MBNA RCI Elite Rewards

[JLB]

Madge:

Back when interest rates fell, without notice RCI Elite Rewards increased redemption values. A domestic exchange doubled, from 10,000 points to 20,000. In our case, since we had a balance of 19,500, that meant we went from 500 short of two exchanges to not enough for one.

The without notice part rubbed a few of us the wrong way. I guess enough of us complained that they allowed us to do one more redemption at the old values. In our case, that meant we were given one domestic exchange for 10,000. That left us a balance of 9500, still 500 short of another exchange, but we had to accumulate 20000 to get it.

We had enough dollars spent, with points not posted, to be over 20,000, to get two exchanges at the old value, but folks I talked to were very unreceptive. Actually, they were kinda nasty, implying that they were doing us a big favor in letting us have one redemption at the old values.

I didn't protest too much. I have kept telling people that the adjustment was made to keep the premium in line with savings account/money market interest rates, which had fallen to less than 1%. I have kept telling folks to hang on and see if the redemption values are not decreased to reflect increasing interest rates.

Well, it's time for that. The average national savings account interest rates are now over three per cent. But, RCI Elite Rewards redemption values are running 7 to 8 tenths of 1%.

Is it not time to reward my faith, and faithfulness?

What's anyone got to say about that?

 

[Madge]

Jim,

I'll see if I can get more information about this from my side.

 

[sfwilshire]

Just another point about this card. Not sure how much RCI profits from it, so maybe you don't really care, but the two large increases in a row in points required for premiums caused my family to stop using the card. I recall others here expressed the same sentiment. We had been spending a couple of thousand a month on the card. Now, zero.

If this is a benefit for RCI, they should encourage more reasonable points requirements. Some of us might come back.

Sheila

P.S. Just like JLB said above, the changes with no notice were particularly offending. We could have used our points before the increases had we known. It left me with a very poor impression of the company.

 

[JLB]

Yeah, that's what I am saying. But if we get rewarded now that interest rates have gone back up, by a corresponding reduction in point values, then it won't be so bad.

With some cards offering as high as a 5% cash-back premium, it makes a card with a .007% premium look pretty chinzy.

 

[slabeaume]

I originally used that card to make my membership dues payment only to find that it didn't apply to Points members. Why can you use it for Weeks membership, but not Points memberships?

 

[Aldo]

Cut mine in two with a scissors. It turned out to be another RCI ripoff. Any suprise there?

 

[Madge]

I originally used that card to make my membership dues payment only to find that it didn't apply to Points members. Why can you use it for Weeks membership, but not Points memberships?

Slabeaume,

This is a fair question. While I'm working to get a more detailed answer to Jim's question, I'll be sure this one is addressed as well!

 

[Madge]

I originally used that card to make my membership dues payment only to find that it didn't apply to Points members. Why can you use it for Weeks membership, but not Points memberships?

slabeaume,

When you redeem your reward points for "RCI Dollars", you are able to use them for any RCI transaction fees - including RCI Points annual dues and transaction fees. If you are being told by Trilegiant that you cannot do this, please let us know. Send an e-mail to feedback@rci.com with TUG in the subject line. The communications Team can try to get this clarified for you.

 

[Madge]

Jim,

According to the folks here who work on the RCI Rewards program with MBNA, the redemption values are determined in a cooperative fashion between our two companies. The values are based on the costs of administering the program on both sides.

 

[JLB]

Sure.

So will they now be going back up to reflect current interest rates, the same as they came down when interest rates lowered?

Like I said before, these are running about 7/10 of 1% and other credit card premiums are as high as 5%, with 3% being fairly standard.

Jim,

According to the folks here who work on the RCI Rewards program with MBNA, the redemption values are determined in a cooperative fashion between our two companies. The values are based on the costs of administering the program on both sides.

 

[JLB]

To go ahead and answer my own question, at least for now, I received our quarterly mailing yesterday. It runs 30 days behind. There is no mention of changing redemption values.

I checked online to get our current total and redemption values are still the same.

FYI, here's our redemption history:

12/06/2005 $200 in RCI Member Dollars 25,000
05/13/2004 RCI Free Domestic Exchange 23,000
01/22/2003 RCI $149 Vacation Escape 15,000
07/30/2002 RCI Free Domestic Exchange 15,000
07/19/2001 RCI Free Domestic Exchange 10,000

 

[jlfernandez5]

Currently were using their card for the flights as they seem to be the best value for points redeemed. As the cost of the tickets can be as high as 2% of the points redeemed. But what cards are paying 3% to 5% Cashback? I would switch to them in a minute.

 

[JLB]

I'm going by the solictitations we get in the mail, and by what money market account interest rates are.

But what cards are paying 3% to 5% Cashback? I would switch to them in a minute.

 

[Madge]

Jim,

I don't know that the redemption rates won't change again; however, I was not informed that this was planned for any time soon.

 

[JLB]

Thanks. Maybe your inquiry will get them thinking, get the ball rolling.

Jim,

I don't know that the redemption rates won't change again; however, I was not informed that this was planned for any time soon.

 

[slabeaume]

slabeaume,

When you redeem your reward points for "RCI Dollars", you are able to use them for any RCI transaction fees - including RCI Points annual dues and transaction fees. If you are being told by Trilegiant that you cannot do this, please let us know. Send an e-mail to feedback@rci.com with TUG in the subject line. The communications Team can try to get this clarified for you.

Madge,
It was about 2 years ago when I tried to redeem my points for my Points dues and they were very addament about it was only good for Weeks dues. Therefore I redeemed the points for Target gift certificates and never used the card again. Maybe they've changed their policy by now.
Sue

 

[EAM]

Madge,

A number of us have been disappointed to learn (the hard way in some cases) that the points expire 4 years after they are earned. Any possiblity of getting this policy changed to something more customer-friendly? Any possibility of being able to get one's expired points back?

 

[Madge]

EAM,

Similar to the way in which we control how we provide exchange vacations by using a window of allowable time to confirm, we need to have a control in place for how we provide services based on MC reward point redemptions. I will present your question to our liaison here who works with MBNA to see if I can get more detailed information for you about the 4-year limit.

 

[Madge]

EAM,

The 4-year limit is enforced strictly for non-RCI products. However, when points are redeemed for RCI Member Dollars, they do not expire for 10 years.

 

[JLB]

I redeemed points yesterday, and added to the balance from our last redemption, had enough to book another exchange.

It's still not a great premium (17000 points--$17000 in card use--only got us $125--.7%!) but it is still a free exchange, so what the hey!

PS: If I didn't understand bankcard agreements like I do, just the discount rate with merchants (not to mention customer interest on unpaid balances) this would not be such a big deal to me.

 

[JLB]

Off topic but related to EAM's question, some of us probably remember the timeshare surveys we used to participate in here.

I got two $50 Blockbuster cards doing those surveys. They languished in my wallet. A couple years ago we went to rent some videos and I whipped out one of the cards.

They weren't worth anything, In the very fine print on the back of them it says they lose value at a designated rate at a point after purchase date.

Sorta like US money.

 

[EAM]

Clarification

EAM,

The 4-year limit is enforced strictly for non-RCI products. However, when points are redeemed for RCI Member Dollars, they do not expire for 10 years.

Does this mean that the policy is NOT enforced strictly for redemption for RCI products and I still might be able to have my expired points exchanged for Member Dollards?

 

[Madge]

EAM,

Contact Trilegiant at 877/587-8742 to inquire about these points. I'm not sure how that situation would be treated. If you never redeemed them for anything, they may not be renewable now.