Credit Card Rewards Programs Targeting Affluent Exclusively

If you have a good credit rating and a “sufficient” income, credit card companies are actively looking to lure you in with amazing rewards. Currently, companies like Citi and Capital One are offering initial bonus points of up to 80,000 which translate into about $1000. Although the offers are outstanding, they due come with a catch or two, such as annual fees and minimum spending requirements.

These types of rewards would make any card holder excited, but are offered to a select few. One basic requirement is a credit score of at least 720. Also, these offers only work if the consumer pays off the debt each month.

Banks are currently looking at new ways to attract wealthy customers because of the newer credit card regulations. These regulations have made it more difficult for credit card companies to make money from fees and penalties. However, they can still make a large amount from interchange fees which occur every time a consumer swipes their card.

Source: http://www.huffingtonpost.com/2012/03/26/credit-card-rewards-miles_n_1379862.html

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