Premium Credit Card Rewards Become Increasingly Elusive
High-end credit cardholders are facing stricter rules that make it harder to maximize their rewards and perks. According to a report by the Wall Street Journal, premium card issuers like American Express and Capital One are closing loopholes that allowed cardholders to squeeze more out of their rewards.
The changes include minimum spending requirements for perks on orders from DoorDash and restrictions on using credit with Lululemon to purchase gift cards. Ravi Wadan, a 39-year-old Seattle content creator, noted that the landscape is constantly changing and that benefits are being added and taken away.
Annual fees for premium cards have led to an intensifying 'cat-and-mouse-game' between banks and cardholders. American Express has invested in making benefits easier to find, enroll in, and monitor, according to executive vice president Lisa Kalhans.