Past few years were very fluid for credit cards beginning with financial crumple of 2008 and followed by 2009’s Credit Card Act. With the stabilization of economy, potential group of customers have moved on to debit cards and many other modes of payment from credit cards. This further paved ways for manifold emerging trends for credit cardholders giving them an opportunity to adapt to changing marketplace. Here we have listed some most tagged on and sought-after trends.
- Perks beyond reward pointsHaving a credit card for travel rewards is intended to earn points or miles. This is because, bank contends more ferociously for high expenditure of business traveler. As an outcome of which, cardholders take miles and loyalty point for granted. Making an allowance for this change, all the renowned banks and financial institutions have started offering non-mileage perks. In contrast to old cards that just offered few miles, new version is crammed with perks like “bag fee waiver” or priority boarding. Other than the new credits cards, many more airline return cards are now actively involved in this trend and bring in companion certificates as well as lounge access along with other benefits.
- Cards featuring Faux MileageCapital One put forth “Miles” together with Venture One and Venture Rewards Card for the simple reason that they are airline. “Discover miles card” follows the same trend. Moreover, banks do not offer cards co-branded with actual carrier and found it compulsory to introduce “miles’ rewards for travel enthusiasts.
- Justifiable yet high annual chargesAmerican Express avails you with “Delta Gold Skymiles Card” at an annual fee of $99. This card comes with companion certificate of $99. In addition to this, Platinum Card from American Express is available at just $150 annual charge followed by companion certificate at free of cost. It is very obvious that the cards with higher value comes up with better deals, more benefits and added perks. Where premier version charges you with high annual fees, it substantiates the cost with reward bonus. With this, all we want to say is analyze both benefits and costs of cards with higher values rather than selecting the card with low annual cost.
- Fabulous signup bonusesPast few years brought about striking bonanza for signup bonuses like 100,000 miles with Visa card from British Airways. However, these offers do not exist any more but users of rewards cards are yearning to discover something new in coming months.
- Interest rateFor people carrying balance every month, it would be little exigent to shop for low-interest credit card. Most of the credit cards today have APR that is equal to prime rate together with additional percentage that varies with credit worthiness of applicant.
- ConclusionTough economic epoch has left bank with no other option than chasing customers with better credit scores. But, the good thing is that customers can keep pace with latest trends when it comes to credit cards, as this avails them with manifest benefits. In contrast, people who do not believe in examining detail might fail to make the most of new tricks offered by credit card firms.
About The Author: Sonali is an experience writer and has been writing on different topics like small business, Simple Personal Loans Online, finance and more. Currently she writes Noble Loans – Business Loans