The Rising Cost of Travel Rewards

After tinkering with their credit card rewards programs for the past few years, banks are now placing renewed attention on travel cards.

In their latest promotions, banks are offering more introductory points or miles to consumers who sign up for the cards and spend a set amount in the first few weeks.

Next month, U.S. Bank will raise the initial bonus points on its FlexPerks Travel Rewards Visa Signature card, its second increase in the last year.

In November, J.P. Morgan Chase doubled the bonus miles on its British Airways Visa Signature card.

Other card issuers, including Citi and Bank of America, are also offering introductory rewards in exchange for swiping their credit cards.

For cardholders, there’s a catch: in many cases to get the rewards, they’ll need to spend more than in the past.

Story by AnnaMaria Andriotis for MarketWatch.

Similar Posts: