According to DOC, Cardless has cut bonus earning categories on quite a few of its credit cards, and after taking a look, I also noticed that the welcome bonuses have dropped a lot.
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pelicans card
The welcome bonus is now just $50. The 4x on gas has been removed, and dining has been reduced from 4x to 3x.
Below were the original benefits.
Cardless New Orleans Pelicans Credit Card
4x on game tickets, dining, and gas; no annual fee!
- Welcome bonus: 30,000 points (spend $2,000 in 3 months)
- Rewards: 4x on Pelicans tickets, dining, takeout, and gas; 1x on all other purchases
- Redemption: 1:1 cash back; 1:1.25 for gift card redemptions
- Annual fee: $0
- Apply now>>
Miami Marlins card
The welcome bonus is still $250 for now, but the $100 gift card is gone. The 3x categories on gas, drugstores, and supermarkets have been removed.
Below were the original benefits.
Cardless Miami Marlins Credit Card
3x on dining, gas, and drugstores; no annual fee!
- Welcome bonus: $100 Fanatics gift card (spend $1,000 in 3 months) + 25,000 points (spend $2,500 in 3 months)
- Rewards: 5x on stadium purchases and game tickets; 3x on dining, gas, and drugstores; 1x on everything else
- Redemption: 1:1 cash back; 1:1.25 when redeeming for team gift cards
- Annual fee: $0
- Apply now>>
Boston Celtics card
The welcome bonus is now just $50. The 7x on rideshare and streaming and the 2x on supermarkets and drugstores have all been removed. Dining has been reduced from 4x to 3x.
Below were the original benefits.
Cardless Boston Celtics Credit Card
7% cash back on streaming and rideshare, 4% cash back on dining; no annual fee!
- Welcome bonus: 30,000 points (spend $2,500 within 90 days of account opening)
- Rewards: 7x on Celtics tickets, rideshare, and streaming; 4x on dining; 2x on supermarkets and drugstores; 1x on all other purchases
- Redemption: 1:1 cash back redemption; 1:1.25 for gift card redemptions
- Annual fee: $0
- Apply now>>
Manchester United card
The 5x on rideshare/streaming and the 5x at select restaurants have been removed, and the welcome bonus is now only $50.
LATAM card
These two cards are unchanged for now.
Cardless LATAM World Elite Mastercard Credit Card
A solid welcome bonus, a reasonable annual fee, plus LATAM frequent flyer benefits
- Welcome bonus: 40,000 LATAM Pass miles (spend $2,500 in three months)
- Rewards: 4x on LATAM purchases, 3x on dining and ground transportation (including Uber), 1x on all other purchases
- Redemption: Redeem for LATAM and SkyTeam award tickets
- Annual fee: $99
- Apply now>>
No annual fee, mediocre benefits
- Welcome bonus: 15,000 LATAM Pass miles (spend $1,000 in three months)
- Rewards: 3x on LATAM purchases, 2x at restaurants and on ground transportation (including Uber), 1x on everything else
- Redemption: Redeem for LATAM and SkyTeam award tickets
- Annual fee: $0
- Apply now>>
Summary
A lot of small banks and newly launched cards simply can’t sustain these rich benefits. Their basic playbook is to use a big welcome bonus and high rewards rates to attract a wave of users, then keep raising money or look for better partners. Later, once they figure out where they’re losing money or where people are gaming the system, they cut the benefits. Bonus categories like supermarkets and gas are especially easy to abuse.
So I have two suggestions:
- Avoid new products from small banks.
- Or, apply early when a card first launches and the welcome bonus is still high, grab the value, and move on.