Consumer Payment Card News

King Cash

With most banks paying less than 1% annually on a savings account, the prospects of earning 1% or more in cash from your credit card purchases looks pretty good. Cash back is returning as one of the most popular credit card features as Household, Capital One, and American Express have recently launched new cards or beefed-up existing ones with cash-back. American Express says its cash-back credit card launched last year was so successful that it launched the “Blue Cash” last month and the “Business Cash Rebate Credit Card” this month. The new “GM Extended Family MasterCard” from Household, launched this week, permits cardholders to convert card earnings on purchases into cash, instead of using the earnings towards the purchase of a new GM car or truck. Capital One this month revamped its “MilesOne Rewards” card to offer a cash-back feature. In addition to earning miles for airline travel, Cap One cardholders now have a choice of redeeming miles for one percent cash-back, or gift certificates at select merchants, or donations to a charitable organization. Other top issuers currently offer cash-back cards including the “Citi Dividend Platinum Select MasterCard,” “Bank One Cash$in VISA Platinum Card,” “Chase i-card MasterCard,” “Chase Stockback MasterCard,” and the “Fleet Cash Dividend Titanium VISA.” Of course, the pioneer of all cash-back cards, Discover, offers an entire suite of credit cards built around the cash-back feature.

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