As the popularity of earning free air travel from credit cards wanes,
major credit card issuers are launching new options for rewards cards. This
week, American Express introduced the "Your Reward" program and Capital One
added more redemption options to its "MilesOne Rewards" card. The new AmEx
"Your Reward" program is a new feature to the "Membership Rewards" program
that, for the first time, allows enrollees to create their own unique
redemption packages. Under the "Your Reward" program, cardholders call a
toll-free redemption line and are connected with a concierge specialist who
will make suggestions, provide advice, research options, and make all
arrangements for the reward that fits the cardholder's point balance. Some
of the ready-made "Your Reward" redemption packages include season tickets
for two to big league baseball for 950,000 points; three-day polo
instruction from a world renowned player, at a beautiful polo club in Palm
Springs, California for 180,000 points; and a personal chef, who will teach
expert food preparation techniques and make a meal of a lifetime for up to
nine people for 95,000 points. Meanwhile, Capital One has revamped its
"MilesOne Rewards" card. In addition to earning miles for airline travel,
consumers now have a choice of redeeming miles for one percent cash-back,
electronics and merchandise, gift certificates at select merchants or
donations to a charitable organization. Under the "MilesOne" program, miles
are redeemable on any U.S.-based airline, with no blackout dates or seat
restrictions. The new cash-back feature enables cardholders to earn
one-percent cash back for miles. Miles can also be redeemed miles for gift
certificates from retailers such as Banana Republic, Bloomingdales and J.
Crew. Miles can be donated to charities such as the Habitat for Humanity;
Christian Children's Fund; United States fund for UNICEF; or St. Jude's
Children's Research Hospital.
As the popularity of earning free air travel from credit cards wanes,
major credit card issuers are launching new options for rewards cards. This
week, American Express introduced the "Your Reward" program and Capital One
added more redemption options to its "MilesOne Rewards" card. The new AmEx
"Your Reward" program is a new feature to the "Membership Rewards" program
that, for the first time, allows enrollees to create their own unique
redemption packages. Under the "Your Reward" program, cardholders call a
toll-free redemption line and are connected with a concierge specialist who
will make suggestions, provide advice, research options, and make all
arrangements for the reward that fits the cardholder's point balance. Some
of the ready-made "Your Reward" redemption packages include season tickets
for two to big league baseball for 950,000 points; three-day polo
instruction from a world renowned player, at a beautiful polo club in Palm
Springs, California for 180,000 points; and a personal chef, who will teach
expert food preparation techniques and make a meal of a lifetime for up to
nine people for 95,000 points. Meanwhile, Capital One has revamped its
"MilesOne Rewards" card. In addition to earning miles for airline travel,
consumers now have a choice of redeeming miles for one percent cash-back,
electronics and merchandise, gift certificates at select merchants or
donations to a charitable organization. Under the "MilesOne" program, miles
are redeemable on any U.S.-based airline, with no blackout dates or seat
restrictions. The new cash-back feature enables cardholders to earn
one-percent cash back for miles. Miles can also be redeemed miles for gift
certificates from retailers such as Banana Republic, Bloomingdales and J.
Crew. Miles can be donated to charities such as the Habitat for Humanity;
Christian Children's Fund; United States fund for UNICEF; or St. Jude's
Children's Research Hospital.