Understanding the Evolving Landscape of Credit Cards

Credit cards will remain the most popular payment method for US consumers until next year, with a projected total transactional value of $3.8 trillion in 2025, according to eMarketer. However, with changing rewards and fees, it can be challenging for consumers to determine which cards are the best to use.

Cardless Co-founder & President Michael Spelfogel recently joined Wealth! to discuss his company and provide insight into what consumers should consider in a shifting credit card landscape. Spelfogel emphasizes the importance of selecting a credit card that aligns with the individual’s preferences and spending habits. With the wide variety of credit cards available today, it’s essential to choose one that offers rewards in the areas where you spend the most.

Spelfogel mentions examples like Robinhood (HOOD), which caters to younger generations like Gen Z and Millennials. He stresses that companies like Cardless aim to expand access to credit cards and offer a wider range of products to consumers. By providing options that are tailored to different demographics and preferences, consumers can make informed choices about their credit card usage.

For additional expert insights and the latest market updates, you can watch the full episode of Wealth! to stay informed on the changing credit card landscape and make the best decisions for your financial needs.

By Riley Johnson

As a content writer at newsmol.com, I dive into the depths of information to craft compelling stories that captivate and inform readers. With a keen eye for detail and a passion for storytelling, I strive to create engaging content that resonates with our audience. Whether it's breaking news, in-depth features, or thought-provoking opinion pieces, I am dedicated to delivering high-quality, informative content that keeps readers coming back for more. My goal is to bring a fresh perspective to every article I write and to make a meaningful impact through the power of words.

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