Hertz just sent out an email to Gold Plus Rewards members announcing a devaluation. The email is so beautifully phrased that I have to post the whole thing:
To continue providing exceptional service to our members, we occasionally make changes to the Hertz Gold Plus Rewards® points program. We are pleased to announce that based on member feedback, coming soon we will be enhancing reward redemption options with new locations and expanded choices.
We also constantly strive to maintain industry-leading reward levels and availability. However, in light of rising costs, we find it necessary to implement our first reward redemption point increase since 2008. Beginning October 1, 2013, point redemption levels for Rewards will increase a modest 10–15% in the United States, Canada, Puerto Rico and U.S.V.I. This will allow us to continue providing both the quality and quantity of reward options our members have come to value and appreciate.
We thank you for your participation in Hertz Gold Plus Rewards and look forward to serving you at a Hertz location soon.
Division Vice President CRM
The Hertz Corporation
So what have we established? Well, they start the email saying they’re “pleased to announce that based on member feedback” they’ll be making positive changes… in the future… and they’re not giving us any details now.
And then they announce that redemption costs will increase a “modest” 10-15% in the US and Canada on October 1. And that’s obviously because they want to be able to continue to provide the quality and quantity of redemption options that we value.
So yeah, there you have it. In fairness the rental car industry has been somewhat exempt from major devaluations lately (probably because they don’t have co-branded credit cards… yet), so in the grand scheme of things a 10-15% devaluation isn’t the end of the world. But it still stings…
(Tip of the hat to Jeffrey)