- Centurion Member
- Posts: 4140
- Joined: Thu May 08, 2014 7:42 pm
- Location: United States
Since I have become fully immersed in the Garden Cult, I have been filled with the spirit of 09. Okay, maybe it's just voices in my head, but they tell me if I share my predictions- they will go away. So thus saith Otter:
- Merchants will struggle to meet the liability shift. By the second half of the year, merchants will be scrambling to meet the October deadline. Most big companies will have chip and pin (or sig) terminals by the end of the year. The vast majority of smaller ones will not.
- Barclaycard will come out with a unique card. To me, Barclays' has the most interesting line-up of cards and sees themselves as innovators (both Sallie Mae and the Arrival are among the best rewards cards out there and then there's the ring which doesn't appeal to me but still has pretty neat features). I look for them to come out with a card which offers some unique way of earning rewards and it will become the new "big" rewards card.
- Amex will do something different. I could see Amex trying to shake things up this year. Either turning the charge cards into "hybrid revolvers" or maybe coming out with a new card(or bringing back an old card Zync?!)
- US Bank will nerf the Cash+ even more. US Bank is the nerfing king, so this isn't really a stretch. Look for the Cash+ to become the new "Citi Dividend"- a once worthwhile card which becomes increasingly worthless with each passing year.
- Chase will do something to increase CC profitabilty once again. Either increase the AF on the CSP (for everyone) or reducing rewards. They could possibly pull the "Citi Dividend" trick and make their categories weaker on the Freedom, but that would be in 2016.
- Wells Fargo and Citi will become increasingly marginalized. Even with the WF Amex and Double Cash cards, look for WF and Citi's market share to go down.
- myfico will have an even bigger card craze than OCCU/NASA/Diners Club combined. Someone (credit union, non-profit, etc) will come out with a card with very liberal underwriting (ie. "fixmycredit" will even get 5 digit CL) and myfico will go absolutely bonkers with everyone there leaving the garden en masse.
- B & T (and family) will go on an even bigger spending binge and will file bankruptcy. For real this time... someone will (unwisely) issue several of the B&T family members a card with a huge limit(perhaps the myfico card mentioned above) and they will live like kings and queens (and no... I'm not talking about the fact that royal families are all inbred). 70' tv's in every room, new kitchen appliances, and (of course) "the clapper" for everything which plugs into an outlet in their house. They will then embark on a giant cruise of the Carribean staying in five star hotels in every port. Sometime on the journey home, they'll realize they spent too much and file for a family bankruptcy.
So what dost thou prophesieth for 2015?
EMV chip acceptance is still limited.
Barclaycard and Amex haven't done anything too special. CashForward is very dull, and the Schwab Amex cards are still under wraps.
I don't think there have been any actual announcements of nerfing from Chase or US Bank...the nerfs were 2014 news.
Amex Green and Gold nerfs I think were all announced in 2014.
Wells Fargo has been further marginalized, but not Citi.
Venture and NBA were big crazes.
I think someone mentioned a B&T BK.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt
Plan to PC: Prestige to DC
SD with activity alerts, might close: Arrival and Brooks Bros
Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech, BofA Travel PH