I've got some professional background in payment systems and am convinced that this is the golden age of credit card reward programs. There is an enormous class action lawsuit wending its way through the courts against Visa and MasterCard alleging anti-trust violations in interchange pricing. (Interchange represents part of the fees paid by merchants to accept credit cards.)

If the suit is decided in favor of the merchants, as I believe it will be, interchange rates will come down significantly. While this would be great for those who accept credit cards and, overall, good for consumers (interchange fees are baked into prices as a cost of doing business) it would represent the death of generous rewards programs as we know them, as the rewards are funded by the fees received from merchants.

Take a look at the comparatively stingy reward programs tied to debit cards and you'll get an idea of what the future holds.

Enjoy it while it lasts, folks!