Credit Card News
I feel it’s beneficial to periodically step back and reassess my strategies based on credit card news. Such developments are only part of the process; my travel goals always take priority. But I know I can maximize success even further by adapting to what card issuers throw at me, good and bad. In that spirit, I’m sharing how I feel about the major card issuers today and some of the changes I’ve made based on their moves.
American Express
Amex’s Marriott products have taken up some of my headspace since last fall. And that’s fine with me, based on the excellent welcome offers they’ve been offering. It started with the outstanding Marriott Bonvoy Business Amex and continued with the Brilliant card to take advantage of upcoming changes. The recently discussed mid-range Marriott card with Amex is next on my radar. I must admit my hopes are high for this one. The wife and I are each setting up our Amex portfolios to have a credit card slot open when it launches, supposedly later in September. Hopefully, it’s worth applying for.
Beyond that, we’ve cooled the jets a bit with Amex the past few months, sometimes forcibly. My wife got the worst pop-up when she tried to apply for the Hilton Amex Aspire. Picking up that card isn’t an emergency, so we’ll wait and spend that pop-up out, hopefully.
Chase
I recently completed meeting the $20k big spend offer on the IHG Premier card. Fortunately, I did so prior to the announced elite devaluation going into effect. This has more to do with IHG than Chase, but it appears I need to keep this card at arm’s distance for the foreseeable future.
Beyond the IHG Premier, I’m interested to see what Chase does with Pay Yourself Back. Will it continue? My gut says yes. Will we ever get past this few-months-at-a-time extension nonsense? My gut says no. Am I growing tired of Chase leaving us all hanging here? Most definitely, yes.
Citi
Citi has touted an elevated welcome offer on the Premier for a good while, and an infrequent Double Cash welcome offer returned. Beyond that, I’ve noticed Citi has been unremarkably quiet. That’s not necessarily a bad thing. In my view, the Premier’s 3x earning in staple categories of groceries, gas, and dining are the best of any card in the $95 annual fee range. And, in my view, Citi offers the single best travel partner transfer ratio currently – one ThankYou point to two Choice Privileges points.
Capital One
Not too long ago, I couldn’t care less about Capital One. That’s quickly changed. I’m enjoying uncapped 2% cash back with no preset spending limit on the Spark Cash Plus. The Spark Travel Elite is making Capital One even better – a huge welcome offer that can earn a cardholder 350k points if they can spend $50k. I feel that those who can spend at scale should take a closer look at Capital One more than any other bank right now.
Barclays
The transition of the Banana Republic cards from Synchrony to Barclays is complete. I was pleasantly surprised to see that the program is largely unscathed. Spend offers, probably the biggest highlight of the previous Synchrony version of the card, have continued with Barclays. And those who currently don’t hold a Gap family card have a huge reason to consider one – earning 5x points on all spend through early 2023.
Bank of America
I’m hot and cold with Bank of America. I’m enjoying spending on their cards, particularly my Amtrak Platinum no-fee card. Sadly, it seems like the Amtrak cards will be heading to another bank – Bank of America is no longer offering them for new applicants.
Knock on wood, the wife and I each continue to receive card approvals when we thread the needle on their card application rules. Unfortunately, Bank of America doesn’t have many card products left that we actually want. I’d like to see something new from them.
Looking elsewhere, BoA froze me out for a few weeks not too long ago. I’m wondering if or when this will happen again. I guess they’re cool with me until they aren’t.
Conclusion
I’m always up for more credit card news to see where banks push the envelope next. For right now, the new mid-range Marriott card from Amex is where I’m primarily focused, plus the new and rumored changes to the Brilliant. But I shouldn’t weigh too much on those items, though – I know I’d be setting myself up for disappointment. If no other card issuer grabs my attention, I’ll probably dive even more into the Capital One program. The fact I’m even saying this exhibits the greatness of our hobby. I never expected to feel this way about Capital One. And so I look forward to other surprises coming around the corner. What’s been the most noteworthy credit card news recently, in your opinion?
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