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Credit Card Bonuses and Rewards after the CARD Act

Ken Tumin
Ken Tumin   |     |   5,691 posts since 2009

Before the CARD Act was passed, there were worries that credit card rewards and signup bonuses would go way down. According to this post at Ask Mr Credit Card, offerings have actually improved for those who have good credit and pay their balances off in full every month. Banks are putting more emphasis on extracting those low-risk individuals while making it harder on those with bad credit.




Anonymous
Anonymous   |     |   2,264 posts since 2010
I wouldn't take select annecdotal evidence as proof that the offers are better overall. I also note the cited better offers are all in reward points, which the article said cost less to the issuers because they bought them on cheap. Did *cash* signup bonus improve? Did reward earning improve? I haven't seen it.
Anonymous
Anonymous   |     |   2,264 posts since 2010
TFB,

 

I would agree that the CashBack cards haven't improved as much. discovers open road with 5% gas cash back has dropped to 2%.  Schwab's 2% cash back Visa is no longer offered. right now there's the Fidelity 2% Amex and the Platinum card from PenFed.  Yet Chase has released a card that is like the Discover More card with rotating categories for 5%.