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Credit Card Companies Reduce Benefits of Rewards Credit Card Offers
I think that every credit card user dreams that credit card offers in 2008 will become even more beneficial for them than they were last year. The competition on the credit card market is very high today, that's why cardholders are really used to getting nice rewards and perks. But the New Year didn't bring very good news for those, who owe rewards credit cards. Many major credit card companies changed the terms and conditions of their rewards credit card offers. But does this mean that rewards plastics will not bring any benefits to the credit card users?
One of the major credit card companies called American Express announced that the double rewards feature will be removed from its Membership Rewards Program in January. This option was pretty attractive for the credit card users as it used to let them double their points on every day purchases like drug store purchases, groceries and gasoline.
Recently another credit issuer - CitiBank has followed the example of AmEx and reduced the amount of cash back on its Citi Dividend Card. Previously this card offered 5% cash back on everyday purchases, now the amount of cash will be reduced to 2% next month!
Chase bank also made some changes in its rewards programs earlier this year.
But despite all these unpleasant changes, consumers should not be disappointed! Rewards credit cards can still provide you with savings and significant rewards!
Let's take a close look on Citi Dividend Card: despite all changes in its rewards program, the card can still help its owners to get some nice benefits. Citi Dividend Card will still continue to offer 2% cash back on everyday purchases in supermarkets, drug stores and gas stations. You will also be able to get cash back for balance transfers and cash advances.
But there is some good news for the owners of Citi Dividend Card: the Citi Dividend Merchant Network was developed and now you can enjoy getting unlimited cash back at more merchants including convenience stores and utilities companies. All the purchases made with your card at utilities, including cable operators and convenience stores will be eligible for cash back rewards too.
As you can see even though the rewards program was changed, credit card companies still try to make their credit card deals attractive for the credit card users. And it is pretty obvious: all credit card companies and banks do their best in order to keep their customers and attract the new ones!
It is difficult say whether the tendency of changing the rewards program will be followed by other credit card companies and banks, we will wait and see.
Credit card offers by American Express, CitiBank and Chase are still considered to be among the best ones on the credit card market. Saving and benefits are still great! All you have to do is to take into consideration all pros and cons and look for the best deal for yourself!
Remember that the New Year is the time when many things change: so make sure you read terms and conditions of the card before filling out the credit card application!
Alice Walters
05:38 AM, February 11, 2008
Hello! As for me i don't like the way of credit card changes.Last year i was completely satisfied with the rewards system of my credit card! I don't know how to cope with it!
ARTICLES about Credit Cards | >> View all Articles
American Express Travel
October 24, 2008
American Express continues to please its loyal customers with exclusive card offers for frequent travel rewards. Its latest product, co-branded with Delta Airlines, comes with a catchy "Delta Reserve Credit Card" name and aims at wealthy and creditworthy customers looking for incomparable travel experience. It cannot be referred to as a cheapest deal among the rewards type, but the price for the outstanding benefits and additional programs is more than acceptable.
The $450 annual fee and a competitive APR on purchases and balance transfers are charged for the exclusive access to the 24-hour Concierge Service, SkyMiles account rewards program and extended credit line. If you think you can find something better online, take a minute to read further and ascertain that American Express has not been overtopped.
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Pre Approved Credit
October 07, 2008
If you hold a valid FICO score with at least one national credit reporting agency, you are very likely to receive a pre approved bank card offer in the mail. But among the 3% of recipients completing and returning the application, only some 1.5% if not less actually get approved. Why is that and what are you required of to qualify for that enticing card offer sent by a major bank?
Most people think if they've been pre approved, there will be no hassle going through the formality of the application process. Now they don't have to spend hours searching and comparing products online to find the only right variant. Hardly anyone knows how the bank chooses a potential customer and what eligibility requirements it will use to finally approve or reject your application.
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Credit Cards at College
September 26, 2008
Though a standard unsecured student credit card is available to high schoolers nowadays, it is at college that young people make their first financial decision independently from parents. The first responsibility comes with the need to choose the right plastic from a great spectrum of equally attractive offers.
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