There is always so much emphasis placed on the fees associated with credit cards, you never really get to hear about the perks of opening up a credit card. Who doesn’t get at least a dozen pre-approved credit cards in the mail each week? Before you rip them in half and toss them in the trash, take a second to think about the benefits of a credit card. A credit card is the first thing to get pulled on an impulse buy and the last bill to get paid at the end of the month, but if you had a few incentives to use it more often and pay it off on time, who are you really hurting?1. Foreign transaction fees race to the bottom
For years, smart travelers sought out Capital One credit cards to avoid costly foreign transaction fees. In 2011, a handful of banks realized that eliminating those surcharges from their elite travel rewards cards added value for business travelers and affluent vacationers.
2. Priceless moments form MasterCard.
After years of allowing issuing banks to define their own cardholder loyalty programs, payment platform providers launched major initiatives to differentiate their brands through special experiences. MasterCard Moments launched with extra special privileges for World MasterCard customers, including access to private culinary journeys and adventure tours.
3. Old-Style Customer service.
Discover Card started the banking industry equivalent of a snowball fight last winter, with a series of ads depicting the antics of the inept customer service call center at “USA Prime Credit.” Chase responded with a series of ads touting live service professionals for its Sapphire credit cards. After years of outsourcing and automating back office functions, some banks have returned to high-tech customer service as a means to attract more discriminating cardholders.
