Customers pile in, analysts fret as U.S. banks offer rich card awards



Morrie Low, a 27-year-old Seattle cocktail server, has found an unlikely new source of pleasure: credit card companies.
After working off card balances he built up during college, Low started collecting new cards in May specifically to reap the increasingly lucrative travel awards banks are offering to encourage spending on their cards.
In August, Low snagged a new Sapphire Reserve card, from JPMorgan Chase & Co, which has become a magnet for millennials willing to pay the $450 annual fee for a sign-up bonus worth as much as $1,500 (1,205 pounds) in travel, plus $300 in annual spending... read more

 
17 October 2016 in Business, Views: 51
Source: Reuters
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