J.P. Morgan Chase has today announced the acquisition of the rewards division of cxLoyalty Group Holdings for an undisclosed amount. cxLoyalty Group Holdings is one of the biggest third party credit card loyalty operations. As part of the deal Chase will acquire the technology platforms, full-service travel agency, gift card, merchandise, and points bank businesses and take roughly half of cxLoyalty Group Holdings 3,100 employees. cxLoyalty currently serves many other card issuers including Citigroup, Capital One and payment network Mastercard.
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I notice that cxLoyalty services the Mastercard brand. Could that explain why Chase recently introduced the Freedom Flex credit card as a Mastercard rather than as a Visa?
I don't think thats it. Chase used cxLoyalty before. Chase must be trying to get leverage on Visa. Traditionally Chase was the largest Visa issuer and Citi was the largest Mastercard issuer. But Citi has started issuing some Visa cards, namely the Costco Visa.
Is that a good thing? And when it will be effective?
Oof. I can't stand Citi's portal. Its why I changed to Chase. Maybe time for another switch.
So do we think Citi/Capital One switch to a different vendor now? I think it seems likely
CX Loyalty blows. Their phone reps are the most clueless and dishonest that I have encountered anywhere in the travel industry, and that’s saying something.
I agree, yet they are better than Expedia which is the travel agency that Chase currently uses.
I think some people like the old portal better just for the availability of Disney redemptions with points
What happens to Citi's travel rewards portal now?
Oh no...
Hope they don't switch back from Expedia ...
Why? I hope they switch back from Expedia asap.
Oh Lord please bring back the old travel portal.
Gettin' ready for a 200K Sapphire Reserve signup bonus! We can dream, right? :D
YouTubers being retarded isn't a myth
What?
Just daydreaming haha