Brat Summer? Not for Points and Miles

The word on the street is that this is brat summer, but in the world of points and miles… this summer has been very much not brat. 

Here are three reasons why: 

The American Express® Gold Card raised its annual fee

That’s a 30% increase.

To justify the increase, the card packs in a bunch of new statement credits. 

I’m keeping my card open because it rewards grocery spending, which is a big part of my budget. Plus, I can use the new statement credits offered because the restaurants are available where I live. 

Some of my friends and colleagues at Going are less bullish on the card’s changes. 

• Erika thinks the new benefits don’t justify the fee. When her annual fee renews, she plans to ask for a retention offer. If she doesn’t get one, she said she will likely downgrade the card. 
• Daniel is leaning toward keeping it open: He says, “A big part of that is that there is one, single, Resy restaurant where I live that I happen to already eat at regularly, so the credit is useful to me. Without that inclusion, I'd probably cancel."

That said, if you’ve never held this card before, now is a great time to apply because there is a special limited-time offer on the card.

Read our review of the Amex Gold card.

The Bilt Mastercard® is getting a little less rewarding

For my mathletes reading, that’s a 90% decrease. 

Here’s the context: The Bilt card that lets you earn points on rent also offers a bunch of “Rent Day” perks only available on the first of the month. One of those perks has been earning double points on all non-rent purchases on the first of the month. 

So, if you had a recurring streaming or utility bill charge on the first of the month, you’d earn double points on that purchase. 

Dining and travel purchases are bonus categories on this card, and on the first, you can double the rate you’d earn in those categories, too.

With this new 1,000-point cap, you are likelier to max out this benefit. At best, you can spend $500 to earn the max. And if you spend in a category that earns bonus points like travel or dining, that dollar amount is even lower before you cap out.

Virgin Atlantic devalued its award space

“Devaluation” is to points and miles what “inflation” is to Jerome Powell and the Fed.

It is when your points and miles become less valuable because an airline charges more points and miles for the exact same redemption. 

Points and miles enthusiasts loved Virgin Atlantic for the ability to book US to Europe flights on Delta One. Delta and Virgin are partners, and if you could find the space, you could snag a business class seat on a transatlantic flight for a lot less than it’d cost you in SkyMiles.

Plus, every credit card’s points transfer to Virgin, which meant anyone who could find the space was able book this redemption. This was a nice workaround if your card doesn’t transfer to Delta SkyMiles. 

It’s still possible to use Virgin points to redeem for a Delta One flight to Europe, but as of this summer, it will cost you more Virgin points. For example, here’s the change from the West Coast to Europe:

• The old price: 50k Virgin points, plus $5.60 taxes. 
• The new price: 77.5k Virgin points, plus an eye-popping $1,000+ in taxes. 

That’s a 55% percent increase, plus a lot more money from your bank account. 

This is brat: New airport lounges

I’m an eternal optimist, so I have to end with good news: New airport lounges are coming.

A brand new Centurion Lounge opened at DCA last month. Two more are in the works: one at Newark Liberty International Airport (EWR) and one at Toyko Haneda International Airport (HND). 

• Want in? Holding one of these cards will help. 

Delta opens a new premium Delta One Lounge at JFK. In a response to overcrowding at Sky Clubs, Delta rolled out its very first lounge that is exclusive to premium cabin ticket holders. 

• Similar lounges are coming to LAX and BOS soon.
• No credit cards will get you into this lounge though—you’ll need to have a same-day Delta One ticket to enter. 

On the horizon: Capital One Lounge at JFK. This will be the fourth addition to this up-and-coming lounge network. 

• Personally, I’m most excited about visiting the lounge at DFW because it has Pelotons. That’s brat.