cancel
Showing results for 
Search instead for 
Did you mean: 

Credit card perks going away?

Highlighted
New Contributor

Credit card perks going away?

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? 

AMEX Gold: NPSL | TD Cash: 10K | RBC Rewards: 25K | Citi Premier: 9.3K | Discover It: 3.4K | BCE: 0.5K | BHG World MC: 11K
Amazon Prime: 1.8K | Google: 1.5K
EX: 730 | EQ: 738 | TU: 741

Message 1 of 23
22 REPLIES 22
Highlighted
Senior Contributor

Re: Credit card perks going away?

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.   

Message 2 of 23
Highlighted
Established Contributor

Re: Credit card perks going away?

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

Personal Cards:


Business Cards:

Started my journey in the high 500's 10/1/2016
Current Fico: EQ:740 | TU:757 | EX:775
Message 3 of 23
Highlighted
Valued Contributor

Re: Credit card perks going away?

ouch, that vox article:

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

ᑭ⍶ndeᲠi८ no ѠαԼԼεէ
⛪⍟❡olδ ✈☕⸿ⵢᖇ ✈☕թroթⅇl ⍟८ſ ┊Ҩⵢ ┊Ԑժᑭ ☏८ſⴑ ⛽⍶⍶թƧ/βiz ⛽iէ ⍟Ⲙilⅇⴑթ ┊ↇᏨ☕▲B | ८✙ ⛪
⸨ꜷ ᐰmzn ᐰ√ ⌚wſ -√ ☏⸿i⸿ ┊⸿iⴑ ⚕ᙪᙪթ⸩ Ձ൦Ձ❶ ✢८αⵢℏẉisē, ᐰviα₶oⲅℝ

PⵢA: Stay 6ft (2m) away from others, wash your hand 10x a day, don't touch your face.
Message 4 of 23
Highlighted
Super Contributor

Re: Credit card perks going away?


@FortifiedHM wrote:

ouch, that vox article:

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


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.

 

 

Spend: BofA PR + WWFCR, BBP, Schwab Platinum, Freedom x 2, Costco, Discover
Perks: IHG49, Hyatt75, Delta Platinum, "Old" SPG95
SD/AAoA Ballast: Arrival, CFU, DC
Upgrade/downgrade games: BCP, EDP
Mostly earning MRs and cash back as I use up hotel and airline points spread across several programs.
Message 5 of 23
Highlighted
Super Contributor

Re: Credit card perks going away?

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.
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 6 of 23
Highlighted
Valued Contributor

Re: Credit card perks going away?

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.  aaa wink & grin.gif




Message 7 of 23
Highlighted
Super Contributor

Re: Credit card perks going away?


@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.  aaa wink & grin.gif


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. 

Message 8 of 23
Highlighted
Super Contributor

Re: Credit card perks going away?


@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.  aaa wink & grin.gif


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.

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 9 of 23
Highlighted
Super Contributor

Re: Credit card perks going away?


@NRB525 wrote:

@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.  aaa wink & grin.gif


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.


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

Message 10 of 23
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.