Retirement Rewards’ Programs Add to the Ranks of Unique Credit Card Processing Incentives

In a bid to gain ground with aging boomers, especially in the face of a debit card industry that is rapidly gaining popularity, credit card companies have a new type of “rewards” card available. The new cards capitalize on recent trends toward fiscal responsibility. So-called retirement rewards cards offer consumers the chance to redeem points and turn them into deposits into IRA and other investment accounts. A senior financial analyst noted that the cards offer a consistent mechanism for putting contributions into a retirement account.

American Express and Ameriprise Financial MasterCard are both offering this service via a Fidelity Investments Retirement Rewards card.

Another interesting take on card rewards is the American Express program that allows cardholders to put their points toward tax payments.