Increase in credit card offers and incentives
A lot of credit card customers are finding 4 or 5 credit card offers everyday in their mailbox. Some customers believe this could be because the economy is recovering. By the end of the year, as many as 2.25 billion customers would have been offered solicitations for credit cards. This number represents an increase from the previous year`s number by 62%. Marketing in many card companies has returned to the levels where it was before the crisis started. There was a lot of talk about high interest rates and very few incentives amidst the economic gloom in the early part of the year.
However, as the year has passed more and more credit card offers had started appearing in the mailboxes of credit card customers. Along with the new offers, credit card customers are also being offered a lot of new incentives. The most popular of these reward programs include cash back offers. It is expected that the cash back credit cards would be issued at the same levels as before the credit crisis. A good example is the Chase Freedom Visa, which offers cash back of 100 dollars if the cardholder spends 799 dollars on the purchases within the first 3 months of the opening of the credit card account. A 5% cash back is being offered by Discount for up to 300 dollars on purchases in specific categories. There are other reward cards too like the travel cards which are mostly offered to the customers with high credit scores.
Latest Credit Card Rewards News
The SoFi Credit Card was introduced in October 2020, and now it is open to anyone interested in applying. SoFi has used the time since the limited release to improve and refine their credit card based on feedback they received from first members. The SoFi Credit Card became available to the general public on March […]
American Express has rolled out a heap of new perks for the following group of its co-branded travel credit cards: Delta SkyMiles, Hilton Honors, and Marriott Bonvoy cards. The deals are available to owners of the participating Amex cards issued before Jan. 1, 2021. Depending on the card, eligible holders can receive from $5 to […]
This week, BlockFi, a crypto lending company, announced the upcoming release of its rather unusual credit card – the Bitcoin Rewards Credit Card. The card will become the first-ever credit card with cryptocurrency rewards. Until now, credit cards’ rewards programs could offer cashback, points, or miles. But earning credit card rewards in the form of […]
2020 can be safely called the weirdest year of the last decade. The pandemic has affected every corner of the world. And we can only guess what surprises await us in the last month of the year. However, something still remains the same (or almost the same) – Black Friday. It is not hard to […]
This week marked the launch of another credit card. This time we are talking about the new cash back credit card from Venmo, a mobile payment service owned by PayPal. The card got a very simple name – Venmo Credit Card. The company announced its plans to roll out its first credit card a year […]
