Rene sent me this article from Chicago about credit card companies not awarding your points if you are late in paying your bill.
You will have to pay a reinstatement fee to get your points or miles credited if you are late with your payment, in addition to the late fee.
As a consumer, I hate the idea, but my past banking background says this one really makes sense. Any move that banks can make to help people become more responsible with their credit, I am all in favor of.
I may take some heat for this position, but for me the feeling is not new. I have never been in favor of overextending yourself for the sake of a few miles or points.
We mileage junkies are in a unique position of having the urge to accumulate points and miles. It can be addictive at times.
If this new reinstatement fee wakes up a few of our brethren that are late because of the addictive behavior, then, I’m all for it.
To any of you that are in that boat, for your own sake, stop for a minute and think about what you are doing.
Here is the article link.
Remember, your credit is one of your most important assets.