Sweet Rewards For Those With Good Credit

November 26, 2011
Seattle Times 
credit card news

Credit card issuers scaled back their rewards programs during the credit crunch and while they waited to see how much federal regulation would cut into their bottom line, card experts say. But now those concerns have been alleviated, and banks have been bringing back rewards to make their cards stand out. Two-thirds of credit card offers in September featured a reward or rebate, according to Synovate, which follows direct-mail solicitations. Though that is less than in June, rewards since that time have become more plush, said Synovate's Roy Persson. Issuers are expected to fatten up deals for the holidays to attract consumers just when they are likely to do some serious spending. Discover, for instance, is promoting a cash-back card with a $150 holiday bonus to consumers who spend $1,000 in the first 90 days. Rewards are not back for everyone, though. Card companies are being extremely selective and are in pursuit of the same customer: the one with prime credit. These days, that could mean someone with a credit score of 750 or higher out of a possible score of 850.
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