The Future of Credit Cards in 4 Predictions

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 looking increasingly 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?


In this article, we’ll delve into some of our own thoughts on what credit cards will be and do for us in the near future. Interested? Let’s get some predictions going!

credit card

1. 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 an increase in fees. The fee will change from company to company, but it will be there. At some point, as a user, you need to have an informed debate with yourself as to whether that price tag is worth it, considering the fees you’ll incur.

2. 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.

In September 2018, Visa already announced that it would issue around 100 million contactless cards by the end of this year. That will be a massive boost for most cardholders, as some feel that swipe and insert methods were tedious.


Many merchants and store owners will have to adapt their payment methods to the new “tap” version. However, 70% of drug stores and restaurants have already embraced the tap method to date, with more still to follow.

3. Someone Will Follow in Lyft’s Footsteps?

If you were waiting for the “wait and see”, here it is. Lyft, being one of the most 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 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 the competition. With their cards, Lyft and Airbnb can offer loyalty programs to their clients and continue staying ahead.

4. More People Will 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 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. This change has the potential to open up credit cards to a whole new group of potential cardholders.

5. Banks Will Stay Ahead of Savvy Points Strategists

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

The competition will get tougher, with most banks looking to lure in new credit card applications. This will likely 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. Competing card companies results in big rewards for cardholders.


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. Always remember, no matter how common they become, using a credit card is a privilege. Therefore, it is important to be a responsible spender.