With so much attention being paid to debt management these days, you may have missed a connected consequence: card issuers are becoming more stingy with their rewards programs.
Millions of Americans are more cautious now in the way they use their credit cards than in decades past. In addition, with so many other convenient methods of payment, the need of a credit card is not as great as before, either. Consequently, there are fewer people applying for multiple cards, causing issuers to make the qualifications for rewards more strict, or to simply eliminate some rewards altogether.
Whether one uses credit card rewards to great effect or barely knows of their existence, it strikes me as appalling that these high-revenue banking companies feel the need to remove benefits that have been paid for many times over without any consideration of lowering interest rates to compensate users for the loss! Then again, maybe they are preparing for lean times: the millennial generation uses far less credit than the previous generation. That kind of trend doesn’t bode well in the long run.
We believe that proper utilization of credit will create much better and much more long-lasting rewards than any card issuer can ever offer. And we stand ready to help you achieve that level of financial wizardry.