E-Z Money

EZ's loyalty program -- EZ Money -- is not exactly great. In our previous review, we noted the program truly has no easy components at all. Points expired after 18 months (no exceptions), rates have to be booked directly through EZ (to avoid competition), only 13 of the 56 locations participated, and one would have to spend $400 in base rate within the 18 months simply to redeem a $20 credit. Then EZ-Money introduced what they described as "mind-blowing benefits". We wouldn't go so far as to say mind-blowing in the sense intended by EZ's PR team; we would go with "perplexing".  

In the days after April Fools, EZ decided that their almost impossible to earn points could be redeemed for Bitcoin (or Ethereum or Litecoin). I initially thought the email was a prank sent on the wrong date.

We certainly didn't expect this development.

Redeeming EZ Money Points for Cryptocurrency

We would say that EZ "Jumped the Shark" or "Nuked the Fridge" with their cryptocurrency offering but that would imply that EZ Money was once a notable program that suddenly stretched their premise thin. The unfortunate souls with EZ Money points could decide to redeem those points for cryptocurrencies including Bitcoin, Ethereum, and Litecoin through a partnership with CryptoRewards Exchange, a startup that doesn't currently list any partners. CryptoRewards Exchange appears to be much like Points.com in that one can "exchange" points from one loyalty program point for another, losing a lot of potential "value" in the process. By signing up for CryptoRewards Exchange (operated by Persuade Loyalty), the minimal partial cryptocurrency one would receive also could not be sold unless transferred to an actual exchange.  

Persuade does not allow for the purchase of digital currency, outside of the redemption of partner loyalty program points and miles. Persuade also does not allow for the sale of digital currency within the Website. Sale or subsequent exchange of digital currency requires You to send your digital currency to an external third party to facilitate the desired action.

Coincidentally, Persuade Loyalty is the same group who designed the loyalty programs for Advantage, Canadian North, and (of course) EZ! Nothing to see here! Although I'm AutoSlash's resident guinea pig, I did not burn my limited EZ Money points for a few pennies of a tiny fraction of a cryptocurrency. 

And this blog post's title? It derives directly from Persuade Loyalty's website. We've known that the AutoSlash team has an old yet innovative soul, finding the best prices for our fellow travelers. Now, we have a company telling us that our values -- of saving money through traditional loyalty programs -- are for "oldies".

We're still fans of free rental days but thanks for subtly insulting thinking of us!

Can I Redeem Cryptocurrency for a Rental from EZ?

Of course not. EZ's trying to run a rental car business and their cryptocurrency offering was a bit late to the game. At the time the announcement was made in early April 2018, Bitcoin, Ethereum, and Litecoin were all trading at less than 1/3rd of their record high prices.

Eddie Money reminds EZ Money users to not be fools.

Cryptocurrency isn't the Only Change

We have to note there are some improvements to the program -- one is that a renter now earns 10 points per dollar spent but in exchange for that additional benefit, the Terms and Conditions no longer reference which locations participate in the program. We can't be encouraged when our blog mocks a program as not being transparent, and that program subsequently becomes less transparent.

Yet there is another improvement of note -- the program also now allows renters to redeem for add-ons other than rental credits and cryptocurrencies. Last year, we scooped Avis on their new functionality allowing renters to redeem Avis Preferred points on GPS devices and child safety seats. EZ has followed suit, allowing a renter to redeem 2,000 points (equivalent to $20 in EZ Money) for a GPS device, child safety seat, or toll pass. We're still ardent supporters of using our own GPS-enabled devices (online or offline), child safety seats, and bringing toll devices from home (if possible) to reduce costs and provide familiarity when traveling.

We're happy to see a renter-friendly -- but often avoidable -- redemption option added to the award chart.

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