Could those travel points you're saving on your credit card be going away?
Big banks are looking for ways to rescind some of those credit card rewards. The Wall Street Journal reports that financial institutions like Chase, Citigroup and American Express are altering their rewards programs because consumers are becoming more savvy on the use of those cards and merchants are pushing back on what they perceive to be excessive merchant charges.
Those merchant and transaction fees are what fuel the rewards benefits but the cost of providing those programs has grown 15 percent and banks are looking for ways to alter the programs without angering their credit card holders.