Credit Cards
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Chase Reports a Drop of 40% in Credit Card Spend in May & April
Chase released some incredible numbers today regarding spending from its cardholders. Spending on Chase credit cards dropped 40% during March and early April compared to last year, as Americans stayed home to protect against the novel coronavirus.
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American Express Charges $25 for Reinstating Closed Cards
American Express is telling customers that there is a $25 fee to reinstate a closed credit card. Additionally, a decision to reopen the card would be subject to approval and it would take up to 10 business days.
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Amex Platinum Card, New Streaming and Wireless Credits Explained
You get $20 for each category monthly, until the end of the year. So that is a total of $640 in credits if maximized. Now let’s look at the details of each category, and what purchases qualify for these credits.
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Citi Extends Spending Period for Credit Card Bonuses
New cardmembers who open a new account between December 1, 2019 and May 31, 2020, will receive an additional three months to complete spending for a welcome bonus.
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Capital One Rewards Can Now Be Redeemed for Gift Cards Again
As of April 29 we are able to once again offer the benefit of redeeming rewards for gift cards. Customers can use their rewards to redeem for gift cards from a variety of merchants through this option including Amazon, Walmart, Lowes and more.
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Amex to Discount Some Credit Card Annual Fees Due to COVID-19?
American Express said recently that they are working on providing new perks and benefits in May. This might come in the form of offers, credits and extra rewards. But one of those credits might be for annual fees on American Express credit cards.
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Amex Charles Schwab Platinum Cardholders Having Issues Cashing Out MR Points
Some people are having issues cashing out their points. After a points transfer is initiated, the points transfer and are deducted from the Membership rewards balance, and then refunded.
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Amex Shutting Down Accounts After Airline Incidental Clawbacks?
American Express has been shutting down accounts left and right lately. But these latest reports, if true, are ill-timed and more bizarre than usual. There are two reports of shutdowns related to airline incidental fees. More precisely, airline incidental fee clawbacks.
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Amex Refreshing Cards in May, Adding Benefits & Improving Platinum Card Perks
In a first-quarter earnings call on April 24th, it was revealed that we might see improvements for the Platinum card and some of the other American Express products.
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Credit Cards Issuers Are Lowering Credit Limits During Pandemic
Some issuers are lowering credit limits for new or existing customers during the coronavirus outbreak. This comes as millions of Americans are now jobless, or have lost significant income, and are struggling to keep up with payments.
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Amex Quadruples Membership Rewards Earning for Canadian Platinum Cardholders
Besides being able to redeem points for cash for double the value, Amex is also awarding double points for purchases. The Platinum Card in Canada normally earns 3x on dining, 2x on travel and 1x on everything else. With double rewards, it now means 6x on dining, 4x on travel and 2x for everything else.
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Amex Adds New Limit of 10 Charge Cards
Until now you would be able to apply for a charge card even if you already had five credit cards and there was really no limit on how many American Express charge cards you could have.
