Credit card companies have been wooing potential cardholders recently with some incredibly compelling rewards cards. With credit standards easing ever-so slightly and the economy starting to pick up steam here in the US, competition is heating up in the credit card industry with major card issuers rolling out some of the most appealing rewards cards ever seen in the marketplace.
Unfortunately for some, many of these great new rewards offers are being reserved for those with the best credit scores.
Chase recently announced several new updates to its airline rewards card line, including their Southwest Airlines Rapid Rewards Premier Credit Card, which comes with 50,000 bonus points after your first transaction. The downside, however, is the $99 annual fee and a 14.24% ongoing APR.
Some other great card promotions this year included:
- British Airways Visa Signature Card offering 100,000 bonus miles within the first 3 months
- Capital One Venture Rewards Credit Card that matched up to 100,000 miles on any airline credit card when a cardholder spent $1,000 within the first three months
- Continental Airlines OnePass Plus Card and the United MileagePlus Explorer Card both offered up to 40,000 bonus miles
According to Mintel Compermedia, new rewards offers that were introduced offering points, miles or cash rebates were up 80 percent in 2011 compared to only 60 percent in 2008.