As rewards cards face regulation, what are the alternatives?

Ronald Duben is ready to give up his credit card. He thinks there’s something better out there — and there almost certainly is.

Many debit cards even have travel benefits such as no currency conversion fees, but there are limits: Car rental companies and hotels may not accept a debit card.You shouldn’t pay an annual fee for your credit card. And if you do a little research, you can find a card with less than a 10% annual interest rate. Hint: Check with a credit union. Many of these cards also have all the travel benefits you need, including coverage for car rentals and medical evacuations — and no currency exchange fees.

Andy Abramson, a communications consultant from Las Vegas, uses both and likes the speed of transfer and the favorable exchange rates when moving dollars to another currency.Are rewards credit cards obsolete? Have they become bloated and inefficient, with their high swipe fees and exorbitant interest rates and empty promises of free tickets? Some industry watchers believe the answer is yes.

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Walmart ends Capital One partnership. What it means for cardholdersWalmart has ended a partnership with Capital One that made the banking company the exclusive issuer of Walmart’s consumer credit cards. The companies announced the change Friday. The companies said card holders can still use their Capital One Walmart Rewards cards, which will continue to accrue rewards unless customers are notified of a change.
Source: AP - 🏆 728. / 51 Read more »