With the new year comes new trends. According to Nerdwallet, there are several trends credit card trends that everyone should look out for in 2019. These trends will create more incentives for consumers to make purchases by creating more incentives to use credit cards.
More Retailers are Offering co-Branded Credit Cards: Cobranded credit cards increase profits for retailers but come with several catches including higher interest rates for customers.
More entertainment and eating rewards programs: Several credit card companies like Capital One and Wells Fargo are offering more rewards for spending on entertainment and eating. These extra rewards can include triple points or additional rewards when make purchases in certain categories More credit cards companies will likely jump on the increased reward offering in order to compete with one another and gain market share which means more incentives for consumers to spend money at certain businesses.
Credit Card Spending is Increasing: More stores are going cashless. Going cashless saves retailers time and makes the checkout process quicker. Therefore, fewer cash options for consumers means they will be spending even more on credit card.
Contactless card use increasing. As consumers begin to appreciate contactless credit card options more credit cards are offering contactless debit and credit cards. By the end of the year Chase will offering contactless card options on all their cards