Reply To: Important changes to your IHG One Rewards Premium Credit Card – closing

[JDB]

There is simply no reputational consequence for Creation over the IHG cards saga; outside HfP it is beyond inconsequential in the financial/banking world. The FOS involvement means nothing either – there were c.250 complaints made to the FOS about this issue, compared to 165,263 total new complaints reported in 2021/22 and the value of the Creation complaints will also be very low, individually and in total. Even amongst firms that people would consider more respectable, the FOS still receives a big volume of complaints about them.

The Creation business probably has very little if any value anyway, but potentially it’s enhanced by a massively reduced points purchase bill following the closure of rogue accounts in 2021.