Move over points and miles rewards. Cash-back deals are increasingly being used as sign-up incentives according to results of a study from January to April 2011 conducted by Mintel Comperemedia, credit card tracking company.
Fox Business poses the possibility that some of these cash back rewards may be too generous posing a challenge for credit card issuers. “It is getting to the point where, in some cases, the incentive is so attractive that consumers may as well apply for a card to cash-in on its incentive regardless of whether they have any serious intent to use the card in the long term,” say Andrew Davidson, a senior vice president of Mintel Comperemedia. Nonetheless, now may be time to cash-in on some of these rewards.