Important changes to your IHG One Rewards Premium Credit Card – closing
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IHG having a possible new partner has nothing to do with creation, and so would not be mentioned in a creation email. And if IHG do have a new partner, IHG will announce it at a time they determine to be best, and will not be swayed by creation announcing the end of their agreement. It’s not as if existing card holders can be transferred to any theoretical new card supplier as its a different company and will need a new application.
I ‘ve got a bunch of points sitting in my (closed) Creation IHG card account, plus a small credit.
I wonder if Creation will handover those points now.Lets hope so, otherwise the sledgehammer is already on the back seat ready for my short trip down the M42!
I’m pretty annoyed as it’s been such a great credit card for me. My annual membership is due in a few weeks time, but can’t really cancel it before then as I’ve really exceeded the spend threshold for my free night voucher.
I hope they honour the free night voucher…
I should keep my diamond status this year which is great as I’ve got several trips planned. I’m thinking that beyond next year I’ll just keep my ambassador status going and ensure I do at least one stay to keep my points alive.
I’m not sure what credit card to go for instead.. maybe just stick with Anex Gold until something crops up.
I really wish we could get the chase IHG cards here in the UK..
if you have not had a MR points earning card in the last 24 months pls consider the plat card before jumping to gold.
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if you have not had a MR points earning card in the last 24 months pls consider the plat card before jumping to gold.[/quote]Thanks, unfortunately I’ve been a long term holder of the Amex Gold so platinum probably not worth it for me.
Next, whats the odds on the deathwatch for the Hilton barclaycard?
Rob mentioned a few weeks ago that there are no plans to close the Hilton Barclaycard to existing cardholders.
That as may be, nothing lasts forever and it’s foolish to expect this might.
It might be the oldest non-Amex affinity product which is still out there at this point mind.
Thankfully we’ve spent heavily on the card that just renewed and have already earned the voucher on the other, £1870 to spend in 2 months should be straightforward. It was only a matter of time, not holding my breath for an alternative, there’s been nothing Hilton for years.
Creation also need to be far more proactive in communicating pro-rata fee refunds, whether those who have spend £10k but whose anniversary is after the closure date will get their free night (they should) and by what date it is expected to be loaded to IHG.
To be fair to them on this occasion I think they’ve been fairly clear on these issues:
• A pro-rata refund against your annual fee** will be completed. The amount refunded will depend on the amount of time between your Anniversary date and the termination date of 27 June 2023
• The pro-rata refund will be repaid off your account balance by the end of July 2023.• Spend £10,000 or more between your anniversary date and 27 June 2023 to qualify for and receive an Anniversary Night
• If you choose to close your account before moving to the Creation Credit Card, you can still claim your Anniversary Night as long as you’ve spent £10,000 since your last Anniversary date.I wonder if this means IHG will be looking (or may already have found?) a new UK credit card partner? 🤔
If they had already found a new partner, usually one would expect that to be announced at the same time and accounts transferred to the new provider with new terms to give that new firm a starting customer base. Not impossible of course, but makes it less likely there’s an immediate replacement.
What you are describing has literally never happened with an affinity arrangement ending in the UK, to my knowledge.
None of the MBNA affinity cards transferred anywhere; even the Virgin Atlantic ones (the new Virgin Money ones had recently become available when MBNA pulled the plug).
Didn’t happen with the IHG Barclaycard either, nor the JLP cards, nor the Post Office cards…
The normal course of action is one or a mixture of:
a) cards are replaced by a non-affinity product, e.g. Costco Amex replaced by Amex Plat Cashback
b) end date is advised and after that cards are closed
c) customers are pointed to new affinity card and asked to reapplyWash your mouth, @JDB is never wrong 🤣
Thank you @PeteM ! I’m unfortunately often wrong and happy to admit it when I am, but in this situation when a card provider wishes to shut a particular card or has a contract terminated, they have essentially three options – 1) close all the accounts and wind up the operation, or 2) transfer the card accounts to another in house product or 3) sell the accounts/balances to a third party. I was involved in a transaction via the last route when Egg sold over 1m accounts to Barclaycard and the savings & mortgages books were sold to YBS. There is no reason that affinity cards are any different; it simply depends how the relationship ends, to an extent how IHG/the affinity brand wants to handle the situation and whether the new affinity provider (if there is one) wants to buy a book and can transfer that to its platform and/or want to pay for those customers or prefer to pay to start from scratch.
There was also an automatic product transition (with the usual right to cancel) when Tesco Bank bought out RBS who had hitherto been the issuer and operator of the Tesco (affinity) cards.
Thank you @PeteM ! I’m unfortunately often wrong and happy to admit it when I am, but in this situation when a card provider wishes to shut a particular card or has a contract terminated, they have essentially three options – 1) close all the accounts and wind up the operation, or 2) transfer the card accounts to another in house product or 3) sell the accounts/balances to a third party. I was involved in a transaction via the last route when Egg sold over 1m accounts to Barclaycard and the savings & mortgages books were sold to YBS. There is no reason that affinity cards are any different; it simply depends how the relationship ends, to an extent how IHG/the affinity brand wants to handle the situation and whether the new affinity provider (if there is one) wants to buy a book and can transfer that to its platform and/or want to pay for those customers or prefer to pay to start from scratch.
There was also an automatic product transition (with the usual right to cancel) when Tesco Bank bought out RBS who had hitherto been the issuer and operator of the Tesco (affinity) cards.
Perhaps you were thinking of the time GE Capital Finance left the UK Market and Santander bought their storecard book (Debenhams, Topshop, Frasercard etc), migrating across to their platform. Santander then sold off to SAV.
I’m sure my Allders account tom-catted around a few providers without a new application too.
As someone caught up in the Curve snafu I’m glad Creation are pulling out. Totally useless company. Hopefully another financial institution picks up the baton. Any rumours Rob?
As someone caught up in the Curve snafu I’m glad Creation are pulling out. Totally useless company. Hopefully another financial institution picks up the baton. Any rumours Rob?
My money is on chase
As someone caught up in the Curve snafu I’m glad Creation are pulling out. Totally useless company. Hopefully another financial institution picks up the baton. Any rumours Rob?
My money is on chase
Fingers crossed
Fingers crossed
Let’s hope so!
Disappointed to receive this email today.
Anyone tell me how I find out what my “anniversary” date is with Creation ?
Thank you @PeteM ! I’m unfortunately often wrong and happy to admit it when I am, but in this situation when a card provider wishes to shut a particular card or has a contract terminated, they have essentially three options – 1) close all the accounts and wind up the operation, or 2) transfer the card accounts to another in house product or 3) sell the accounts/balances to a third party. I was involved in a transaction via the last route when Egg sold over 1m accounts to Barclaycard and the savings & mortgages books were sold to YBS. There is no reason that affinity cards are any different; it simply depends how the relationship ends, to an extent how IHG/the affinity brand wants to handle the situation and whether the new affinity provider (if there is one) wants to buy a book and can transfer that to its platform and/or want to pay for those customers or prefer to pay to start from scratch.
There was also an automatic product transition (with the usual right to cancel) when Tesco Bank bought out RBS who had hitherto been the issuer and operator of the Tesco (affinity) cards.
Tesco have never had an affinity credit card arrangement, the agreements have always been between Tesco Personal Finance (later renamed Tesco Bank) and their customers. Tesco Personal Finance was previously partially owned by RBS, but that is very different from RBS being the issuer and operator. http://web.archive.org/web/20070209234750/http://www.tescofinance.com/personal/finance/finance/creditcards/clubcc/index.jsp
(It’s a similar situation with Sainsbury’s Bank and HBOS, although Sainsbury’s do now indirectly have an affinity arrangement with Amex via their acquisition of Nectar)
Perhaps you’re confusing this with Virgin Money’s takeover of the Virgin credit cards previously issued by MBNA (not including Virgin Atlantic cards)?
Egg didn’t have any affinity products did they? Note that I’m not saying that it’d not be possible for a new partner bank to purchase the book relating to a previous partner bank, but I am saying it has not happened with regards to an affinity arrangement.
They still haven’t even sent me the email!
Given no reported closures of the Marriott cards yet, I presume that either IHG have pulled the plug on this (promising) or the contract reached a natural end-point (less promising).
Given no reported closures of the Marriott cards yet, I presume that either IHG have pulled the plug on this (promising) or the contract reached a natural end-point (less promising).
Or maybe BNP suggested to Creation that the cards were no longer worth running, given all the hassle they have had following the mass misuse closure of accounts?
Still no e-mails from Creation about the cards here…
For BNP, Creation doesn’t really fit into the current model for their UK business (which is anyway more corporate focussed). The personal finance business is mainly much more upmarket, notably with their acquisition of Strutt & Parker a few years ago.
For BNP, Creation doesn’t really fit into the current model for their UK business (which is anyway more corporate focussed). The personal finance business is mainly much more upmarket, notably with their acquisition of Strutt & Parker a few years ago.
Which suggests yet another possible scenario:- BNP want rid of Creation, and feel that this would be easier to achieve without all the publicity surrounding the iHG cards.
As the remaining Marriott cards are presumably ticking over quietly in the background, they would not be seen as an impediment to a disposal?
Given no reported closures of the Marriott cards yet, I presume that either IHG have pulled the plug on this (promising) or the contract reached a natural end-point (less promising).
Or maybe BNP suggested to Creation that the cards were no longer worth running, given all the hassle they have had following the mass misuse closure of accounts?
Still no e-mails from Creation about the cards here…
If that were the case, I would suspect it’d be all affinity cards being closed and cards being closed rather than just debranded/stripped of rewards.
For BNP, Creation doesn’t really fit into the current model for their UK business (which is anyway more corporate focussed). The personal finance business is mainly much more upmarket, notably with their acquisition of Strutt & Parker a few years ago.
Which suggests yet another possible scenario:- BNP want rid of Creation, and feel that this would be easier to achieve without all the publicity surrounding the iHG cards.
As the remaining Marriott cards are presumably ticking over quietly in the background, they would not be seen as an impediment to a disposal?
All the publicity? For real?!
This isn’t the TSB system failure. So much as I appreciate Head for Points I can’t imagine BNP Parabis are quaking in their boots at the negativity (mostly in the comments and forum!).
For BNP, Creation doesn’t really fit into the current model for their UK business (which is anyway more corporate focussed). The personal finance business is mainly much more upmarket, notably with their acquisition of Strutt & Parker a few years ago.
Which suggests yet another possible scenario:- BNP want rid of Creation, and feel that this would be easier to achieve without all the publicity surrounding the iHG cards.
As the remaining Marriott cards are presumably ticking over quietly in the background, they would not be seen as an impediment to a disposal?
All the publicity? For real?!
This isn’t the TSB system failure. So much as I appreciate Head for Points I can’t imagine BNP Parabis are quaking in their boots at the negativity (mostly in the comments and forum!).
No, it is not TSB. But I am not talking about the public image of Creation here. I would have expected that there will have been significant chatter among other bankers, in view of the FOS involvement.
If, as you say, Creation does not ‘fit’ with the rest of BNP’s business, then BNP is not unlikely to be considering a disposal. And if they want the best price possible, then they would want Creation to be free of as much negative baggage as possible.
There is simply no reputational consequence for Creation over the IHG cards saga; outside HfP it is beyond inconsequential in the financial/banking world. The FOS involvement means nothing either – there were c.250 complaints made to the FOS about this issue, compared to 165,263 total new complaints reported in 2021/22 and the value of the Creation complaints will also be very low, individually and in total. Even amongst firms that people would consider more respectable, the FOS still receives a big volume of complaints about them.
The Creation business probably has very little if any value anyway, but potentially it’s enhanced by a massively reduced points purchase bill following the closure of rogue accounts in 2021.
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