8 Replies Latest reply: Aug 4, 2011 8:38 PM by james30 RSS

MR “VISA Chase” increasing yearly fee ~ 23%

blava007 Platinum
Currently Being Moderated

That seems like steep increase by 23% in yearly fees.

(For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: Marriott Rewards “VISA Chase” increasing yearly fee ~ 23%
    profchiara Alumni Steward Silver 3 Reviews
    Currently Being Moderated

    Yes, I got my new "Terms and Conditions" letter yesterday and it said it was going from $65 to $85 a year.  It's still a good deal if you stay at Marriotts a lot.

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: Marriott Rewards “VISA Chase” increasing yearly fee ~ 23%
    blava007 Platinum
    Currently Being Moderated

    ProfChiara I'm sorry, but you are missing my simple point; "23% increase", did the value of the Marriott point increased by 23%?  

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: MR “VISA Chase” increasing yearly fee ~ 23%
    profchiara Alumni Steward Silver 3 Reviews
    Currently Being Moderated

    Blava007,

     

    I completely agree with you -- my only point is that for $20 extra it is one of the best cards around if you stay at Marriotts a lot since you get 5 points per dollar spent.  I have many other cards that give you 2 on everything or double airline miles, but this is the highest for actual point translation.

     

    I did write in an earlier post (after the Rive Gauche incident) that I was using my MR card less and that's true because I have had to or wanted to stay elsewhere.

    ProfChiara

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: MR “VISA Chase” increasing yearly fee ~ 23%
    pingreeman Platinum 1 Reviews
    Currently Being Moderated

    Just one more example of government fall-out. The reason most credit card companies are raising annual fees is because of the Credit Card Act of 2009, the goal of which was to prohibit “risk-based pricing,” in which card issuers changed the interest rate of a card if the customer’s risk profile changed, and additional restrictions for credit card companies that in general prevents charging overdraft fees.


    As a consequence, CC companies have had to find new ways to replace this lost revenue, so annual fees are going up. (The CC Act of 2009 did not address annual fees.)

     

    IMO, government was trying to "protect" the "idiots" who overcharge and underpay their credit cards. So, when it comes to managing credit, those of us who never miss a payment, never exceed their card's limit, etc. and are "credit-savvy" now have to fund the the lost CC revenue previously generated by the idiots via higher annual fees. Another "income redistribution" policy.

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: MR “VISA Chase” increasing yearly fee ~ 23%
    nuhusker Platinum 2 Reviews
    Currently Being Moderated

    I have a basic (MR Signature VISA) card, collect 3 points for every dollar spent at Marriott (which is the only place I use it) and pay NO annual fee.  Nor do I, or will I, pay an annual fee for any credit card.  Problem solved for me.

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: MR “VISA Chase” increasing yearly fee ~ 23%
    profchiara Alumni Steward Silver 3 Reviews
    Currently Being Moderated

    I agree, Pingreeman.  Earlier today I was trying to find wording about the exact legislation.  Perfect example of the Law of Unintended Consequences -- exact these consequences were perfectly predictable.

    ProfChiara

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: MR “VISA Chase” increasing yearly fee ~ 23%
    nhtraveler Platinum 3 Reviews
    Currently Being Moderated

    Hi Insiders - While I agree that a 23% increase is a bit steep, as I have the Premier card and get a night's credit towards elite status for every $3,000 spent on it, that, along with the points still makes it a good deal. (Not as good as the former annual fee, but still not bad.)  nhtraveler

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

  • Re: MR “VISA Chase” increasing yearly fee ~ 23%
    james30 Platinum
    Currently Being Moderated

    Excellent post, Pingreeman.

    (For each location tag, you will be guided through a 3-step process to add (1) a city and a state or a city and a country, (2) a Marriott brand, and (3) a Marriott hotel.)

More Like This

  • Retrieving data ...