TPG readers share their wish list of post-coronavirus credit card perks
Update: Some offers mentioned below are no longer available. View the current offers here.
The credit card industry is among the one of many that have been negatively impacted by the coronavirus pandemic. Issuers have been scrambling to come up with new policies and changes to hold onto current cardholders -- plus attract new ones.
Customers have been overwhelmed trying to keep up with the changes, and many feel as if their travel-related card perks have been devalued since shelter-in-place orders were issues around the globe. So we asked members of the TPG Lounge and TPG Women Facebook groups to see what credit card perks they'd like to see in a post-coronavirus environment. Comments have been lightly edited for context.
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Related reading: TPG readers offer their 2020 credit card perks wish list
Reduced annual fees
Betty C.: I'm starting to wonder about whether the Chase Sapphire Reserve has any value at all right now if I can't spend my $300 travel credit this year and I'm not eating in restaurants. I think Chase really, really needs to address this, and not by just offering a $100 credit on next year's fees.
Blythe N.: I’d like to see a prorated reduction of the annual fee on my premium cards that have travel perks which normally offset the fee. I've seen that some Hilton Honors American Express Aspire Card card holders got an up to $250 credit even if they had already used the resort credit. I did not get the credit but I did use my resort credit late last year, so that’s ok.
The information for the Hilton Aspire Amex card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Chris C.: I think it really would be helpful to allow us to turn off portions of our benefits if we can't use them. I think it was fair of Chase to give a rebate on Chase Sapphire Reserve fees since no one is traveling and I don't have the opportunity to use my Priority Pass [benefits] for a significant portion of the year.
Clare T.: No $695 annual fee (see rates and fees) in 2021 for the Platinum Card® from American Express. That gives me incentive to keep the card for next year even though I’m not going to get the [travel] benefits this year.
Related reading: Reader question: Is the Chase Sapphire Reserve still worth it if you aren’t using the travel credit?
More earning power
Ricardo R.: Double the points on Amex Platinum would be nice.
Madison B.: I’m all about customization. Choosing your bonus categories or benefits each month/quarter would be great!
Pat V.: Higher bonus points and miles miles for subscription services, grocery shopping and on-demand services like Uber Eats, Caviar and Grubhub.
Natalie S.: More -- and better -- retention offers to current cardholders. If credit card companies are limiting credit, reward those that are still with you.
Related reading: The best credit cards for dining out, taking out and ordering in
Practical benefits
Lindsey C.: There needs to be better travel insurance on travel purchases and during this time to help, especially on plans made for later this year and next year. I wold like to see increased reward earning on the purchases people are making during this time and an extension to the lounge passes that come with the United Explorer Card.
Le H.: Have Citi reinstate all the benefits they cut from their top tier cards in September 2019.
Derek P.: Create an Amex Platinum restaurant bonus of 3x or 4x points per dollar spent. Unveil a premium Hyatt credit card. And with Hilton credit cards, make the free night bookable online without a phone call.
Jeremy J.: More cards with credits for streaming and internet services.
Michal P.: I’d like to see an extension of travel credits and free night certificates, along with a reduction or perhaps even a one-year stay on renewal fees for existing customers. This is likely to last into the next year and travel is going to be significantly reduced for quite a while.
Scarlett C.: I just signed up for the United Explorer Card and I think I have three months to hit the minimum spend to get welcome bonus miles. Well that's going to be a lot harder now since I'm spending a lot less. I would love an extension.
Bottom line
Although some states are opening up for business, large parts of the U.S. are still closed, leaving some cardholders with limited options to earn points and miles on their travel cards. As such, existing and new cardholders feel like they should get extras to make up for not being able to use benefits like lounge access and annual travel credits. Card issuers are slowly responding. But only time will tell what new benefits we’ll see, how long they will last and what might be taken away as a result.
For rates and fees of the Amex Platinum card, click here.
