Lesson 3: Navigate hidden cardholder benefits
The anatomy of a rewards card & fringe benefits Birth of the charge card It’s 1949 on West 33rd St in NYC. Frank McNamara just finished his meal and realizes that he doesn’t have any cash on him. After his wife brings him cash for his bill, he sets off to spare that embarrassment on anyone else. Less than a year later McNamera launched the Diners Club Card. Despite its cardboard construction and limited acceptance in the early days, it was a novel idea and blazed a trail for the first officia...
Lesson 3: Navigate hidden cardholder benefits
The anatomy of a rewards card & fringe benefits Birth of the charge card It’s 1949 on West 33rd St in NYC. Frank McNamara just finished his meal and realizes that he doesn’t have any cash on him. After his wife brings him cash for his bill, he sets off to spare that embarrassment on anyone else. Less than a year later McNamera launched the Diners Club Card. Despite its cardboard construction and limited acceptance in the early days, it was a novel idea and blazed a trail for the first officia...
Lesson 2: Learn the rules of the game
The first rule of flight club CEOs and other high-ranking managers have to be discerning in how they provide feedback, otherwise an off-hand remark can have unintended consequences. Jeff Weiner, Executive Chairman of LinkedIn, created a shared vernacular for his teams to better understand the severity of his feedback, through a ratings system:Mandate - this is a top priority and must get implementedStrong suggestion - you have the final say, but you should consider thisOne person’s opinion - ...
Lesson 2: Learn the rules of the game
The first rule of flight club CEOs and other high-ranking managers have to be discerning in how they provide feedback, otherwise an off-hand remark can have unintended consequences. Jeff Weiner, Executive Chairman of LinkedIn, created a shared vernacular for his teams to better understand the severity of his feedback, through a ratings system:Mandate - this is a top priority and must get implementedStrong suggestion - you have the final say, but you should consider thisOne person’s opinion - ...
Lesson 1: Maximize the value of your points
On the surface it may seem like every rewards program earns at the same rate of roughly 1 point per penny of spend, so that must mean that every point or mile is worth 1 cent, right? WRONG. Points and miles vary in valueMajor airlines miles hover around 1.2 cents per mileHotel groups are the most variable with most major chains coming in at a measly 0.5 cents per point, with the exception being Hyatt at 1.5 cents per point (3x better)While the above may sound compelling, the best place to sta...
Lesson 1: Maximize the value of your points
On the surface it may seem like every rewards program earns at the same rate of roughly 1 point per penny of spend, so that must mean that every point or mile is worth 1 cent, right? WRONG. Points and miles vary in valueMajor airlines miles hover around 1.2 cents per mileHotel groups are the most variable with most major chains coming in at a measly 0.5 cents per point, with the exception being Hyatt at 1.5 cents per point (3x better)While the above may sound compelling, the best place to sta...
