Ron Lieber has the scoop and surveys other rewards cards which have eliminated these fees recently, or are about to:
Chase has gotten rid of the fees on its co-branded cards with British Airways, Hyatt and Intercontinental Hotels.
In its wake, Citigroup’s card unit announced a similar move in my Your Money column this weekend, which is about the overhaul of much of its credit card lineup. Two new Citi cards will not have the fee.
And when I asked American Express why it was taking so long, company officials sped up an announcement they had planned for 2011 and made it in my column as well. AmEx will soon get rid of the fees for Platinum and Centurion (aka Black) card cardholders, both on consumer cards and the ones for small business owners.
Not surprising that this hasn’t remained a Chase competitive advantage, since it’s an easy dimension on which other banks can match. Capital One has long eschewed these fees, but who wants to earn Capital One points….?