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Rewards Shrink
The totally awesome rewards-earning capabilities of my best rewards credit card are about to shrink. Effective October 30, they will be merely good. This happened to a lot of cards many months ago, but not mine, and I have been thankful. (Note to self: must stock up on gas, groceries and drugstore stuff before October 30.)
While I was reading the fine print to see if I could tell them that I refuse this change (hey, I've seen that sort of thing!), I found this scary phrase under "Right to Change/Modify/Cancel": "We reserve the right to alter or waive any Program feature or benefit [duh, I knew this] prospectively or retroactively, including, without limitation, participation fees, point accrual or redemption criteria, or to cancel or temporarily suspend the Program at any time without prior notice."
Prospectively or retroactively? Suddenly I want to look up prospectively in the dictionary: yep, that means in the future.
Participation fees? There aren't any. They could suddenly start charging some and making that retroactive? Wha?
(I already knew to cash in my points every time I have enough to do so. My program doesn't give me a bonus for holding out.)
I should refuse to hold such a card. Only I suspect that the scary-sounding thing is unenforceable. Well, I am going to assume so, anyway.
While I was reading the fine print to see if I could tell them that I refuse this change (hey, I've seen that sort of thing!), I found this scary phrase under "Right to Change/Modify/Cancel": "We reserve the right to alter or waive any Program feature or benefit [duh, I knew this] prospectively or retroactively, including, without limitation, participation fees, point accrual or redemption criteria, or to cancel or temporarily suspend the Program at any time without prior notice."
Prospectively or retroactively? Suddenly I want to look up prospectively in the dictionary: yep, that means in the future.
Participation fees? There aren't any. They could suddenly start charging some and making that retroactive? Wha?
(I already knew to cash in my points every time I have enough to do so. My program doesn't give me a bonus for holding out.)
I should refuse to hold such a card. Only I suspect that the scary-sounding thing is unenforceable. Well, I am going to assume so, anyway.