Credit-card issuers’ revenue has been hit by declining consumer spending during the pandemic and its resulting economic disruption. Meanwhile, Capital One’s Savor Rewards customers can earn 5% cash back on orders through the delivery platform, and 4% cash back on subscriptions to streaming-video services such as Netflix, Hulu and Disney+. Matt Knise, the head of Capital One rewards, said his team made those moves after analyzing spending data and speaking directly to customers. Card providers that move quickly to match their reward programs to consumer spending will improve satisfaction over time, said J.D. They should, however, avoid letting new perks make their rewards programs too complex, Mr. Cabell added.

Source: Wall Street Journal September 02, 2020 09:56 UTC