No thanks, stay here.  

  We notice you are visiting from a U.S. Internet provider. Switch to our U.S. website.

Industry News

'Retirement rewards' programs add to the ranks of unique credit card processing incentives

By Kristen Lawrence

20/01/2010 - The credit card processing industry has been slowly losing ground to the debit card industry, thanks to a recessionary focus on having more control over finances and avoiding debt. However, the credit card processing industry is not going down without a fight, and credit card companies are unveiling innovative new rewards programs to try to lure consumers back to credit card spending.

One new offering that has recently gained popularity actually aims to capitalize on the saving and financial conservatism trends that have dominated the past year - "retirement rewards."

The Wall Street Journal reported that some credit cards now allow consumers to redeem their points for cash deposited into individual retirement accounts or other investment accounts.

"These [cards] offer a way to make consistent contributions to a retirement account without having to think about it, which is always a good thing," Doug Miller, a senior analyst at financial services consulting firm Corporate Insight, told the Journal.

Some cards offering this service include the Fidelity Investments Retirement Rewards card through American Express and the Ameriprise Financial MasterCard, the Journal reported.

Other unique credit card rewards that have cropped up recently include an American Express program that allows cardholders to redeem their points for tax payments. ADNFCR-2514-ID-19568177-ADNFCR

Related News - Credit Card Processing

Thomson Reuters: Retail sales soared in January despite weaker consumer sentiment

02/02/2012

Retail sales appear to have climbed in January, as a survey of the top 20 retailers in the U.S. by Thomson Reuters shows sales climbed by a net 4.2 percent on the month.

Full Article

Equifax: Delinquency rates tumble across the board in December

31/01/2012

Delinquency rates on credit card dues, car loans, mortgages and other forms of credit plummeted in December, reflecting a general uptick in consumer sentiment.

Full Article

Credit card use climbed in December on strong holiday season

24/01/2012

Cash, debit and credit card processing continued to grow in December, both in terms of transactions and dollar volume, according to the most recent SpendTrend report from First Data Corporation.

Full Article

Despite smaller debt loads, consumers less financially secure than a year ago

24/01/2012

Consumers continue to pay off their debts, as financial security continues to improve amid otherwise hopeful outlooks for the U.S. economy in 2012.

Full Article