Comments on: Some Credit Card Rewards are Shrinking…

By: New Edge Credit

New Edge Credit — Thu, 23 Apr 2009 18:10:40 +0000

Not only rwards are shrinking but credit limits are being lowered. I have great credit and my credit limit has been lowered on 3 popular credit cards I carry. I also run a financial website and I am even seeing consumers with good credit being turned down for new cards, this is definately tough times for the credit industry.

By: Mar

Mar — Mon, 09 Mar 2009 04:17:51 +0000

I received the letter form Citibank telling me about the card changes. I cashed out most of the points the next day for a $25 Walmart gift card. Presuming there aren’t any problems, I’ll be cashing out the remaining points and the ones I earn this month for a Starbucks card for my daughter. After that, the Citibank card is going in a drawer and we’re going to a cash only basis for good.

By: MrPlasectomy

MrPlasectomy — Sun, 08 Mar 2009 13:04:45 +0000

They cut limits, cut rewards, raise rates, double monthly minimum amounts and expect people to continue to use their cards?

By: The Weakonomist

The Weakonomist — Sat, 07 Mar 2009 18:18:48 +0000

I hope chase is listening. You cut my cashback I cut your card. There are still companies out there offering good deals that would be happy to pick up my business.

By: Nate @ Debt-free Scholar

Nate @ Debt-free Scholar — Sat, 07 Mar 2009 14:18:05 +0000

I read about another guy yesterday who got more rewards from his credit card company. They raised his spending limit. Wasn’t that nice of them. They gave him an opportunity get more in debt to them. Ha, Ha!

Thanks,
Nate

By: HS@ Our Debt Blog

HS@ Our Debt Blog — Sat, 07 Mar 2009 08:07:04 +0000

Discover has also made changes to their rewards program, from now on you have to wait until you reach $50 to cash out instead of $20, otherwise the only choice is gift cards.