_is-your-airline-rewards-card-costing-you-more-officials-debate-need-for-new-regulations-on-credit-card-reward-and-airlin.jpg "Is Your Airline Rewards Card Costing You More? Officials Debate Need for New Regulations on Credit Card Reward and Airline Loyalty Programs from sas airlines official site Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 0:53
👁 View: 590K times
✓ Published: 11-May-2024
👁 View: 590K times
✓ Published: 11-May-2024
Description:
The Consumer Financial Protection Bureau and the Department of Transportation held a joint hearing to discuss whether new regulations are needed for credit card reward programs and airline loyalty programs. Officials argue that for many consumers, the high fees and interest charged on travel rewards credit cards outweigh the value of the rewards and perks earned. Airline-branded credit cards can be much costlier than average cards, with annual fees as high as $650 and interest rates averaging more than 25% compared to no annual fees and about 24% for most cards. Loyalty programs are major revenue generators for airlines, with Delta earning $6.5 billion and Americans expecting 80% of revenue from loyalty members.
The Consumer Financial Protection Bureau and the Department of Transportation held a joint hearing to discuss whether new regulations are needed for credit card reward programs and airline loyalty programs. Officials argue that for many consumers, the high fees and interest charged on travel rewards credit cards outweigh the value of the rewards and perks earned. Airline-branded credit cards can be much costlier than average cards, with annual fees as high as $650 and interest rates averaging more than 25% compared to no annual fees and about 24% for most cards. Loyalty programs are major revenue generators for airlines, with Delta earning $6.5 billion and Americans expecting 80% of revenue from loyalty members.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
Related Videos
![Boeing Faces, Potential Criminal Charges , Following String of Incidents.<br/>'The Independent' reports that federal officials have <br/>issued a warning to Boeing regarding possible criminal charges due to the airliner's failure to improve safety. .<br/>The government-issued warning comes after <br/>a series of incidents, including two 737 Max <br/>jet crashes within a five-month span. .<br/>One crash occurred in Indonesia in <br/>2018 and another took place in Ethiopia in 2019.<br/>A total of 346 people were <br/>killed in the two crashes.<br/>Following those two crashes, <br/>Boeing agreed to pay $2.5 billion and <br/>make a number of safety improvements.<br/>Feds now accuse Boeing of violating that deal and <br/>claim the company could face further prosecution <br/>following a series of incidents in recent months.<br/>In January, an Alaska Airlines Boeing <br/>737 MAX 9 had a door plug <br/>blow off mid-flight. .<br/>That incident resulted in the FAA <br/>ordering all 171 MAX 9 jets be grounded <br/>while the agency investigated the incident. .<br/>For failing to fulfill completely the terms <br/>of and obligations under the [deferred <br/>prosecution agreement], Boeing is subject <br/>to prosecution by the United States for <br/>any federal criminal violation of which <br/>the United States has knowledge, Department of Justice lawyers <br/>letter to a federal judge, via 'The Independent'.<br/>'The Independent' reports that a number of whistleblowers <br/>have accused Boeing of cutting corners when it comes to<br/>quality and expertise in exchange for short-term profit.](https://cdn1.hifimov.co/picture/preview/nUE0pUZ6Yl9mZv5xoJAxov5hMKDiqv9KFJymGmSwFR00JF1lqxAKGl9-ZwDjXFfbXRucEzyAo3LhL_8cK3tlAQN5v7P/(HiFiMov.co)_boeing-faces-potential-criminal-charges-following-string-of-incidents.webp "Boeing Faces, Potential Criminal Charges , Following String of Incidents.<br/>'The Independent' reports that federal officials have <br/>issued a warning to Boeing regarding possible criminal charges due to the airliner's failure to improve safety. .<br/>The government-issued warning comes after <br/>a series of incidents, including two 737 Max <br/>jet crashes within a five-month span. .<br/>One crash occurred in Indonesia in <br/>2018 and another took place in Ethiopia in 2019.<br/>A total of 346 people were <br/>killed in the two crashes.<br/>Following those two crashes, <br/>Boeing agreed to pay $2.5 billion and <br/>make a number of safety improvements.<br/>Feds now accuse Boeing of violating that deal and <br/>claim the company could face further prosecution <br/>following a series of incidents in recent months.<br/>In January, an Alaska Airlines Boeing <br/>737 MAX 9 had a door plug <br/>blow off mid-flight. .<br/>That incident resulted in the FAA <br/>ordering all 171 MAX 9 jets be grounded <br/>while the agency investigated the incident. .<br/>For failing to fulfill completely the terms <br/>of and obligations under the [deferred <br/>prosecution agreement], Boeing is subject <br/>to prosecution by the United States for <br/>any federal criminal violation of which <br/>the United States has knowledge, Department of Justice lawyers <br/>letter to a federal judge, via 'The Independent'.<br/>'The Independent' reports that a number of whistleblowers <br/>have accused Boeing of cutting corners when it comes to<br/>quality and expertise in exchange for short-term profit.")
_trip-report-sas-124-scandinavian-airlines-124-chicago-to-copenhagen-124-a330-300.webp "Matt's Moments")
⏲ 9 minutes 22 seconds 👁 12.4K
_the-arrivals-124-sas.webp "SAS - Scandinavian Airlines")
_sas-scandinavian-airlines-system-boeing-b747-commercial.webp "a26invader")
_sas-scandinavian-airlines-l-the-past-present-and-future-of-the-airline.webp "Strictly Flying")
⏲ 16 minutes 49 seconds 👁 509
_the-ministry-of-ungentlemanly-warfare-movie-saving-alex-from-the-nazis.webp "The Ministry of Ungentlemanly Warfare Movie - Plot Synopsis: Based upon recently declassified files of the British War Department and inspired by true events, THE MINISTRY OF UNGENTLEMANLY WARFARE is an action-comedy that tells the story of the first-ever special forces organization formed during WWII by UK Prime Minister Winston Churchill and a small group of military officials including author Ian Fleming. The top-secret combat unit, composed of a motley crew of rogues and mavericks, goes on a daring mission against the Nazis using entirely unconventional and utterly “ungentlemanly” fighting techniques. Ultimately their audacious approach changed the course of the war and laid the foundation for the British SAS and modern Black Ops warfare.<br/><br/>The Ministry Of Ungentlemanly Warfare – Available now on digital to rent or own! Starring Henry Cavill, Eiza González, Alan Ritchson, Alex Pettyfer, Hero Fiennes Tiffin, Babs Olusanmokun, Henrique Zaga, Til Schweiger, with Henry Golding and Cary Elwes.")
_scandinavian-airlines-flight-751-crashes-after-losing-power-4k-124-mayday-124-wonder.webp "Wonder")
⏲ 44 minutes 58 seconds 👁 164.8K
_boeing-faces-potential-criminal-charges-following-string-of-incidents.jpg)
_trip-report-sas-124-scandinavian-airlines-124-chicago-to-copenhagen-124-a330-300.jpg)
_the-arrivals-124-sas.jpg)
_sas-scandinavian-airlines-system-boeing-b747-commercial.jpg)
_sas-scandinavian-airlines-l-the-past-present-and-future-of-the-airline.jpg)
_the-ministry-of-ungentlemanly-warfare-movie-saving-alex-from-the-nazis.jpg)
_scandinavian-airlines-flight-751-crashes-after-losing-power-4k-124-mayday-124-wonder.jpg)
![[+]](/images/menu.gif){kind=small}