Just found out Discover card now only gives you one 1/4% cashback up to the first $3,000 each year. When did this start? Anyone have suggestions for another card with no annual fee and at least 1% cashback on all purchases with no limits?
It was 1-1/2 years ago that the 1% cashback was changed. It applies after a larger threshold is met.
Also, the cashback bonus credited to the account has to be in increments of $50, not the previous $20 increments. It takes longer to get the $50 credit towards the account. They want you to use gift cards instead.
Discover is accepted at fewer places too.
A MC I use just had it's cashback bonus changed. It was for cashback on car purchases. Now it's only for merchandise. I would think the auto companies stopped paying the rewards.
Another MC card was a Shell 5% cashback card 10 years ago and that was dropped in favor of a 1% for everything.
My ISU MC pays no rewards. The 1%, or whatever it is, goes to ISU instead. I don't know what ISU gets. It's not published.
My AMEX card rewards program just got more expensive per year. The annual fee is now $95 per year.
Do you think that the recent banking legislation in Congress had something to do with all of these changes? You bet it does.