New Amtrak Guest Rewards Master Card - Fall 2015

[Ryan]

Book the trip now on your AGR card. Like you said, the cost may go up, and it's better to get locked in now. If you're comfortable waiting, maybe wait until the 12th where you can make a more informed decision.

 

[Just-Thinking-51]

I'll be canceling my Chase Amtrak card ASAP.

I always see comments about how your credit score is affected by these minor changes, but I don't understand why I should be concerned? As a guy with a fine credit score who's not planning on buying anything major anytime soon, why would it matter?

Even if I were planning on buying a new home, any loan I would be seeking would be far, far less than the maximum amount the bank would approve, so I wouldn't think a minor blip on my credit score would have any impact on anything.

Do these minor credit score blips affect anything besides maybe slightly lowering the maximum amount for which you could get a home loan approved?

Credit scores are use for a lot of things. When your young, a small blip down can cause issues.

I have seen/had credits scores pulled for Jobs, Insurance, and renting a house. I am sure there more. Never did get a straight answer why a job application requires a credit check? Lower pay for lower score? Will not hire you if score to low? My insurance pulls the credit score, because it can see a relationship between low credit scores, and high claims. (Per them).

Never applied to a job for you (eee) but check with your HR people why employers want to see your credit score during the application process. Heck your outfit might be doing it.

 

[Bob Dylan]

I'd book it now using your current Chase AGR MC to lock in the room and get the AGR points from your Sept statement!( use amsnag.net to get a good Room price//15% Senior Discount on the Rail Fare ) .

After Sept all bets are off, the new BOA Card is just a rumored Ghost right now!

And the Cash back for Chase Freedom VISA (who knows when well actually get it) is basically not much of a deal for you!(1%)

The rumoured BOA ( Barely Offers Anything) Cards are just that, who really knows what will happen, what they'll offer or when???

 

[willem]

I can only answer the senior fare question. You can earn points (they'd be less than full fare, of course), but points will be valued at the adult fare when using points to pay

That's good news, or at least half-good news, but it does not seem to be supported by the statement under the 2016 Points Estimator at the sneak peak: "Not all fares will qualify for point earning and redeeming." Has there been a clarification of what fares will not qualify for point earning?

 

[willem]

Anthony posted this on Flyertalk:

We will extend a grace period from 8/27/15 to 1/24/16 when the new rules regarding point expiration will be in place. During this time, members with qualifying earning or redemption activity under the new program rules in the last 36 months will be exempt from point expiration. This includes members who had the Amtrak Guest Rewards MasterCard from Chase on 9/30/15.
Anthony

http://www.flyertalk.com/forum/amtrak-guest-rewards/1700885-new-amtrak-guest-rewards-mastercard-arriving-fall-2015-a-8.html

Thanks, Penny. That is useful news.

 

[19/20]

I'll be canceling my Chase Amtrak card ASAP.

I always see comments about how your credit score is affected by these minor changes, but I don't understand why I should be concerned? As a guy with a fine credit score who's not planning on buying anything major anytime soon, why would it matter?

Even if I were planning on buying a new home, any loan I would be seeking would be far, far less than the maximum amount the bank would approve, so I wouldn't think a minor blip on my credit score would have any impact on anything.

Do these minor credit score blips affect anything besides maybe slightly lowering the maximum amount for which you could get a home loan approved?

Credit scores are use for a lot of things. When your young, a small blip down can cause issues.

I have seen/had credits scores pulled for Jobs, Insurance, and renting a house. I am sure there more. Never did get a straight answer why a job application requires a credit check? Lower pay for lower score? Will not hire you if score to low? My insurance pulls the credit score, because it can see a relationship between low credit scores, and high claims. (Per them).

Never applied to a job for you (eee) but check with your HR people why employers want to see your credit score during the application process. Heck your outfit might be doing it.

Companies don't want people with bad credit because they think you might steal from them, usually they pull a credit report only if you handle cash.

 

[neroden]

I was going to ask a more basic question. How do you reduce risk by turning away good credit customers?

The business model of most of the crooked megabanks's card businesses is "debt slavery". They don't want people who pay their bills. They don't want people who *completely* default on their cards either, though. They only want people who rack up huge debts, then pay interest on them forever. If you use your card responsibly, they will pretend to not receive your payment, make up fake fees, reorder transactions, and do other things to *induce* interest and fees. They have a similar business model for their checking accounts, and for their mortgage departments...

This is kind of scummy, but that's what they do... The megabanks don't want to issue me a credit card because I pay my bill every month.

So you see that they want to turn away good-credit customers because good-credit customers are not profitable enough for them. They have no interest in reducing risk; the name of the game is increasing risk in order to increase next quarter's profits, in order to increase the bonuses paid to the execs.

(The only megabank which seems to have a different business model is HSBC, whose model is "money laundering". If you're money-laundering for mobsters, you don't try to nickel-and-dime them... that's dangerous!)

Anyway, all the intensive research into the banking industry which I've done has made me intensely cynical and suspicious of it. I now use local banks & credit unions.

 

[The Davy Crockett]

neroden,

BINGO!!!

Without getting into details, what you wrote almost perfectly describes my experiences with the *******s. The only thing I would add is to say one needs to be careful with local banks too, as my experiences are that some of them like to emulate the big *******s after the banking 'reform' that followed the latest bailout and will do their best to nickel and dime you.

Still, IMHO, YOU NAILED IT!!!

 

[printman2000]

I was going to ask a more basic question. How do you reduce risk by turning away good credit customers?

The business model of most of the crooked megabanks's card businesses is "debt slavery". They don't want people who pay their bills. They don't want people who *completely* default on their cards either, though. They only want people who rack up huge debts, then pay interest on them forever. If you use your card responsibly, they will pretend to not receive your payment, make up fake fees, reorder transactions, and do other things to *induce* interest and fees. They have a similar business model for their checking accounts, and for their mortgage departments...
This is kind of scummy, but that's what they do... The megabanks don't want to issue me a credit card because I pay my bill every month.

So you see that they want to turn away good-credit customers because good-credit customers are not profitable enough for them. They have no interest in reducing risk; the name of the game is increasing risk in order to increase next quarter's profits, in order to increase the bonuses paid to the execs.

I have not carried a balance on a credit card since the early 90's. I have never had a problem getting a credit card.

 

[jis]

Likewise. Usually I am the one doing the refusing rather than the one doing the asking. But whenever I have asked I have not been refused, at least so far. And yes, I have never paid a single cent of interest on any of my credit cards. So I guess YMMV. I don't see any evidence of the alleged business model in my dealings with the banks but I fully believe that others experiences maybe very different.

 

[Bob Dylan]

I agree with everyone that's posted in this thread so far!

I have Good Credit cause of my past record, pay all my Credit Card bills monthly, am a Credit Union Member so no rip off Mafia type fees, and even though I'm retired on a fixed income ( half of what it was when working), I too get flooded with offers from Financial Institutions that I can refuse!( Godfathers run all Mega Banks!LOL)

The three Financial Institutions that I have had no problems with and received excellent customer service are: American Express, Chase and My Local Credit Union. YMMV

 

[siberianmo]

Ever have one of those mixed-emotions-moments? Just this morning (Labor Day) I did.

Upon returning home from a most enjoyable rail adventure (San Diego-to-Los Angeles-to St. Louis via San Antonio) with three

nights in a sleeper ("paid" by Amtrak Guest Rewards!) I found a stack of snail mail awaiting me.

First in the pile was a letter from Guest Rewards containing a very nicely-done luggage tag (another topic discusses this). Happy face!

Second was a letter from Chase Bank telling me that their "relationship" with Amtrak will come to an end on September 30th. Sad face!

In re-reading the letter and reading the most current posts herein, I came to this conclusion: Not a good deal - thanx but no thanx.

Tomorrow when all of those hard working bank employees get back to the "grind," I will call to have that Freedom card deep-sixed.

I have booked an extensive rail journey for late October and fortunately those expenses will show up on my next (and final!) statement.

Phew.

As for another travel card. For me it will be wait and see whatever the Guest Rewards moguls have to recommend. I note that their web site

still discusses the Chase MasterCard connection. Hmmmmm.

Enjoy the Monday holiday!

 

[yarrow]

I was going to ask a more basic question. How do you reduce risk by turning away good credit customers?

The business model of most of the crooked megabanks's card businesses is "debt slavery". They don't want people who pay their bills. They don't want people who *completely* default on their cards either, though. They only want people who rack up huge debts, then pay interest on them forever. If you use your card responsibly, they will pretend to not receive your payment, make up fake fees, reorder transactions, and do other things to *induce* interest and fees. They have a similar business model for their checking accounts, and for their mortgage departments...

This is kind of scummy, but that's what they do... The megabanks don't want to issue me a credit card because I pay my bill every month.

So you see that they want to turn away good-credit customers because good-credit customers are not profitable enough for them. They have no interest in reducing risk; the name of the game is increasing risk in order to increase next quarter's profits, in order to increase the bonuses paid to the execs.

(The only megabank which seems to have a different business model is HSBC, whose model is "money laundering". If you're money-laundering for mobsters, you don't try to nickel-and-dime them... that's dangerous!)

Anyway, all the intensive research into the banking industry which I've done has made me intensely cynical and suspicious of it. I now use local banks & credit unions.

right on. to me, the posts in both the new credit card and the agr 2.0 thread mainly say that things are run of, by and for the well to do. some of us average working stiff railfans have been able to take trips we couldn't otherwise consider with the current system. it was fun

 

[StanJazz]

It looks like it might be Chase dropping Amtrak, not Amtrak dropping Chase. I was reading in the Quicken financial program forum that on Sept 30 the Chase Quicken Visa will become a Chase Freedom. Starting Oct 1 points earned will be Freedom points and in 6-8 weeks cardholders will receive a new Freedom card. Exactly the same as the Amtrak card. It is unlike that both Amtrak and Quicken would be dropping Chase at the same time.

 

[Blackwolf]

At this point, I'm not going to replace the Amtrak MasterCard when Chase cancels it entirely at the end of this month. Admittedly, the Amtrak card was my lowest credit line, so the loss of that "credit availability" will be marginal. IMHO, if a bank cancels a card because of internal politics, the resulting drop-off on your credit score should not happen. Of course, everyone's FICO will be affected, but I still think it is utter BS that you get dinged because a contract that you have no control over ends.

I wait to see if Chase just rolls me into a different card (I have a CSP card and intend to keep it indefinitely) or just cuts to the marrow and leaves my wallet with one less piece of plastic.

 

[Ryan]

You should read the previous posts, you're going to get a Chase Freedom card.

 

[NW cannonball]

You should read the previous posts, you're going to get a Chase Freedom card.

Which substitution is very unlikely to ding your credit score. At all. Free to cancel with no FICO loss.

Probably -- nobody knows - there will be a "possibly BOA" new Amtrak-card - with so-far-unkown "benefits" . wait for the official announcement.

Like the WAPO story on the other thread https://www.washingtonpost.com/lifestyle/travel/what-tips-for-traveling-have-changed-since-medieval-times-surprisingly-few/2015/09/03/39fa7194-482d-11e5-846d-02792f854297_story.html

Big bag of patience .

 

[Ryan]

Nobody knows? Worst kept secret ever.

 

[tonys96]

They don't expire.

Really? The three year rule on OLD points is now going to be waived? Citation needed, please.

Anthony posted this on Flyertalk:

We will extend a grace period from 8/27/15 to 1/24/16 when the new rules regarding point expiration will be in place. During this time, members with qualifying earning or redemption activity under the new program rules in the last 36 months will be exempt from point expiration. This includes members who had the Amtrak Guest Rewards MasterCard from Chase on 9/30/15.[/size]Anthony[/size]

http://www.flyertalk.com/forum/amtrak-guest-rewards/1700885-new-amtrak-guest-rewards-mastercard-arriving-fall-2015-a-8.html

Thanks! But, I still do not understand. Does this mean that whatever points I have as of 9/30 will never expire? Any earned after that?

 

[Ryan]

At this point, all we know is that no points will expire between 9/30 and the rollout of the new rules in January.

From that point forward your points will expire after three years with no earning or redemption activity. This is a change from the current rule set where they will expire after three years with no Amtrak travel.

It is currently unknown if the current card benefit of "points never expire" will be a part of either or both of the new cards.

 

[jis]

Notwithstanding protestations to the contrary in this thread, we really know very little about what features, both advantageous and disadvantageous come attached with the rumored new card(s). Most of it is a well kept secret, even though some claim that it is the worst kept secret.

 

[Ryan]

I'll agree that the details of the cards are still a mystery, but not the existence of them.

 

[Bigval109]

To me there is too much going on with all of these changes going on, first the price of points go up, then we have to change banks to get a new AGR card, and now we have to deal with changes with redemption rates. Imo that's way too many changes going on at one time. Will the more expensive point purchase lose there value?

 

[Everydaymatters]

Yesterday I looked at BOA's web page and they showed a couple of different offerings. The travel card had no annual fee and 20,000 points for joining.

 

[Bob Dylan]

Yesterday I looked at BOA's web page and they showed a couple of different offerings. The travel card had no annual fee and 20,000 points for joining.

Sounds similar to the current Chase AGR MC when they would offer varying amounts of Bonus Points for getting the Card.

The problem is that 20,000 points might seem like a lot just for getting another Card, but with the devaluation upcoming in Jan it"?'S not really 20,000 points as we know them.

I currently can do a 2 Zone Roomette Redemption for Two from AUS-MIA or AUS-SEA for 20,000 Points. ( 19,000 with the 5% rebate for having the AGRMC)

Under the "New and Un-improved AGR2.0" these trips would require twice or even three times as many points since adding a second person to your Award will require more points or $$$.

It if walks like a duck, and quacks like a duck, it's probably a duck! Less is Not More! No matter what the Marketing Weasels try to say!

Sure doesn't "better fit my lifestyle" since I'm no longer a business traveler that resides on the NEC!!

Well see what BOA and AGR offer IF WE EVER GET ANY INFO, its Sept.9th already! The Manhattan Project wasn't kept under wraps this well! ( Actually it was, that's hyperbole!)