Excellent points across the board. My take on the benefits:
1. Global Entry/TSA Precheck: not that valuable to me because I have a no annual fee card that covers this: the FNBO Travelite card. Even if I didn't, the cost is $100 for 5 years, so $20 per year as opposed to an annual fee increase of $61 per year over the arrival plus.
2. Lounge access: I don't consider having to pay nearly $30 per visit as "lounge access." I do highly value lounge access when it doesn't involve additional payment.
3. Having to spend 25k to maximize rewards: It's just a lot of cash to run through a single card. I keep multiple cards, and I will adjust my use based upon my what will best serve me for my next contemplated award. I don't like the notion of having to put all or most of my annual spend in a single card.
4. Agreed that churners won't give this card a second look without a sign up bonus. Of greater concern though, is this: how many other potential customers will pass on this for the same reason?
5. There's a well known premium card with a $450 annual fee with a $300 annual statement credit for travel purchases...so essentially a $150 annual fee for anyone who drops north of $300 per year on travel. It comes with free lounge access, global entry, and a host of other benefits. Now it doesn't earn 2x everywhere, but its points are redeemable for travel at 1.5 cents per point, and it earns 3x points in travel and dining, and I can easily get north of 2 cents per point by leveraging their transfer partners (like using 25k points transferred at a 1:1 ratio to Korean Air Miles to yield a roundtrip coach ticket to Hawaii on Delta from the east coast). Oh, and the card comes with a big signup bonus. I have trouble seeing the new Arrival Premier successfully competing against the likes of such cards. Then again, I'm sure Barclays did their market research on this and they know more than I do!
My thoughts exactly. I want this new card to succeed because that's good for me and for Barclays.
I have thought about that other card. If I was a frequent traveler as opposed to being a regular traveler I would have it in my wallet.
Agreed. This card succeeding would be good for all of us, and as you astutely pointed out, it wouldn't take much to increase the value proposition and give the card a broader appeal. Like you said, doing pretty much any 2-3 of your ideas would do that.
I'm not spending $25,000 per year on it, and short of that the benefits just don't measure up to many other products. I think very few people will really find it a great card, though more may sign up for it just out of all the hype.
I just don't understand why they keeping harping on "loyalty" bonus miles when they are talking about the additional credits. If Arrival and Arrival Plus users aren't being offered any sort of upgrade bonus and our miles aren't transferrable (and if we upgrade we lost the 5% redemption bonus), there isn't really any loyalty there...
And even though the card is 3% cash back, in reality it's closer to 2.4% with the annual fee and that's only if you hit the $25k spending mark. I think I'd be better off putting my spending on card that gives 2% and no annual fee.
Good points, hdhock3y.
The more I think about it, the more I believe that Barclays is testing the waters with a "soft launch" of this card. I say this because I have yet to see a single paid advertisement for the new card. All the buzz that I have heard has been through bloggers or financial news sites. Little to no money is spent on that kind of promotion. Compare this to the big ad campaigns that we are used to seeing for new cards: TV commercials, internet banner ads, billboards, etc. are often employed in a major ad "blitz."
All this to say I think there's a chance Barclays is aiming to get a baseline read for the card in its current state, and perhaps it intends to tweak the benefits going forward if the market dictates that. After all, isn't it somewhat odd that Barclays isn't even pushing the card here within the Travel Community?
Stormtroopin2 raises an interesting point. I have not seen any advertisement for this card save for the YouTube ad. Plus, I understand there is no instant approval yet.
With some tweaking, this could be a very good card so I am keeping an open mind as I wait for any possible alterations.