Rewards in 2009 on Credit Cards

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fffresh
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Rewards in 2009 on Credit Cards

Postby fffresh » Tue Dec 30, 2008 3:52 pm

This next year I predict rewards on credit cards will change.

Creditors will either start slashing rewards as a budget saving move, or increase rewards in an attempt to recruit new cardmembers, since the new rules set forth by the Federal Reserve will largely prevent using false teaser interest rates, and those often draw in new customers for many cards.

In 2008 rewards largely remained the same. The one exception was during the gas price peak in the summer, American Express scaled back their 5% cashback on gas credit cards to 3%, however this was only on their business cards.


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Mogul of Pineapples
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Postby Mogul of Pineapples » Sat Jan 03, 2009 12:06 am

Here's what I think:

Rewards and perks on sub-prime to average credit cards will be trimmed. But the rewards on the above average and high end credit cards will be strengthened. They'll do this because now the customers with strong credit are more valuable than ever and they won't want to lose them.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

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Cucumber
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Postby Cucumber » Tue Jan 06, 2009 1:55 am

I :love: my rewards!!!!

Hey if they cut my cashback I'll cut my credit card spending. Now is more important time than ever to give us rewards if they want everyone to use credit cards at the same level.
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sputNick
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Postby sputNick » Mon Jan 12, 2009 6:17 pm

Who is really getting the crap end of the stick are those with airline reward credit cards. It use to be like 25 thou miles would get you a roundtrip ticket and now it takes more like twice that. You have to spend more to get the same rewards you use to get. that's messed up.

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Cucumber
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Postby Cucumber » Wed Jan 14, 2009 6:32 pm

sputNick wrote:Who is really getting the crap end of the stick are those with airline reward credit cards. It use to be like 25 thou miles would get you a roundtrip ticket and now it takes more like twice that. You have to spend more to get the same rewards you use to get. that's messed up.


That's why you shouldn't use airline credit cards silly :ppp
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Postby Multi-Purpose » Fri Jan 16, 2009 3:42 am

Some airline reward credit cards are still worthwhile. The Southwest and JetBlue cards are worth it if you fly on those airlines 10x or more a year. If you only fly a couple times a year they may not be worth it. The airline cards that aren't worth it though are those ones that aren't associate with any particular airline and give you a generic 1 mile for every 1 dollar. Those ones tend to not give as good of rewards of the ones you see with airline partner credit cards.

By the way one of us has to change our signature we can't both have Obama signatures!
[font=Comic Sans MS]Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for. We are the change that we seek.
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Kino
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Postby Kino » Fri Jan 16, 2009 3:22 pm

have there been any NEW major credit cards that came out in the last 6 months? i don't think there has been. all the creditors are on lockdown mode lately.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Sat Jan 17, 2009 4:58 pm

None of the major banks have really issued any new credit cards. There are a few specialty cards (retail or airline associated) that were launched because they were in the works long before the credit crunch, but for now I wouldn't predict we see the launch any completely new credit cards for at least the next few months.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

Survivor Man
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Postby Survivor Man » Mon Jan 19, 2009 12:03 am

Do any of the prepaid credit cards or secured credit cards offer rewards or cashback?

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Postby Multi-Purpose » Mon Jan 19, 2009 5:09 pm

Why would they bother coming out with new cards when they have to be busy focusing on basics like funding in order for them to keep issuing credit.
[font=Comic Sans MS]Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for. We are the change that we seek.

-Barack Obama[/font]



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