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Credit cards entice users with more cash
Cash is king in the credit card rewards programs these days.
The latest example: Discover Card is kicking off a special offer of up to 10% cash back on restaurant meals charged to the card in September and October. The promotion follows a similar offer on grocery purchases made in April, May and June.
Discover pioneered cash-back rewards in 1986. Since then, others have followed. About 1 billion, or 25%, of all credit card solicitations last year involved cash-back rewards, according to industry tracker CardWeb.com. That's up from 700 million in 2002.
Cash is dethroning long-dominant airline rewards. One reason: "Finding free airline seats is harder with tighter inventories and more red tape," says Robert McKinley, CEO of CardWeb.
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Date Listed: 2004-08-17
More news about: Industry: Restaurants Category: Financial External Source
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