High-End Credit Cardholders Find It’s Harder to Get Their Money’s Worth
Rising annual fees have intensified the cat-and-mouse game over rewards between card companies and customers.
Premium credit cardholders are finding it increasingly difficult to fully utilize the perks and benefits of their high-end cards. The tightening of rules around rewards and guest access in airport lounges, as well as the introduction of minimum spending requirements, are making it harder to get the most out of these cards. For example, American Express Platinum cardholders are no longer allowed to use their quarterly $75 Lululemon credit on gift cards, and Capital One has stopped allowing free guests in lounges for its Venture X cardholders unless they spend at least $75,000 a year.
Card issuers are cracking down on loopholes that allow customers to game the system, such as using airline credits for flights or depositing credits into airline programs. Despite these changes, premium cardholders still find value in these cards, but it requires more time and effort to navigate the complex rules and benefits.
Written by urgent.news from Hindustan Times - World News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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