Consumer Payment Card News

Reward Cards

As low-ball interest rates lose their sizzle, rewards cards have been re-energized. Providian and American Express recently turned up the heat on competitors with new reward offerings. In September, American Express rolled out its new “Rewards Green,” “Rewards Gold,” “Preferred Rewards Green,” and “Preferred Rewards Gold” cards offering “Membership Rewards” as a core feature, including double points for “everyday purchases.” Starting November 1st, American Express extended the double “Membership Rewards” points for “everyday purchases” to other card programs including the “Rewards Plus Gold Card,” “Platinum Card,” and the very exclusive “Centurion Card.” “Everyday purchases” includes purchases at stand-alone supermarkets, gas stations, drugstores, home improvement stores, the U.S. Postal Service and wireless phone bills. All cardholders will continue to earn one point for all other purchases. Meanwhile, Providian is testing three new rewards. Providian’s new suite of cards includes “Providian Airpoints,” “Providian Smart Rewards,” and “Providian Real Cash Rewards.”

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