This article purports that credit card reward points have tripled since 2018. Pretty sure that the methodology misses the mark, if you compare current offers by top issuers such as Amex and Chase; But there are some good offers to be found.
- In 2008, the average credit card bonus offer was 16,050 points. Today, the average offer is 40,556 points.
- Every credit card company wanted to look more like American Express, which means they wanted people with excellent credit scores. The way to tempt people with excellent credit is with rewards and miles
From what we have seen, rewards peaked in 2017 and points are running significantly lower. For instance, Chase Sapphire Reserve, ran with 100,000 points in early 2017. As of today, the nation’s top issuer offers 50,000 points. Downtown from Chase’s NY office is American Express, which also was at 100,000 points and today is at 75,000.
The author gets this point right:
- The best deals are typically only offered to people with good or excellent credit. If your credit score is above 700, you will have a very good chance of being approved.
- In addition to credit score, credit card issuers will also review your employment status, income and total debt level.
Either way, enjoy rewards while you can. If credit card interchange falls under the regulatory scope as it did in Australia, Canada, and Europe, rewards as we know them today will not exist.
Overview by Brian Riley, Director, Credit Advisory Service at Mercator Advisory Group
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