As we shut out 2022, we proceed with our year-end collection of grading our want record from our first put up of the yr. This report card is a continuation of our yearly mid-term report again on Canada Day (July 1st of yearly).
Remember the fact that all needs have the objective of being a win/win/win state of affairs for everybody concerned (bank card issuer, buyer and third celebration loyalty firm), in order that it’s honest throughout the board. In some instances it’s simply win/win as a result of one celebration just isn’t concerned (e.g. a bank card firm who affords an in-house loyalty program and the client as the one different celebration).
Grading System
Earlier than we get going, under is a recap of the grading system:
- A+ Exceeding expectations with nothing extra to enhance on (virtually unimaginable to attain this grade, however I listed it to place some perspective on the spectrum)
- A Superior job
- B+ Good job
- B Respectable, met expectations
- C Acceptable
- D Higher than nothing
- E Nothing modified, no enhancements
- F Fail, went backwards
Now, onto grading how we completed the yr.
1) Both a brand new co-branded airline or lodge loyalty bank card
Precisely what I stated in the course of the mid-term report: “For years now, nonetheless no progress right here. Not even a hearsay to work with?”
I’ve included this merchandise on my want record for the reason that first entry in 2015. It began again then as a result of that was after we noticed a collection of closures together with Capital One’s Delta SkyMiles and IHG Rewards, in addition to MBNA’s Alternative Privleges co-branded bank cards. I hoped another person would step up and fill among the void that was left behind. Nevertheless it has been so a few years, but nonetheless nothing. To make issues worse, we noticed the top of the MBNA Alaska Airways, in addition to the Finest Western co-branded bank cards. Two main hits to the trade.
On the mid-term we had an “E”, however now we’ve got to change to a failing grade…
Grade: F
2) One bank card firm making a major bounce
We just lately posted our rankings (see: Rating the Credit score Card Portfolios of Every Canadian Monetary Establishments). There have been some minor modifications to the record, however nobody firm made a major bounce.
Scotiabank is now pretty stable in second place, because of TD’s drop and Scene+ increasing its rewards program. Additionally, Rogers Financial institution expanded with the Connections bank card to their portfolio which now additional separates them from the businesses ranked under them, however not sufficient to leapfrog those above. They’re making an attempt to make some noise in 2023.
We are going to see how that performs out, however a minimum of it’s higher than nothing.
Grade: D
3) Extra Progress In direction of Excessive Velocity Trains
Extra progress right here since our mid-term report, with the Federal Authorities making an announcement on October 31, 2022: Authorities of Canada advances the procurement course of for Excessive Frequency Rail. VIA Rail continues to work to extend the speeds of trains between its Québec Metropolis-Montréal-Ottawa-Toronto hall. The Request for {Qualifications} is anticipated to start in early 2023, so hopefully this continues to maneuver in the proper course.
Total, extra progress was made for the reason that mid-term, so we will even most the rating up a notch!
Grade: B
4) A Model New Transferable Factors Program or New Partnership
Scotiabank and Scene+ teamed up final yr, however they made some main upgrades to their factors program this yr. They’re nonetheless lacking the flexibility to switch to accomplice airways and accommodations. With Scotiabank enjoying a a lot greater function with Scene+, they’ve the flexibility to actually develop this system additional.
This want merchandise has been a staple for years now, however now that we noticed a lot progress with Scene+. Not like merchandise #1 (talked about above) I can now pull this off my want record for the foreseeable future.
Grade: B+
5) One Airline aside from Air Canada Breaking Out
Aptitude Airways actually took their enterprise up one other degree this yr and shut out the yr sturdy with a significant enlargement of their service. Regardless that they’d some hiccups alongside the way in which, hopefully this units them up for an excellent stronger 2023. I’d like to see Aptitude Airways be a high 3 airline in Canada within the coming years, whereas preserving their enterprise mannequin as is.
Moreover, Porter Airways is increasing westward by including a flight between Toronto (YYZ) and Vancouver (YVR). That may be a vital transfer that might put them in direct aggressive with Air Canada and WestJet. Seems to be like shifting to Pearson airport has opened up just a few extra doorways for Porter.
I’m trying ahead to seeing what these two corporations have in retailer in 2023 to warmth up the competitors!
Grade: A
Ultimate Ideas
Remember the fact that the want record is all the time an extended shot to start with, so any type of progress is all the time a win in my books. Final yr ended up being the strongest yr ever when it comes to fulfilling my want record. This yr appears to have completed at about the identical!
Tomorrow we are going to launch out 2022 want record. Within the meantime, what are your ideas about our want record? Please tell us within the remark part under!
