soon.
A source familiar with the draft proposal said the tentative list of nations included Belarus, Eritrea, Kyrgyzstan, Myanmar, Nigeria, Sudan and Tanzania.
US authorities have refused to provide an official statement until now. The White House, DHS and State Department officials declined to comment on the proposed implementation and roll out of this proposal. I’m expecting that we’ll see an official announcement soon.
What do you think about the recent AA shutdowns and the expanded Trump travel ban? Let us know in the comments section.
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