During the boom years of credit (all the way back in the 00’s), those who spent a lot on their credit cards and paid on time may almost have felt ignored. But today, credit card customers who pay their balances in full and spend big money to earn rewards and points are the customers of choice.
So now, credit card rewards programs from American Express Zync to the new Chase Sapphire are pumping up the perks and touting their cards’ flexibility to attract and keep loyal, spendworthy customers. Hefty additional fees, however, may apply.
The question is, will customers bite, especially if fees continue to rise as the issue of interchange rates continues to fester? According to Bloomberg, interchange rates may not be front and center after all this year in terms of legislation in the House, but a Business Week article states that Sen. Arlen Spector may introduce a bill in the Senate.
In the meantime, big spenders can enjoy their time in the sun when it comes to credit card reward programs and reap the benefits of paying in full, while credit card rewards programs work to determine the shape of their future.
