did anyone else get one of these letters? This was my very first credit card-i've had it for well over 10 years, and they've suddenly decided i will no longer get the 3% automatic gasoline rebate on my purchases...instead i get 1% cash back and can cash out at $25.00! what a crock! anyone know of a better deal? i'm about to tell chase where they can stick this one!
You may want to hold onto that card if it was your very first one. Age of accounts is a huge part of your credit score. Recently my first credit card from my college days changed their reward policies (not chase). I kept it strictly bc it is the longest account Ive had. I now charge a 9 dollar recurring charge their every month to keep it active, but they will no longer get any more of my business.
I am also understanding that more credit card company's may be doing this. I read some where that because the government has come down on credit cards ( they cannot raise your interest rate just because they want to) that they are no longer giving perks and they may start to charge a yearly fee. Don't know if they will all do this or not. Guess we will have to wait and see.
