Tuesday, June 16, 2009

Reward Credit Cards Redux

Just a few days ago, we posted a piece about a survey from MilesLink that said most credit card users (in their poll) strongly preferred frequent flyer miles as rewards. We tended to disagree, noting that we felt miles seldom offer the most value. A recent article by finance columnist Liz Weston quotes a J.D. Power survey about which cards and card companies users were “happiest” with. American Express was at the top of the list and HSBC at the bottom, echoing our sentiments.

Similarly, the card users in the survey strongly favored hotel rewards as the best, followed by cash back – again, our feelings and recommendations exactly. (One small but shocking tidbit in the article noted that J.D. Power said that, on average, 10% of consumers reported having problems with their account in the previous year.)

Travel rewards, annual fees, award reductions, changes in terms are rampant in today’s credit-card environment. We’ll continue to follow and comment on the latest news, especially as it relates to travel and rewards cards