Hmmm Is it just me or does it feel like more credit cards completely shut down than introduced to the market?
Nevertheless 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
Furthermore 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.
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Above all going forward, I suspect that RBC will put more emphasis on their RBC Rewards / Avion points program instead.