With the great new Credit Card ACT coming underway, you may be worried that the credit card rewards out there are going to disappear.  The question today is, “Are credit card rewards going to disappear?”  According to most experts, they say no, and I’ll give you some insight on why.

Credit card companies need to be competitive

Credit card companies started the reward system years ago in order to be competitive.  This is what got people to use their card.  Of course, a fair majority of the users out there didn’t pay the card off in full.  These users thought they were getting rewards, but they really weren’t, because of the interest rate.  In this market, the rewards may go down, but don’t count on them going away completely

You may start to see more fees

Instead of dropping the reward programs, you may see more companies adding fees, or dropping their rewards.  If this is the case with your card, I would recommend that you look for a new one, because there are a lot of cards out there.  If you find that there’s any type of fee added, this may offset your rewards.

According to Finance Markets, they noted that 78% of the credit cards today are still offering reward schemes.  In the past 12 months, credit cards offering rewards have fallen by 11%.  The number is fairly low, and let’s not  forget that the media always likes to present negativity.

In conclusion, credit card rewards aren’t going anywhere, and you’re afraid that your card is going to be tacked with unwanted fees, and more, you may just want to find a new one, because there are plenty out there!

Related posts:

1. Credit Card Purchases Earn Cash Back Rewards
2. Making Your Credit Card Rewarding
3. Maximizing your Cash Back Credit Card Rewards
4. Credit Card Reward Programs
5. Tips for Finding a Credit Card with Rewards