In 2016, high-end credit cards attracted a lot of attention with generous rewards and perks. But this year, issuers are going back to basics — and perhaps charging you more in the process. Here are four credit card industry trends taking shape for 2017.
Instead of aspirational rewards, such as free hotel stays and airline flights, issuers will focus more on “bread-and-butter rewards” this year, such as cash back, says David Robertson, publisher of the Nilson Report, an industry newsletter.
“In 2017, we’ll see much more offers aimed at people in the middle class,” Robertson says. “All the big issuers have already committed themselves to their upscale programs. They have nowhere to go but down.”