Credit card perks going away?

[Anonymous]

I read a couple of articles in the today (one appeared on the WSJ), saying banks are about the cut out some of the credit card perks and bonuses this year. Has anyone seen these articles? Any thoughts?

Should folks jump on the current bonuses before they are reduced? 

[pipeguy]

You might take a peek in the "Credit In The News Section" -there are several articles/discussions posted there having to do with card benefit cutbacks and tightening lending standards.   

[sdsoccerdad]

I haven't seen anything about that but if it were true and affected the cards I have, I would cancel a bunch.  Lol.

[Anonymous]

ouch, that vox article:

"Chase is considering not allowing cardholders to pool points accrued across multiple credit cards. "

[wasCB14]

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@Anonymous wrote:

ouch, that vox article:

"Chase is considering not allowing cardholders to pool points accrued across multiple credit cards. "

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Chase brought up that possibility when surveying some customers in April. Nothing new, and they've not made any change yet.

In the same paragraph, the author says Chase and Citi stopped offering price protection (Chase eliminated it, but Citi only nerfed it a bit).

I wouldn't put too much faith in anything the writer has to say.

[NRB525]

Yes, when the transfer UR is ended, that changes up the Chase trifecta. That’s why I transfer any Freedom / Freedom Unlimited to CSP on a regular basis. It will make my reliance on Hyatt easier to justify, simplifying number of accounts.

[Pikaboo-icu]

Wellllll

I'd say the smartest lender will be the one that keeps ALL their perks and scoops up all the peeps that jump ship from the companies that nerf their cards.  

[Anonymous]

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@Pikaboo-icu wrote:

Wellllll

I'd say the smartest lender will be the one that keeps ALL their perks and scoops up all the peeps that jump ship from the companies that nerf their cards.  

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This. 

The banks opened Pandora’s Box when they started offering rewards perks. If they take them away, you can bet the credit unions will love to pick up the slack. 

[NRB525]

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@Pikaboo-icu wrote:

Wellllll

I'd say the smartest lender will be the one that keeps ALL their perks and scoops up all the peeps that jump ship from the companies that nerf their cards.  

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My bet is that bank is AMEX.

Their new business model includes reducing merchant fees, expanding opportunities to carry a balance (Plan It) and scoring travel-related partners to improve swipe volume ( Corporate cards, Hilton, Marriott/SPG and others ). Get a few big spenders in the fold, and those customers are a good return on advertising / customer service investment.

[Anonymous]

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@NRB525 wrote:

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@Pikaboo-icu wrote:

Wellllll

I'd say the smartest lender will be the one that keeps ALL their perks and scoops up all the peeps that jump ship from the companies that nerf their cards.  

---

My bet is that bank is AMEX.

Their new business model includes reducing merchant fees, expanding opportunities to carry a balance (Plan It) and scoring travel-related partners to improve swipe volume ( Corporate cards, Hilton, Marriott/SPG and others ). Get a few big spenders in the fold, and those customers are a good return on advertising / customer service investment.

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Except reducing merchant fees means less money to pay for those programs so something has to give. Either higher AFs, lower SUBs, or both.