In yesterday’s post about credit card reward program changes I mentioned how my Chase Freedom card reward program has changed from triple rewards in the three everyday categories where I spend the most to a less appealing award where Chase picks the category and gives you triple rewards if you sign up for them AND spend more than $750 (at least that’s  what I saw today when I paid my bill).

Some readers responded that their reward program has not changed. So I went to Chase and here’s what I learned from spokeswoman Tanya Madison:

Because of the volume of Chase Freedom customers, we have staggered implementation of the changes that you reference. Most customers will have received notification of the changes and will have had their Chase Freedom credit cards updated with the changes by the end of the year.

 So there you have it!

Any time you learn of changes to your credit card terms, be sure to let me know.

I’ve heard that the Best Buy Reward Zone Program MasterCard has one of the best loyalty programs in the business. But maybe not for long, according to a post from Consumerist about the store’s shrinking rewards program.

I’ve contacted Best Buy for a comparison of the new and old terms and did not receive a response.

Best Buy certainly isn’t the first and I bet it won’t be the last credit card company to pare back rewards this year.

So which cards are still the best rewards cards out there?

(more…)

That’s the message of these new Federal Trade Commission videos promoting www.annualcreditreport.com.

American Express is offering $300 to some cardholders if they pay off their entire balance by April 30th. The account is then automatically closed.

You need to be sent an RSVP code by mail to qualify. shed one of them. Please, please, please send me the code.

As a customer with two American Express cards, I’m tempted to call them up and volunteer to ditch one of them.

Check out the details.

Two considerations.  First, you could lose your reward points for signing up. Secondly, the move could hurt your credit score.

But you’d have less debt and $300 to boot!

Finally, us consumers are getting some compensation for banks’ sudden aversion to risk.  I hope others follow suit.

This just in:

“US households received 3.8 billion offers for new cards during 2008 according to Mail Monitor, the credit card direct mail tracking service from global market research company Synovate. This represents a 27% decrease, or 1.4 billion fewer offers mailed in 2008, from the 5.2 billion offers consumers received in 2007.”

Guess that’s good news as far as the recycling bin’s concerned. Bad news for Minneapolis-based Fair Isaac, the credit scoring company that counts on banks ordering “pre-scores” to determine who to send these offers to for some of its revenue.

My household is still receiving the occasional offer, but none that’s made me grab a pen. For example, Mr. Kablog has received more than one offer for an AmExp card that wants him to pay a big fee every year for the privilege or being a gold card member or black card member, or platinum. I can’t remember the exact color, but I do remember my reaction:

Ha ha! The perks were so mismatched to this growing family’s lifestyle it was funny.

How about you? Been receiving a lot of credit card offers or have they pretty much dried up?