Editorial Policy

The Future of Credit Card Rewards

default author image

By Steven Gibbs
August 17, 2009

Whether it is in the form of cash back, frequent flyer miles, gift cards, or anything else; many credit cardholders will tell you that rewards are a major reason why they choose the credit card that is in their pocketbook. Now it could seem that due to the CARD Act, rewards that cardholders receive for making purchase could soon be changing for the worse.


As expected by credit card experts, dramatic changes in not only the way you get rewarded but also they type of rewards you see are just on the horizon. From recent news and by word of mouth from cardholders, there are already credit card issuers drawing back on many reward programs. In some cases, not only have credit card issuers scaled back on rewards, but they are also adding fees for cardholders to stay or become a member in their reward program. So far credit card issuers such as American Express, Discover, and Citi Bank have changed their reward programs in some form or fashion.


The fact remains that there are still pretty good credit card reward programs for consumers to choose from, but will more often then not be based on your creditworthiness. It seems that the era of applying for multiple reward cards just to receive an initial reward for sign up and making one purchase has ended.