Banks Don’t Want Your Credit Card Business Unless It’s for the Long-Term

by Gary Leff

visa and mastercard cards spread out
Jun 13 2015

Banks have in many ways tightened their criteria for issuing premium rewards credit cards over the past year, especially for folks who have had the same product in the past or who have a pattern of switching around their wallets frequently.

It’s not just about avoiding giving customers the same bonus multiple times — it’s also about realizing they need cardmembers to stick with them and keep a card top of wallet in order for the customer to become profitable.

Bonuses are expensive, they recoup the cost over time when a cardmember behaves with typical spend into the future — but not if the consumer is someone who tends to switch products.

Continue Reading »

TSA’s New Plan to Make Screening Less Efficient

by Gary Leff

Jun 12 2015

Earlier in the month when it was revealed that a government study found the TSA was failing to detect 95% of bombs and weapons, and I predicted (and feared) this would mean a crackdown at the checkpint and limitations on the PreCheck program.

Now the man nominated to head TSA says they need to make screening even less efficient.

Continue Reading »

Qatar Airways Head Awarded French Legion of Honor – In Contrived Scheme to Tell Air France to (Expletive Deleted)

by Gary Leff

Jun 11 2015

Even though Air France wants a government crackdown on Qatar Airways, their airline’s CEO Akbar al-Baker has been awarded the French Legion of Honor “for his leadership in the aviation industry and for spearheading Qatar Airways to be a leading global airline” .. and for his service and commitment to France at large.

Continue Reading »