This is a roundup of news that I have come across during the day. Here you can read about Citi losing $900M, things you should know before getting into the miles and points world, Amex Green card issue, credit card rewards and bank accounts, Subway tuna lawsuit, and remote workers fleeing to luxurious resorts.
Last August, Citigroup Inc. wired $900 million to some hedge funds by accident. Then it sent a note to the hedge funds saying, oops, sorry about that, please send us the money back. Some did. Others preferred to keep the money. Citi sued them. Yesterday Citi lost, and they got to keep the money.
Benjy at Miles to Memories shares the top 10 things he says he wishes he knew before getting into miles and points. “Many times, I simply didn’t know certain products or capabilities existed. Here are my top ten credit card rewards blind spots (in no particular order) and how being cognizant of them can benefit beginners and experts alike.”
Reddit reports suggest that in the case of the AmEx Green consumer card, specifically, even if you have have Pay Over Time disabled it will still count against you as one of your credit cards.
In certain cases, new bank accounts and credit card rewards intersect, and understanding those situations can lead to even more good stuff.
“Independent testing has repeatedly affirmed, the products are made from anything but tuna,” the court papers allege. “The filling in the products has no scintilla of tuna at all,” the suit claims. In fact, Subway’s tuna is “made from a mixture of various concoctions that do not constitute tuna, yet have been blended together by defendants to imitate the appearance of tuna,” the court documents claim.
“People with lockdown fatigue have realized they can continue life in places with a lot less stress and a lot more room to breathe,” says Jack Ezon, founder of Embark Beyond. He’s seeing East Coast clients flock to luxury hotels and resorts in Florida, South Carolina, and Turks and Caicos Islands while West Coast clients flee to Arizona and Puerto Vallarta and Cabo in Mexico—anywhere with equally good weather and Wi-Fi.