List of Credit Card ProvidersCredit card provider list
We experienced significant changes in the credit card industry in 2015, with new vendors and brand names joining the industry and continued to innovate. For many of the world' s major card issuers, who are aware of the changes in the overall economic environment, this year is likely to be a year of change.
Here I have compiled a list of five key drivers that will transform the credit card environment in 2016. Over the past few month, a number of card providers have waged a brawl of balancing settlement prices, with a continuous struggle between them to provide the longest 0% balancing settlement periods on the open markets.
For more than three years, several card providers have been advertising card with 0% interest on credit transfer for more than three years, but we anticipate that this competitive environment will decelerate in the next few month s-especially in view of the expected increase in interest during 2016/17. Meanwhile, many of the biggest card providers offer non-contact technologies such as Apple Direct Debit on their card readers.
In 2016, we anticipate that the remainder of the industry will take over similar characteristics for its own offerings and continues to use new payments technology. In fact, we can see the introduction of smart phone-based eCredit cards replacing conventional plastics. In general, there have been relatively few innovative offerings for clients with low or low credit ratings, with most new offerings and card styles first testing with more prime clients.
For 2016, we forecast a major credit and credit enhancer credit card innovator, with more card providers expected to join this area. Some providers have begun to offer cash card services to consumers. Using these card, clients can make direct transfers from the card to their accounts, with some brands having an interest-free term of more than three years.
In 2016, we expect to see the popularity of funds transfers increasing and a larger number of card providers to offer similarities. We' ve already seen that this amendment affects map providers: With Capital One reducing the cash back reward for their card, Santander raised the annuity for their 123 credit card from £24 to £36.
It is expected that other map providers will join and make changes to their product.