Credit card rewards are being gutted — and existing customers aren’t safe

Credit card rewards facing cuts as banks reduce points, bonuses and perks for all customers, warns Flight Hacks editor

Credit card rewards are being watered down across the board, according to Flight Hacks editor-in-chief Tom Goward.

Banks are cutting points earn rates, slashing sign-up bonuses and restricting airport lounge access, while new earning caps could be next.

And it is not only new customers who will lose out. Existing cardholders could also see valuable perks such as lounge access, complimentary guests and travel insurance stripped from their cards.