Official word today is that the prmotion is ongoing into 2011.
As I recall the clock for Elite Qualifying Nights (EQN) starts ticking on January 1st (today) even though the online balance takes a few days to register the restart and add those rollover nights, if they are in fact there.
I am wondering two things:
1. If the money I spent in December using the Marriott Rewards Visa (the Chase issued black card) will be added at the rate of one 2010 EQN for every $3000 spent, even though it is posted in 2011? And,
2, If Chase, Visa and Marriott intend to renew that EQN program for the new year?
Has anyone heard?
I haven't heard officially, but I think it should all be credited toward 2010 because those are the usual terms. After all, if we stayed at a hotel on December 30th, it would be a hotel stay, even though there'd be almost no way it could get credited till Monday at the earliest, let alone make it to our points section.
The terms of offer for the Chase/Marriott CC include the EQN credit for each $3000 spent as part of the program offering for having the card. Although they have the right to amend or terminate without notice, that would not be a prudent business practice if attempted.
I think they would (sensibly) have to give notice to change the offering and would have done it in advance of the new year if they were discontinuing.
Since I spent over $10,000 in my December billing, I look at it as the EQN credit will be either a 2011 EQN credit or a 2010 EQN credit that becomes a rollover EQN credit.
I also have a huge amount on my December card bill as well, and hope Chase has the good sense to keep this promotion going, for me as well you. My wife questions the annual fee since we have other cards that are fee free, but showing her the bennies seems to placate her, just a little.
You raise a great point for discussion. Wouldn't one think that with all the "no fee" card offerings out there that Chase would have the sense to waive the fee when a certain amount of spending is reached? I mean, I understand the administrative charge for someone who doesn't spend a lot because they automatically get 10 - 15 elite nights credited with the first purchase. However, to continue the charge to those who continually spend and make them (the credit card company) a lot of money is nonsense.
Think it through: I've been credited with almost 30 elite spending nights in the 2010 year. There are many others in the same category as me. Marriott certainly has done their part with the nights being credited towards our elite status, but based on the 1.25 - 1.75% fee Chase charges the vendor to process the sale, they (Chase) make a lot of money for the amount of transactions we all do.
I think it would be a good thought for Chase to consider waiving the fee in the following year after a certain amount of spending has been reached.
Any other thoughts?
I too have a huge reservoir of nights from Chase this year and it seems that they could comp us "big spenders" if they wanted to with a no-fee reward. Other credit cards go part way and even allow you to pay for the fee with accumulated discounts. Still a payment though.
The recent new laws regarding credit cards have gotten card issuers more apoplectic than normal, in my opinion. Knowing that the government will be watching they have decided to be more selective and not issue cards to everyone, have reduced their liability from charge-offsas a result, and are now loving their fees more than ever. Much like those infernal but profitable bag fees on the airplanes, this annual fee is a cash cow for them.
Don't know if you've noticed but the super prestige cards have nosebleed-priced joining fees and equally large annual fees, which I guess to some folks equates to achieving that intangible status and no credit limits.
But yes, why can't Chase eliminate the annual fees for profligate spenders (good customers)?
I do believe that the 1 night credit for every $3000 is on for 2011 as I recently received an application for a business reward card and they listed that as one of the benefits. Do you by chance know just which nights roll over? Stayed, bonus, $3000.00 spending nights, previous rollover nights, any or all?