Is it just me or does it feel like more credit cards are being shut down than introduced to the market? It started with Petro-Canada, now it is Esso’s turn. Seems like gas loyalty programs are having difficulty maintaining their partnerships with credit card companies.
You will noticed that the RBC Esso Visa Card has already been taken down from the RBC website. On the Esso website, they still show the card, but mention that new applications are no longer accepted.
Below were the highlights of the credit card.
- No annual fee
- Earn 4,500 sign up bonus Esso Extra points after the first purchase
- Earn 2 points for every $1 spent at participating Esso branded retail stations
- Earn 1 Esso Extra point for every $1 spent on all other purchases
You may have received a letter in the mail saying that existing cardholders will cease on August 1, 2017.
I personally thought that this was a decent no annual fee card. What I find disappointing is not so much the discontinuation of a credit card, it is more the fact that we are not really seeing new products being introduced. The last time RBC shut down a card (RBC Gold Card), they converted it into a different card (RBC Rewards+) at least.
Going forward, I suspect that RBC will put more emphasis on their RBC Rewards / Avion points program instead.