This Week in Credit Card News: February 18-25
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New Spirit Airlines credit card; Changing reward redemption offers; Fresh Amex Offers; Amazon discounts; Higher credit limits with Capital One; HSBC makes U.S. exit.
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New Spirit Airlines Credit Card: Free Spirit® Travel More World Elite Mastercard®
- Bank of America launched a new credit card cobranded with Spirit Airlines: Free Spirit® Travel More World Elite Mastercard®.
- The Free Spirit card offers 3X points per dollar at Spirit Airlines, Zone 2 shortcut boarding, and a 25% inflight discount.
American Express Launches New Digital Receipts Feature
- American Express’ Digital Receipts feature gives cardholders more information about previous purchases with certain merchants, such as the merchant name, logo, and description, date of order, items purchased, and cost.
- This information can be found in online accounts and on the Amex app.
- Source: American Express
Credit Card Issuers Change Perks and Reward Redemption Offers in Response to COVID
- With travel delayed, some card issuers are extending the deadlines for travel perks and offers, like annual free night stays and companion fares.
- Rewards that previously had to be redeemed for travel-related expenses can, in some cases, be redeemed for statement credits or merchandise, or through services like PayPal.
- Source: Competiscan
Valuable Amex Offers: Dell and Showtime
- Some American Express cardholders may be targeted for valuable Amex Offers for:
- Dell: $100 credit for spending $500
- Showtime: $5 statement credit for spending $10, up to three times
- Check the Amex Offers section of your online account or Amex app to see if you’re targeted.
- Terms and limitations apply; offers are limited; enrollment is required.
Get a 20%–50% Discount at Amazon By Using 1 Amex Membership Rewards Point
- Amazon and American Express are offering a discount at Amazon when you use at least 1 Amex Membership Rewards point to pay for your purchase.
- This is a limited-time offer; as of February 25, it’s set to expire on 3/31/21 or when a certain number/amount of offers are claimed.
- Source: Doctor of Credit
Pay With a Discover Card to Get $10 Off an Amazon Purchase
- Discover cardholders can get a $10 discount on a qualifying purchase of $50 or more by adding their Discover card to their Amazon account, and paying with that card (multiple items can be included in the purchase).
- This offer is available for a limited time; terms and conditions apply.
- Source: Amazon
Chase Sapphire Cardholders Can Earn 10X Points Through Chase Dining/Tock
- Chase Sapphire cardholders (including the Chase Sapphire Preferred® Card (Review) and Chase Sapphire Reserve® (Review)) can earn 10X points per dollar for purchases through Chase Dining, which is powered by Tock, a reservation platform.
- Chase Dining includes takeout, delivery, and dining reservations at restaurants, along with chef demos and package deals.
- This offer ends on 6/30/21; the 10X point rate is limited to up to $500 in spending.
- Source: Insider
Chase Expands Definition of “Cash-Like Transactions” to Cover More Types of Purchases
- Chase is expanding the types of transactions that will count as cash advances, instead of regular purchases. Cash advances with credit cards are expensive — they usually come with higher interest rates and fees, and immediately begin to accrue interest.
- Under the expanded definition, funding bank accounts, peer-to-peer money transfers, buying cryptocurrency, betting (including lotto ticket purchases), payments with third-party services, and certain bill payments will all be considered cash advances.
- The effective date for this change will likely be mid-April.
- Source: Doctor of Credit
American Express Opens a New Denver Centurion Lounge
- American Express has opened a new Centurion Lounge in the Denver International Airport, in Concourse C past Gate C46 on the mezzanine level.
- The lounge is open from 7 a.m. to 3 p.m., and features a pool table and craft beer bar, among other amenities.
- All Centurion Lounges have now reopened after temporarily closing for the COVID-19 pandemic, except for the lounge at LGA.
- Source: The Centurion Lounge
Capital One Raises Credit Limits for Some Cardholders
- Current holders of Capital One credit cards may find themselves with higher credit limits as Capital One seeks to encourage spending with its cards, lifting previous limits.
- Credit limit increases are being offered to cardholders at both the prime (good credit) and sub-prime (less-than-good credit) levels, so now is probably a good time to request a credit limit increase.
- New cardholders are still being given relatively small credit limits.
- Source: PaymentsSource
HSBC Leaving the U.S. Retail Market
- HSBC will be closing its remaining 150 retail locations in the U.S. after struggling to compete against rival banks.
- Several senior executives at the company were given new positions.
- Source: Reuters
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