A reader was talking with a CNB concierge rep on 9/25, and was alarmed that the rep told them that point redemptions were now 1.1c versus the 1.3c that you normally were getting. Luckily, they were just early and it actually hadn’t gone into effect yet. Well, I talked to 2 reps last night and they said an email went out to members on 9/30 (spoiler – it didn’t) that the point value change goes into effect 10/1/19.
If you’re confused by all this, well you know how when you book travel using their rewards travel portal, you get that convoluted 1.2c of value where prices are inflated… well, if you book travel using their concierge (the other phone number on the back of the card,) you actually get 1.3c of value. What happens is the concierge essentially books the cash rate using your card, and then a week or so later, they redeem points against the charge at an exact rate of 1.3c of value. Thus, it was nearly a 3.9c “unlimited” grocery MS card; the best in the game. Now that it has gone down to 1.1c of value, then the portal is the better route at 1.2c. RIP old friend.