I'm interested to see if that works out, and curious what it means for international cards with lots of perks. I imagine, for example, it wouldn't change anything right away for a Chase Sapphire card issued in the US, but if more countries followed suit there would eventually be a tipping point and card benefits would be reduced.

I guess the issuers all have complex models that take these things into account. In any case, I think it's a good move.