Late last week a client notified me that activity skyrocketed in their rewards points program with sign-ups and redemption rates dramatically increasing.  That makes sense.  As consumers, we’ve been advised to be cautious with our money and that includes utilizing the membership benefits offered to us.

Yesterday, CNN sent a consumer alert that warned about changing rules and point systems on credit card reward programs.  This comes as a result of the economy and no doubt, redemption rate increases that are further hurting their bottom lines.

So first, I offer a note to consumers- watch out for these sneaky tactics credit card companies are employing to lessen rewards:

• Increasing the ratio of spending to rewards points earned
• Increasing point values of travel benefits so they’re harder for you to earn
• Giving you less time to redeem points before they expire

And now I pose a question to marketers- how will you use your rewards program?   Are you going to revise your rewards structure to save a buck and likely lose some hard-earned consumer trust?  Or are you going to use it as a business tool to offer customers what they need during a time when they need it most?  It is truly a unique opportunity to show the true colors of your brand.  Choose wisely.