Credit cards get friendlier after recession and reforms

The program addresses the common complaint that necessary expenses are treated the same way as discretionary ones. Chase spokeswoman Stephanie Jacobson said there is no penalty if customers are unable to pay those expenses in full. But if they miss the goal for three consecutive months, they are unenrolled from Blueprint and the interest waiver will no longer apply, she said.

The program also includes budgeting tools to help users pay off their debt more quickly. One feature divides payments for big-ticket items, such as new appliances, into a line item to appear on multiple bills. Another feature allows users to set a balance payoff date, and Blueprint will calculate the necessary monthly payments to achieve the goal. Customers' progress will appear on their statement each month.

Chase said it began developing Blueprint two years ago, before the recession took hold. But Jacobson said the company hopes it will resonate with consumers.

"It doesn't benefit anyone when we've seen default rates increasing as they are," she said. "We feel that it's very important to be building a strong product to better help consumers."

Two other new cards reward consumers for paying down their balances. The Citi Forward card lowers the interest rate by a quarter of a percentage point when customers stay under the credit limit and pay on time three months in a row. The Discover Motiva card refunds one month of interest after six on-time payments.

But experts caution that consumers should remember to do their math: Compare the benefit of the promotions with cards that offer lower everyday interest rates to make sure you're getting the best deal.

"They may be cutting you some slack over here, but they're hoping you spend more over there," said Bill Hardekopf, chief executive of LowCards.com.

At American Express, members have typically used their reward points for indulgences such as vacations or fancy dinners. But a new program allows people to use the points for necessities such as utilities and phone bills. Last week, the company said that the points could even be used to pay income taxes.

"We know that people today are really interested in figuring out how they can offset their spending," Korn said.

In addition, American Express launched an advertising campaign dubbed Take Charge to promote its charge card, which requires users to pay the balance in full each month, as an economical budgeting tool. The campaign features a group of women called the Smart Cookies, who formed a club to dig themselves out of debt and wrote a book about it, "The Smart Cookies' Guide to Making More Dough." They dispense advice on issues such as saving money on fuel and holiday spending.

Industry experts said such programs can help people get their finances under control, but they also cautioned that the primary objective of credit card companies is not to save you money -- it's to get you to spend it.

"It's very much like the beer companies telling you to drink responsibly," Hardekopf said. "They have to tell you that. They need to tell you that. There's too many bad stories."