Citibank has discontinued the following cards:

• Bronze AAdvantage, Bronze AAdvantage for College Students
• Bloomingdales Credit Card
• Macys Credit Card
• CitiBusiness with ThankYou Network

Schwab is no longer widely offering it’s fantastic 2% cash back Schwab Visa Invest First credit card, although you can probably still get one if you open an account.

In further bad news, many banks are raising APRs on cards and reducing rewards programs.

• Citi has raised its APRs on most cards by 1%
• US Bank has raised its APRs on most cards by 0.75%
• Wells Fargo has raised its APRs on most cards by a whopping 4.5%
• Citi ThankYou points are now worth a deceptive 5/6 of  $0.01, instead of the industry standard of 1 cent per point. Compare this to cards like the Chase Freedom where you can get 1.25 cents per point when you save up $200 worth of points before you redeem.