Amtrak Mastercard on Chase site seemed to disappear.

Discussion in 'Amtrak Guest Rewards' started by JATX, Mar 6, 2015.

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  1. Apr 7, 2015 #151

    George K

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    http://www.irs.gov/pub/irs-drop/a-02-18.pdf

    But that might change: http://taxfoundation.org/blog/irs-considering-change-tax-treatment-travel-loyalty-points

     
  2. Apr 7, 2015 #152

    Devil's Advocate

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    If IRS guidance on taxation of exchangeable points changes substantially there will be plenty of noise on the matter. It will not be something that slips by unnoticed. For as long as loyalty programs have been awarding points they have not been taxed directly unless and until they were eventually exchanged for a tangible good or service. Unless your favorite loyalty program begins filing 1099's on your behalf I wouldn't worry about it too much. My guess is that any near term changes will target large lump sum bonuses rather than incremental earnings.
     
  3. Apr 7, 2015 #153

    newlatidude

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    Although I'm well immersed in the airline FFP world, I'm not familiar with what airline you may be referencing. But in any case, it's not that the points have no value, but rather that most loyalty programs have it in their T&Cs that the miles/points you earn remain the property of the program and you as the member have no property right to those miles/points. They also usually have language that they can change or terminate the program at will, with no recourse by members.

    Regardless, I don't see any reason for worry here. The possible change of the AGR credit card to another bank (or even ending of an AGR card altogether), doesn't indicate the AGR program itself is in danger of ending.

    If AGR switches to a different bank for its affiliate credit card, the other bank wouldn't just send you a new card unless you applied for it - which would be a good idea as you'd likely get another signup bonus. As to how long your Chase AGR card would be retained as an AGR card, it would depend on what AGR has negotiated with Chase. From past experience in similar changes with airline FFPs, it could be a short time or a long time, hard to tell.

    The second citation you link to doesn't portend a change to taxing the earnings of loyalty program members, i.e., not a change to the IRS statement above from 2002. Rather, it's a potential change to the tax treatment - or the timing of taxes - on the loyalty programs themselves. While this would probably incur more costs for the programs, and result in some sort of devaluation, it wouldn't affect individuals' tax liability for miles/points they earn.
     
  4. Apr 8, 2015 #154

    Linda T

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    Chase credit cards do allow you to close and reopen accounts and get the bonus. We've done it with the Sapphire Preferred. It says , not available to "previous cardmembers of this consumer credit card [also business credit card for Ink] who received a new cardmember bonus for this consumer credit card within the last 24 months."

    I'm hoping that the Ultimate Rewards will still be transferable since I'm working on my spend for my Ink card. I'll be pretty upset if I spend $5,000 on it and get the UR bonus and can't transfer it to AGR. Worse case scenario is I can use the points for hotels I guess. :) I assume that as long as the AGR card is paying the bonus they'll recognize the URs, but nothing's a guarantee in this life.
     
    Last edited by a moderator: Apr 8, 2015
  5. Apr 9, 2015 #155

    George K

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    Checked my balance through chase.com this evening. Here's what it showed for my Amtrak MC:

    Screen Shot 2015-04-08 at 7.53.19 PM.png

    Where the arrow is is where it used to say "Amtrak Guest Rewards".
     
  6. Apr 9, 2015 #156

    Ryan

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    It's still there for me.
     
  7. Apr 9, 2015 #157

    oregon pioneer

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    I still see the AGR logo when I log into chase.com.
     
  8. Apr 9, 2015 #158

    George K

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    Must've been a glitch, because I see it now.

    Apologies.
     
  9. Apr 11, 2015 #159

    CHamilton

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  10. Apr 12, 2015 #160

    the_traveler

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    It just said the card is not being offered to new cardholders, not that it was gone for good! And note that this blog entry was only for transfers to Choice Hotels.

    Let's not jump to any conclusions yet!
     
  11. Apr 12, 2015 #161

    Devil's Advocate

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    So we went from jumping to conclusions to grasping at straws. I guess you could say that the Chase AGR is a zombie card. It's neither completely alive nor completely dead.
     
  12. Apr 12, 2015 #162

    me_little_me

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    Agghhh! Would you believe it? On the 16th of March, I got my new card. On Sunday, the 29th, less than two weeks later, the new card was also compromised. The first was used by someone in the Atlanta area at a supermarket while the same day I was using it at home in NC. The second was used by someone at a supermarket in VA on the same day I was using it on an AGR trip in New Mexico.
     
  13. Apr 13, 2015 #163

    Lakeshore

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    Schrodinger's Card? :p
     
  14. Apr 13, 2015 #164

    jis

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    So what shady outfit did you use your card with in those two weeks? ;)
    I have not had my AGR card compromised in over 5 years now! They did proactively send me a new card after the Home Depot and Target fiascoes, but there was no misuse of my card even then.
     
  15. Apr 13, 2015 #165

    Devil's Advocate

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    I've had cards with more fraudulent purchases than legitimate purchases. I've even had cards that were used fraudulently before they ever reached my mailbox. Considering the utterly useless "security" features of US based cards I'd say the processing network itself is what's shady.
     
  16. Apr 13, 2015 #166

    jis

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    I must just have been incredibly lucky then. In the last 6 years I have had exactly two fraudulent uses. I guess YMMV.
     
  17. Apr 13, 2015 #167

    Devil's Advocate

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    These days the bulk of the world's credit card fraud occurs in the US. In 2012 the U.S. accounted for 23.5% of payment card volume but 47.3% of payment card fraud. In 2013 the cost of U.S. payment card fraud was roughly $7.1 billion while the rest of the world combined was around $6.8 billion. US consumers pay some of the highest transaction fees among industrialized economies, in part because our fraud prevention systems are a total joke. Vectors for credit card fraud are well understood. Lack of proper security features and heavy reliance on easy credit make US cards a uniquely inviting target to hackers worldwide. Massive data breaches followed by relatively minor regulatory fines are becoming routine. So yeah it sounds like you're one of the lucky folks who has yet to even notice there's a problem here.
     
    Last edited by a moderator: Apr 13, 2015
  18. Apr 21, 2015 #168

    PRR 60

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    My new AGR card arrived yesterday, valid through May 2018. Now, that does not mean it will remain an AGR card for three years, or even three months, but at least for now they are still issuing new AGR cards to existing cardholders.
     
  19. Apr 21, 2015 #169

    VentureForth

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    Ditto.
     
  20. Apr 21, 2015 #170

    Bob Dylan

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    Glad to see this since my card expires in May and I have several monthly bills done on AUTO- PAY with the AGR Card!

    FYI: my account closes on the 17th and my AGR Points posted to my account on the 18th!!!
     
  21. Apr 23, 2015 #171

    NW cannonball

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    I've had about 7 cards last two decades or so. Including Chase AGROne fraudulent charge back in the 90's .

    "Lucky" don't think so.

    "Prudent" probably.

    Thinking the "card fraud" topic belong elsewhere, unless specifically Amtrak AGR.

    Thanks.
     
  22. Apr 23, 2015 #172

    Ryan

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    Given the number of breaches, yes, lucky is the right word for it.
     
  23. Apr 23, 2015 #173

    jis

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    Perhaps especially so since I have used some of these cards, but not AGR, since it charges extra for foreign exchange conversion, in very high risk countries like India, Thailand and Russia during this period.
     
  24. Apr 24, 2015 #174

    George K

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    Sigh...

    Just got a text from Chase about my AGR MC.

    Seems someone charged something on my card ... in Canada. Since I live near Chicago, that's highly unlikely. I've had lost cards used in the past, but nothing like this.

    New cards coming...
     
  25. Apr 24, 2015 #175

    FrensicPic

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    In my experience, Chase has been very proactive regarding fraudulent use. Once with my AGR MasterCard and once with my debit card. Both times, the cards were in my wallet. With the AGR credit card, I received an email asking me to verify or deny a pending purchase. The account was closed and a new card sent. With the debit card, someone made a purchase at a location less than 20 miles from me. That notification was by telephone. The money was replaced pending outcome of an investigation.

    BTW, Chase will not tell you what triggered the "red flag".
     

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