CREDIT CARD ACT NOW IN EFFECT. The Credit Card Accountability Responsibility and Disclosure Act took effect on Feb 22, will force more consumer-friendly practices on card issuers. But it will also increase competition among banks for lucrative affluent customers with good credit ratings (i.e. TICKET readers!) according to an interesting article in Business Week. Customers with credit ratings of 750+ should expect to receive more bonus rewards, solicitations and promotional offers. Speaking of affluent customers, here’s a nugget of info from the article that we did not know: “American Express dominates the market for affluent users, with individual card purchases averaging $9,342 in 2008 compared with $2,672 for Visa and $2,300 for MasterCard. Its cardholders have average credit scores of 754 compared with 722 for the rest of the industry.” (Disclosure: Travel Skills Group, the publisher of this blog, engages in occasional consulting work for American Express.)
CAR RENTAL SURPRISES CONTINUE. We keep hearing similar stories from TICKET readers about rapacious car rental rates. Here’s another…”I’m an Avis Preferred First Member. Last night I tried to make a reservation in Boston in April (not Easter weekend). The airlines are having a great sale ($128 RT midweek) so I decided to see about visiting kids and grandkids. The airfare for 2 was about $320 with taxes, etc. but the car (economy) was $375!!!! Fully one third of that was taxes and garbage. I am aware of this imbalance and realize it’s been going on for a while, but in this economy, it seems bizarre. I realize, or at least I’ve heard, that the car companies have cut back the number of cars available in order to keep the price high. To get the best deal, I booked it at Orbitz for $100 less. Here’s the problem or challenge: Avis won’t let me use my Avis Preferred First status with the rental. I really don’t care about the mileage but I was annoyed to think that I’ll be forced to check-in at the counter. No manner of questioning from either Orbitz or Avis produced any answer. Customer service?? Not! Anyway, keep up the good work!”–JL
Leave a Reply