Washington and airlines may be about to clash over credit card points - ConsumerAffairs

If you have an airline frequent flier rewards card, you know they are worth less and less these days. You darn near have to spend a small fortune to fly anywhere -- like $30,000 to $40,000 to get ... Read More

Some credit card companies may be devaluing rewards illegally, CFPB says - NPR

The Consumer Financial Protection Bureau said some credit card companies may be devaluing points and airline miles illegally. NPR's Sarah McCammon talks to Nick Ewen of The Points Guy. Read More

Consumers might be paying more than credit card perks are worth, officials say - NBC News

The Electronic Payments Coalition, representing credit unions, community banks and payment card networks, points to CFPB data showing the value of rewards points has risen from an average 1.4 ... Read More

Have airlines become mere credit card companies?

On the business side, despite JetBlue controlling only 5.5% of the U.S. airline market share and Spirit Airlines another 4.9%, a federal judge has blocked a proposed merger between the two. Read More

Consumer watchdog takes aim at credit card rewards programs

Some credit card companies may be breaking the law by illegally devaluing accrued points, airline miles and other rewards used to entice cardholders, the Consumer Financial Protection Bureau said ... Read More

Credit card rewards face ‘shrinkflation'—but there are still ‘plenty of sweet spots,' says points expert - NBC4 Washington

Amid rising prices, consumer advocates have sounded the alarm on so-called shrinkflation — the phenomenon in which retailers reduce the size of their products, but sell them for the same price ... Read More

Regulators take aim at airline credit-card reward programs

The Consumer Financial Protection Bureau received over 1,200 complaints involving credit-card rewards in 2023, a 70% increase over pre-pandemic levels. Read More

Consumer frustration grows with credit card rewards, U.S. agencies may intervene - KOMO

In May, the CFPB and the U.S. Department of Transportation held a joint hearing on airline and credit card rewards programs. Speakers included airline and bank executives and consumer advocates. Read More

Biden's clash with banks over credit card fees sparks lobbying blitz - POLITICO

Washington’s attempt to reshape the credit card industry is the latest clash between the Biden administration’s top regulators, Congress and the financial industry over the lucrative fees. Read More

Your Miles Could Disappear: Airlines Warn of Credit Card Bill Fallout - MSN

Some of the industry’s largest airlines have joined forces to oppose legislation that aims to reduce fees charged by Visa and Mastercard on credit card transactions. Put forth by Senators Dick ... Read More

US regulators are looking at potential ‘bait and switch’ schemes with airline-affiliated credit card reward points - CNN

If you use a points-and-rewards credit card offered by an airline in partnership with a big bank, how much are the points you’ve accrued worth in dollars? Read More

US Airlines Oppose Credit Card Fee Crackdown They Say Could Imperil Free Flight Offers - U.S. News

The letter said over 31 million Americans hold airline travel reward cards and 57% of all frequent flier miles and points issued in 2023 were generated by airline credit card use. Read More