2018 Credit Card Predictions: Will Your Face Replace Your Card?


What’s on the horizon for credit card users next year?

According to The Points Guy, a website focused on credit card rewards programs, there are specific offers and technologies that consumers should take advantage of in 2018.

Are you ready for what’s on the horizon in the year to come? These are the six predictions the website’s analysts have made for credit cards in 2018.

1. There Will Still Be Big Bonus Opportunities

Every year, credit card companies work hard to get prospective and existing customers to apply for new cards, and 2018 will be no different. There will be continued experimentation into which offers entice people. And big banks, in particular, will strive to add frequent business travelers who already have the excellent credit scores required for premium cards to their customer bases.

2. 2018 Might Be Bank of America’s Year

When it comes to credit card companies, Bank of America has fallen way behind Chase and American Express. But analysts believe next year might put them back in the running for the top tier, especially after the launch of the company’s premium rewards credit card in September.

3. Expect an Increase in Interests Rates

The Federal Reserve is expected to continue raising interest rates in 2018, and since credit card rates closely align with their moves, cardholders should expect to see their own interest rates shoot up. Advice from the analysts: Get out of debt as soon as possible.

4. No More Signatures

Mastercard has already put an end to the need for signatures when using its credit cards, and Discover and American Express are planning to follow suit by April of 2018. Analysts predict that the elimination of signatures will be applied across the board by the end of next year.

5. Your Face Might Replace Your Card

Facial-recognition has been gaining in popularity in the technology world, and it’s been predicted that next year credit card companies will implement the same software. Soon, you might be able to pay at the grocery store with just a scan of your face instead of a swipe of your card.

6. Complaints May Go Unanswered

Unfortunately, analysts predict the Consumer Financial Protection Bureau — which warns banks against deceptive credit card marketing practice — will be more lenient on financial institutions next year than it has been in the past. With a more banking industry-friendly stance, customer complaints and concerns may not be explored or investigated as thoroughly as you would like.

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