Our 2023 credit card predictions and trends: What did we get

As we bid farewell to 2023, stay tuned for our predictions for 2024 and get ready to follow what lies ahead in the ever-evolving world of credit cards, points and miles. For rates and fees of the ...

CouponFollow Extension

5%
OFF

Credit Cards Trends To Look For In 2023 - Cardratings.com

4 days from now

2022 has seen significant competition among reward cards, particularly cards with travel benefits, as pandemic concerns have lifted. Also, issuers have been dangling some big carrots in the form of rich signup bonus offers, including several “highest ever” opportunities. for example, is currently offering an additional 1.5% cash back on everything ...

cardratings.com

19%
OFF

5 Credit Card Trends To Watch For In 2023 - NerdWallet

4 days from now

Jul 24, 2023 · According to NerdWallet’s 2021 Consumer Credit Card Report, close to 1 in 5 credit card holders (19%) reported that the limit on one or more of their credit cards decreased since …

nerdwallet.com

0%
OFF

2024 Credit Card Predictions - LendingTree

4 days from now

Jan 2, 2024 · There are numerous options for getting rid of credit card debt. You could consider: Getting a 0% balance transfer credit card or refinancing credit card debt with a personal loan; …

lendingtree.com

FAQs about Our 2023 credit card predictions and trends: What did we get Coupon?

What will the consumer credit market look like in 2023?

The consumer credit market, which saw two years of aggressive loan growth, particularly for credit cards and personal loans, and delinquency rates that generally remained near pre-pandemic levels, is projected to experience more pronounced changes in 2023 according to TransUnion’s (NYSE: TRU) 2023 Consumer Credit Forecast. Delinquency rates for credit cards and personal loans are expected to... ...

Is 2023 a good year for credit cards?

TransUnion expects 14 million more credit cards to be issued in 2023 than in 2019, making it a potentially strong year for the consumer credit market. When taking 2022 out of the equation, more consumers will gain access to credit cards in 2023 than in any other year in the last decade. ...

What will 2023 hold in the world of credit cards?

In the world of credit cards, what we can expect in 2023 is increased amounts of credit card debt and shifts in the types of credit cards many consumers seek out. As we close one year and start another, let's take a look at these potential developments. ...

What is the outlook for credit card originations in 2023?

TransUnion expects 80.9 million new credit cards to be originated in 2023, which is a 7.6% decrease compared to the record setting 2022. ...

Why are credit card balances higher in 2023?

According to Siegfried, one reason for the trend of higher credit card balances in 2023 is that more consumers carry credit cards. This spreads risk among more borrowers, leading to greater debt and delinquency overall. Another factor that could contribute to higher balances in 2023 is how consumers use their cards during times of economic uncertainty. ...

Will credit card debt increase in 2024 and 2025?

Delinquencies, too, are projected to increase much more slowly in 2024 and 2025 than they did in 2022 or 2023. The exact trajectory of credit card debt levels will depend on evolving economic conditions, Coleman says, like interest rate changes and consumer spending habits. ...