Here’s something I hoped to not have to write so soon in the history of this blog – a retraction. I could defend myself by saying it’s still a FlexPerks-like redemption schedule, but I’ll admit it looks like I’m wrong on the major point.
A few days ago, I posted about my conversations with reps from Elan Financial Services, who had told me that the reward structure for the new Fidelity Visa Signature card would effectively make it a 4% back card. Unfortunately, I took them at their word and posted about that. Over at Loophole Travel, writer Zach has posted his experiences with the card and the online rewards center, and it doesn’t look good. He gives a good overview of his story, but it basically looks like the most value you can get from the card is 2%.
I’ve since called Elan several more times, and the reps still tell me that the redemption schedule is 20 000 points for a flight up to $400, but it looks to be a case of reps giving bad information.
There’s still a bit of hope for point transfers, but I tried transferring points from my US Bank Amex to a Fidelity Visa, and it wouldn’t go through (despite the fact that a rep told me it should). Maybe it’s only one way or it can’t be done between a Visa and Amex, but it really isn’t looking good.
Sorry if I got people’s hopes up and let them down. I know my credibility is probably a bit shot right now, so I’m going to have to double back and make more, and more importantly, better posts. Hopefully I can keep some people around.