Trends

Technology Advances – EMV Chips and Mobile Wallets

CNBC’s Kelli Grant spoke with Matt Shultz from CreditCards.com about changes for credit cards in 2015. Shultz spoke of EMV technology as one of the biggest impending changes, and explained that a side effect of the new technology may well be more potential for use of mobile wallets.

Mike Jelenik also discusses chip technology when revealing his picks for Best Rewards Credit Cards of 2015. Visa and MasterCard are on track to bring the new technology to U.S. shores by October this year. Apple Pay and other mobile wallet services are encroaching as well.

2015 Credit Guide’s General Credit Card Guidance for the New Year offers an easy to understand breakdown on the new technology. With some history, an explanation of the change and how the chip and pin tech will be used, you’ll be much better informed about this important development in the credit card world after this quick read.

Secure credit cards coming in 2015 by Gregory Bresiger further educates the consumer about chip technology for credit cards in the U.S.

For a more in-depth view of chip and pin cards and how they’ll heighten security, read Tom Gara’s Wall Street Journal article, October 2015: The End of the Swipe-and-Sign Credit Card. He speaks with Carolyn Balfany from MasterCard to get some enlightening answers on the switch-over.

More Security Features

In 5 Credit Card Predictions for 2015, Susan Johnston notes that heightened credit card security isn’t limited to EMV and Chip technology, citing Capital One Second Look as one example of this.

Interest Rate Hike

Curtis Arnold, founder of BestPrepaidDebitCards.com and CardRatings.com , told Grant he predicts higher interest rates in 2015 and suggests that consumers start looking for fixed rate cards if they are currently carrying a balance on their credit card. Another good option would be advantageous balance transfer offers with fixed rates set over a finite time period.

Enhanced Rewards and Benefits

Grant says NerdWallet’sDirector of Credit Cards Kevin Yuann urges consumers to take advantage of more enticing benefits this year, specifically the regular review of your credit score, extended manufacturers’ warranties and price adjustments.

Johnston discusses enhanced card benefits on U.S. News Money, such as free credit scores and better rewards offers for points and cash back credit cards.

Increase in Credit Access and Balance Transfer Offers

Johnston predicts good news for consumers looking for credit in 2015. She says the evidence points to lenders relaxing their credit standards and offering more no interest or low interest balance transfer offers.

Changes to Airline Miles/Points Programs

In Delta Pay With Miles Tickets Will Now Earn SkyMiles in 2015, the Points Guy Brian Kelly finds a silver lining amongst the largely negative changes to the Delta SkyMiles program.

Tips

• Jeanine Skowronski at Bankrate.com offers 10 tips for managing credit cards in 2015. From suggestions to be more vigilant about your credit, card security and your contract terms and conditions to making sure that you are reaping all the benefits available to you, Skowronski covers some important guidelines for the credit card consumer.
• If you enjoy traveling and use a rewards card to earn miles or points for your passion, Kelly’s Best Ways to Earn Travel Points: Get The Points Guy’s Top Tips provides some quick tips for how you can easily earn more points/miles in 2015.
• If you’re wondering whether you should get a new card in 2015, Nerdwallet’s contributor Erin El Issa has you covered in Should You Apply for a Credit Card in 2015? where she weighs the pros and cons of applying for a credit card for those without and replacing an old card for those with.
• Tasha Lockyer of NextAdvisor gets a jump on the New Year with her picks for the Best Credit Cards for 2015. Credit card issuers are poised to get in on the spirit of new beginnings with consumers looking for new cards. If you’re in the market, don’t miss this great wrap up on some top card offers.
• Business in 2015 also jumps in with a list of The Best Cards for 2015, with an informative forward about the new chip technology. The article spotlights a top card for each of seven different categories.
• If your interest is Rewards Cards, check out 10 best rewards credit cards of 2014 to review how they have performed over the past year and get the main pros and cons of each.
• The Small Business owner can benefit from Best Credit and Charge Cards for Small Businesses and Startups – Winter 2015 by Brendan Harkness. With information about business cards in general and very detailed information about Credit Card Insider’s top picks, this is a valuable resource.