As the new year progresses, get ready to see credit card rewards reduced (especially on brand new cards).
As the financial crisis continues, profits continue to erode, so credit card companies have to look wherever they can to cut costs. In this case, the costs are rewards. Yearly caps on reward earnings will return. They can also be forfeited if payments are continuosly late so make sure to pay on time.
Airlines are also having financial troubles and may increase the amount of rewards points needed to get an airline ticket. When they change the rules with the credit card companies, credit card companies will have no choice but to pass them down to the card holders (us).
Anyone who has saved up large amounts of points at this time ought to use them or maybe lose them. Think about trading points in for smaller reward items or even cash (to pay down the credit card balance). Avoid trying to amass large amounts over long periods of time.
Once the credit crisis has passed, and all the banks (who own the cards) are in better shape, they will again vie for your favor by increasing rewards.
Airlines, Credit, Card, Financial, Crisis, Reward, Points, Program, CitiBank, Chase, Amex, American, Express, Blue, Platinum
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