Anna Maria Andriotis

speaker

3,396 appearances 52 recordings 1 series first heard Jul 2017 last heard Dec 2022

Anna Maria Andriotis’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Federal Loan Forbearance Doesn't Relieve Financial Strain for All · 16 Dec 2020 podcast

Great speaking with you.

Thanks so much.

WSJ Your Money Briefing · Airline Rewards Cards Struggle to Keep Customers Amid Travel Bans · 8 Dec 2020 podcast

And so this is a challenge for the airlines and the issuers, that they're trying to keep these people engaged a good nine months into a pandemic when leisurely travel for most of the population still seems a ways off. matched

Great to be speaking with you. matched

Airline credit cards are among the most coveted rewards cards out there, and that's been the case for over a decade, but certainly that demand from consumers for these cards intensified during the last 10 years or so. matched

Now, consumers want them because it's aspirational, the idea that you can use these cards to get flight upgrades, free seats on flights, et cetera, access to airport lounges, matched

The banks like them in part because travel tends to attract a group of consumers that is well-off, that spends a lot, and to whom banks want to sell other services to as well. matched

And for the airlines, it really is a critical tool matched

for them that essentially allows them to be profitable. matched

So for a long time, it's been looked at, these cards have been looked at as a type of product that has benefited a variety of parties, but those benefits aren't really as clear cut right now, given that we're now into this pandemic a good nine months or so, at least in the U.S., matched

For the issuer, the goal is essentially you want to keep this cardholder. matched

You don't want to see a significant increase in cancellations. matched

So you want to keep them. matched

And so essentially, if you can keep them, even if that means downgrading their card to a cheaper one, that's considered on some levels to still be a kind of win for the issuer. matched

At the same time, the issuers are dealing with the challenge of matched

incentivizing people who have these airline cards to continue spending with them. matched

So overall credit card usage has been down in the US since the pandemic began. matched

However, one of the hardest hit categories of spending matched

has been travel purchases. matched

So with American Express cards, for example, travel and entertainment purchases were down 69% in the third quarter compared to a year prior. matched

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