Whittling away rewards can alienate customers on loyalty programmes
Consumers love loyalty rewards programmes, but they really, really hate it when the rewards get diluted after they’ve signed up. FNB has announced yet another change to its cardholders’ airport Slow Lounge benefits from next month, one that will not sit well with Premier cardholders who make up the bulk of the bank’s card base. The big change is that all free Slow Lounge visit allocations will move from monthly to annually. So while Premier credit card and cheque card holders can now visit a Slow Lounge at no charge before their flight’s departure twice a month, from January those on the lowest eBucks level will be allocated just two lounge visits for the entire year. Even on the highest eBucks tier — Level 5 — they’ll qualify for 12 free Slow Lounge visits a year: half what they get now.