Hmmm Is it just me or does it feel like more credit cards are being shut down than introduced to the market?
It started with Petro-Canada, now it is Esso’s turn.
Seems like gas loyalty programs are having difficulty maintaining their partnerships with credit card companies.
Below were the highlights of the credit card.
- Firstly annual fee
- Earn 4,500 sign up bonus Esso Extra points after the first purchase
- Earn 2 points for every $1 spent at participating Esso branded retail stations
- Lastly Earn 1 Esso Extra point for every $1 spent on all other purchases
You may have received a letter in the mail saying that existing cardholders will cease on August 1, 2017.
I personally thought that this was a decent no annual fee card. What I find disappointing is not so much the discontinuation of a credit card, it is more the fact that we are not really seeing new products being introduced. The last time RBC shut down a card (RBC Gold Card), they converted it into a different card (RBC Rewards+) at least.
Going forward, I suspect that RBC will put more emphasis on their RBC Rewards / Avion points program instead.