- Centurion Member
- Posts: 875
- Joined: Thu Apr 30, 2009 2:32 pm
- Location: Texas
Article in last weekend's WSJ on credit cards says banks are recruiting customers again, both those with good credit and those with poor credit.
The gist is that for those with poor credit, you might be able to get a card if you haven't been able to in the past. For those with good credit, you might be able to negotiate for better terms, perks, etc., according to sources quoted in the article.
The article also said that Amex and Citi will be dropping the fee for foreign transactions on some of their cards. It did not say which ones. I will be interested to see more about this.
One source in the article made the point that banks have been antagonizing some of their best customers with petty fees that don't generate much revenue, not nearly enough to offset the cost of customer acquisition, which is climbing.
This is good news for all of us if it actually is an accurate representation of the market today.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).
*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.