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Credit card companies give hot deals on travel reward credit cards

2011-07-12

In a bid to attract customers credit card companies are offering hot deals and giving cardholders a lot of benefits. Now, the frequent travelers will have to decide if they have to look for better offers or stay on with their existing card companies.

Some of the hot deals that are being currently offered are waived fees on first baggage that is checked as well as for the people who are traveling along with you. Free passes are also being offered to airline clubs and the foreign transaction fees are waived off. Apart from the bonus miles that are offered, the annual fees are also waived off for the first year.

The competition in the rewards cards segment is going up and this kind of fierce competition was never seen earlier, states Odysseas Papadimitriou, CEO of a credit card comparison site.

According to reports from The Wall Street Journal, credit cards are offering a lot of rewards and perks in order to attract the wealthier customers. Since the travel reward cardholders are big spenders and charge around $1,359 per month when compared to $805 that an average cardholder charges, card companies are all out to attract the big spenders.

The Platinum Card from AmEx that charges an annual fee of $450 has now decided to add several travel extras which could be more than the card cost. So, you can now choose from the number of cards that are available such as Capital One Financial, J.P. Morgan Chase, and Citigroup etc.