5 Predictions About the Future of Credit Cards


Over the last couple of years, credit cards have been enjoying quite busy times in local and international markets. In most countries, credit cards have been the bedrock of commercial setups.

So, the future is always looking bright in terms of credit cards. So, what more can be expected of them, or rather, what are some of the predictions for credit cards in our future?

credit card
credit card

Continued Increase in Annual Fees

Most people would probably not want to see this happen, but among other predictions that can be made for credit cards, it is inevitable.

As a credit cardholder, you can’t expect anything less with the continuous changes in inflation.

You should always be on the lookout for the increasing of fees. The fee will change from company to company, but it will be there.

At some point, as a user, you need to have that informed debate with yourself as to whether that price tag is worth it, considering the fees you’ll incur.

Growth of Contactless Cards

As early as this year, we’ve already seen the growth of contactless cards. You can only expect more in the coming years.

The whole swiping and inserting process is about to come to an end. Most banks are embracing the idea, as well.

Already, Visa, in September, 2018, announced that they would issue around 100 million contactless cards by the end of this year.

That will be a massive boost for most cardholders, as some used to feel the other swipe and insert methods were tedious.

Many merchants and store owners will have to adapt their payment methods to the new “tap” version.

70% of drug stores and restaurants have already embraced the tap method to date, with more still to follow.

Who Will Follow in Lyft’s Footsteps?

If you were waiting for the “wait and see”, here it is.

Lyft, being one of the significant app operators today with its cab services, is predicted to create their credit card with synchrony. Who among the other major apps in the same mold will follow in suit?

The most expected to do so has to be Airbnb.

It is logical for Airbnb to follow in Lyft’s direction, since they have the market, and it’s all about staying ahead of competition.

With their cards, they can offer loyalty programs to their clients and continue staying ahead.

More People to Get Credit Cards

With the growth of credit cards, you can be excused to think that everyone has one. That isn’t the case, however.

Now, with the significant changes in the cards, structure and otherwise, more people will get at least one.

Most lenders will use new methods [UltraFICO] to calculate your credit score, as opposed to traditional methods.

Banks to Stay Ahead of Savvy Points Strategists

With new credit cardholders, banks will want to stay ahead, since most of the original holders are with lower credit scores.

The competition will now only get tougher, with most banks looking to lure in new credit card applications.

This will make it more interesting, since most of the banks offer significant points just for signing up. The more you spend, the more rewards points will pile up.


Credit cards are bound to continue their steady growth, as expected, and more people will get them.

With that in mind, you always have to keep watch over the monthly fees and conditions.