Buzz
Virginia, Managing Editor at Mytour, was growing weary of the hefty annual fee on her Chase Sapphire Reserve Card when Delta unveiled a major overhaul to their American Express SkyMiles card lineup. The new suite promised similar perks with a tempting sign-up bonus: 60,000 bonus miles for spending $2,000 within the first three months.
However, her experience serves as a reminder to closely examine the fine print and reconsider if the perks truly justify the decision to sign up for such a card. Those enticing benefits could vanish unexpectedly.
In September, Delta and American Express announced the revamped SkyMiles cards and their enhanced benefits, enticing new customers with the promise of generous sign-up bonuses and the assurance that the new perks would be available starting January 31 if they enrolled by October.
On January 30, Delta and Amex officially unveiled the updated collection of cards, along with a fresh set of signup bonuses. Some of these offers even surpassed those introduced in October. Virginia’s mid-tier Gold card now included an extra 10,000 bonus miles once cardholders hit their one-year mark.
On January 31, Virginia received an email detailing “important changes” to her SkyMiles card. One of the new perks was a $100 flight credit after spending $10,000 within a calendar year. In exchange, access to Delta Sky Club lounges was being eliminated (though lounge visits still cost $39).
This update came just a day after American Express restricted its Centurion Lounge access for Platinum and Reserve cardholders, specifying that entry was only granted if your flight was departing soon, making it impossible to just relax in the lounge without proof of an upcoming departure.
All of these changes left Virginia questioning whether keeping the credit card was worthwhile. “I kind of wish I hadn’t signed up for it,” she shared on Mytour Slack, but quickly added, “I’m still earning my signup bonus.”
To be clear, neither American Express nor Delta technically did anything wrong when implementing these changes. They had outlined which benefits would be added and which would be removed on January 31 in a graphic shared earlier in the fall. However, as expected, the perks being taken away were somewhat downplayed in small print.
People who are excited about the idea of a large signup bonus often overlook the fine print—especially in cases like this, where the enticing offer is 'sign up now and get new benefits later.'
So, what’s the issue, you might ask? The problem is that credit cards aren’t obligated to fulfill any promises when it comes to rewards programs and other perks. While some protections have been added post-recession, like more transparent interest rates and clearer billing statements, rewards programs remain outside any official regulations. Card issuers are not required by law to disclose details about their reward systems or fringe benefits, such as travel insurance.
So, you have a choice: you can keep playing the rewards card game, maximizing the benefits while they last, or you can walk away.
For those dissatisfied with changes in their programs, downgrading your card rather than canceling it outright is an option—something many Chase users are considering as the annual fee on the Sapphire Reserve card rises to $550.
Alternatively, you might consider simplifying your wallet and giving up the pursuit of being a top-tier credit card churner, as The Wirecutter recommends. By focusing on just one or two credit cards, you may be able to earn greater rewards, instead of chasing signup bonuses for cards that could lose their appeal over time.
This post has been updated to reflect the price-per-visit for the lounge access benefit, which has now been removed.
