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4) Fewer rewards
4) Fewer rewards
Say goodbye to beach vacations and new iPods just for swiping your card.

Rewards programs have been enticing shoppers to charge a purchase rather than paying cash -- but card issuers are cutting back those perks.

"This is happening with a significant amount of cards," Hardekopf said, adding that many consumers are now receiving 1% cash back instead of the 2% or 3% they once enjoyed.

American Express recently cut its Blue Card's cash back policy from 1.5% to 1.25%. And all AmEx customers who make a late payment will no longer accrue points on their purchases -- however, those points can be reinstated with a $29 fee.

NEXT: 5) Slashed credit limits and canceled accounts

Last updated October 26 2009: 3:56 PM ET
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