Since the scenario of credit cards and loyalty programs is being developed, consumers are looking for ways to maximize prizes, access special experiences and make their costs more hard for them. LI of the deep diver in this place, I sat down with Nick AwenTo discuss the future of senior editorial director, credit card trends, loyalty programs, and experimental rewards in points.
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The increasing effect of credit card rewards
Evene has been with the boy for more than a decade, and changes personal hobby for points and travels in career. By leading the editorial team, it covers everything from credit cards and loyalty programs to airlines, hotels and cruise.
“The biggest thing to advance the extension of the rewards cards is that consumers who traditionally use cash or debits are thinking that they can achieve valuable rewards without changing their spending habits,” said Eveen, explaining the rewards cards. “Even an easy annual fee credit card often spends 1 % cashback or $ 1 point per dollar.”
In addition, Evene’s strong fraud concerns refer to a credit card offer. Unlike debit cards, who are directly connected to the user’s bank account, credit cards provide zero responsibility on security layers and fake transactions. “If your credit card is compromised, you are safe. If your debit card is compromised, your money may be lost. Mental comfort is a factor.”
The battle of experimental loyalty
Since the competition between big credit card issuers intensifies, companies are looking beyond traditional points and cashback structures to distinguish themselves. Access to special programs – such as pressel concert tickets, sports and VIP experiences – becomes a descriptive feature of premium credit card.
“For example, Taylor was a predecessor for Capital One Card holders during a tour of Swift. City had similar arrangements. Buenos“Even shares.” This type of partnership provides card holders an important place in securing high demand tickets. “
Beyond concerts, experimental facilities are spreading sports events, pure experiences, and travel benefits. For example, the American Express offers card holders Access to the lounge in the US Open And special facilities in festivals like Kochila and SXSW.
“These programs want to sell the dream. If you are going to spend money on the trip, why not choose the card that you have a VIP treatment?” Evene asked.
Airline reward loyalty suspicious
There are significant changes in airline rewards programs, especially when selling premium cabin seats instead of upgrading airlines. “Fifteen years ago, the status of the elite guarantees almost an upgraded,” said Eveen. Now, airlines are selling 80-85 % of seats in the first class, which makes it very difficult to get a free upgrade. “
This change has caused some passengers to re -consider the airline’s co -branded credit cards in favor of more flexible rewards programs such as Chase Ultimat Rewards or American Express membership prizes.
Eveen added, “With transfer points, you can convert them to Delta, British Airways, or Air Canada as needed.
Although airlines still earn billions of their co -branded card partnerships, they should keep elite passengers busy, while maximum profit. “The challenge is ensuring that loyal consumers still feel the reward,” said Eveen. Otherwise, they can transfer their expenses to more flexible programs. “
The future of loyalty and travel rewards
Looking forward, Eveen saw the constant innovation of how credit cards were engaged. “We are looking at a smooth experience to blend, lifestyle and financial flexibility. Access to special event, food facilities, and travel safety is becoming more important as itself.”
As loyalty programs are developed, the ability to use the Points Points for experiments-whether it is the next row of cold play seats or a luxurious hotel upgrade key. “Consumers want more ways to use their rewards beyond flights and hotels,” he said. Credit card companies are listening, and we are scratching the level of what is possible. “
With major players like American Express, Chase, Capital One, City, and Wales Fargo, the war for consumers is increasing.
Consumers expect their credit cards to provide more than just prizes. They want access, security and unforgettable experiences.
