Debit card rewards may be pared4 of 9Falling interchange fees also will give banks less incentive to offer customer rewards for debit card purchases, so expect rewards programs to diminish both in number and value, Garuccio says."JPMorgan Chase has already said that it's eliminating its rewards programs," he says. "Others have hinted they're going to do the same, if they haven't already." Related Articles:Consumer agency createdInvestors score some gainsFinancial reform dissectedFinancial regulation and youRelated Links:Finreg: free credit scoresMortgage changes comingBank reform: win or lose?Lower interchange fees advertisement
Falling interchange fees also will give banks less incentive to offer customer rewards for debit card purchases, so expect rewards programs to diminish both in number and value, Garuccio says.
"JPMorgan Chase has already said that it's eliminating its rewards programs," he says. "Others have hinted they're going to do the same, if they haven't already."
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