My 2023 Predictions for the Miles and Points World

Again in 2016, I started a practice of making an attempt to foretell the journey / rewards market in Canada. The primary yr was tough, but it surely acquired higher over time and not too long ago levelling off. How did it go in 2022?

Under are my earlier scores:

Recap of 2022

Let’s see how I did in 2022:

• Non-Journey Associated Program Takes a Large Leap. With Scene+ taking such a serious leap in 2021, I assumed one other program would step as much as compete with them in a serious manner. Since that didn’t occur, the miles and factors world in Canada is beginning to be very high heavy. The robust corporations are doing properly, however the ones on the backside might battle. Hopefully an organization will step up ultimately. 0/1
• A New Excessive Finish (Premium) Credit score Card. I might need been a bit a bit too bold on this one. I assumed that since most main banks have already got at the very least one premium card for large spenders that another person bounce in to compete. For instance, possibly a TD Rewards model since all the opposite majors banks have a card tied to their inner loyalty program. Or maybe one of many smaller banks, like Nationwide Financial institution would step up. Alternatively, I assumed possibly there can be a serious revamp of an current card, which I might have gotten half some extent for. 0/1
• Money Again Loopy. The momentum that was created in 2021 undoubtedly carried over into 2022 to the purpose that 10%+ money again promotional presents are the brand new norm for a variety of economic establishments. Moreover, not solely did Tangerine proceed its 15% enroll money again provide all through a lot of the yr, we noticed the likes of HSBC upping their sport into the ten%+ territory. 1/1.

Total, I had a tough outing in 2022, ending the yr at 1/3. Possibly I used to be too aggressive final yr. I’d like to be proper, however I don’t need to make it that straightforward on myself both!

Predictions for 2023

Let’s strive once more this yr. Let’s go for a extra balanced method this time by going for one thing extra sensible. Needless to say I solely concentrate on optimistic predictions. I fairly not spend the yr hoping that one thing dangerous will occur.

1) Extra multiplier bonus presents

With inflation kicking into the excessive gear and with so many bank cards within the Canadian market these days, I feel most bank card corporations are going to concentrate on internally enhancing their product. One of many issues that must be improved over time is multiplier bonuses for spending on particular classes.

2) Important merger

I see a variety of small corporations hanging round. However for them to develop, it is going to be troublesome to do it organically, so they could must lock arms with one other firm. Due to this fact, I believe that two main Canadian corporations are going to drag theirs assets collectively. Some examples embrace:

3) Extra competitors within the airline trade

With Aptitude Airways and Porter Airways stepping up in an enormous manner (comparatively talking for a Canadian) in 2022 by increasing their companies, now we see if their concepts are going to make a dent on the trade. Are they actually going to compete with the large boys, or are they going to settle right into a consolation zone? Is one other firm additionally going to step as much as compete?

What are your predictions for 2023? Please tell us within the remark part beneath!