Several of the new credit card products being issued in 2012 are confirming what Chase’s David Gold told us several weeks ago: cash-back rewards programs are heating up, and attracting many competitors.
The newest addition to the space is a card from U.S. Bank “” the Cash+ Visa Signature Card. The giveback percentages are similar to other cards on the market, but what’s different is that the Cash+ card lets consumers decide how to earn those rewards. Consumers choose two categories for five percent back, one for two percent back, and earn one percent back on all other purchases.
U.S. Bank Senior Vice President Lynn Heitman says the firm’s consumer research has overwhelmingly shown that consumers want more choice when it comes to rewards programs, and that the Cash+ card is part of a larger strategy to give consumers the tools they need to save more.
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