NEW YORK—Some major issuers are eliminating card benefits they way consumers give little attention.
According to a recent report by Marketing Strategies International, extraneous benefits like price protection aren't really driving value for cardholding customers.
The report states that 80% of cardholders are "unclear" about the benefits of their credit cards, reported MarketWatch. Fifty-two% of cardholders reported they "know little or nothing" about the extra features.
“Cardholders are looking for no annual fee, cash back, and low interest rates, rather than extra perks like price protection. In light of these findings and data from the credit card issuers, Chase eliminated price protection entirely while Discover and Citi are starting to cut back, with other major companies soon to follow,” MarketWatch said.