This past Monday the Wall Street Journal ran a special section profiling the very best 10 styles in 10 industries. One of the articles is approximately the very best 10 developments in bank cards (requires membership). You’d think something as mundane and well-established as bank cards couldn’t possibly have any new developments.

But, in reality, a lot is changing and changing. Here are the top 10 trends in bank cards: 1. Loyalty Awards More Attractive – Loyalty programs that let credit card users to accumulate points for using their credit cards, are growing in popularity. Today’s commitment programs allow consumers to get rewards quickly, without waiting years.

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• Washington, District of Columbia – $52,144 – $76,643
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And just forget about frequent flier was — many programs let you use your factors to pay for all kinds of things, including telephone bills and oil changes — even cash return. 2. Debit Cards Grows – Debit cards, where in fact the money is electronically withdrawn from your back again accounts, represent the quickest-growing portion of digital transactions.

One of three in-store purchases today is with debit cards. Look for online transactions to be another frontier for debit cards. 3. TOTALLY FREE Too Small – Remember when retailers used to truly have a size less for a credit card purchase? Some still do, because of the deal fees billed. 99 tunes from iTunes.

4. A FAR MORE Level Playing Field – Expect even more credit cards pitches in your mailbox, because banking institutions can now concern credit cards through Discover and American Express, in addition to Visa or MasterCard. My shredder burped! 5. Foreign Currency Conversions Lead to Litigation – Bank cards have been the prospective of course-action lawsuits before on a variety of issues.

The latest hot litigation topic: suits against credit credit card providers for failing woefully to disclose fees on forex transactions. 6. Credit Card Gift Cards – Many banks offer gift cards branded with the Visa or MasterCard logo, you can use like a credit card up to a specified amount.

But look out, there have been a lot of consumer complaints about excessive dormancy fees and expiration dates. 7. Hey, Big Spender – The credit card issuers not only want the small sales, they want the big spenders too. Coutts bank in the U.K., that counts Queen Elizabeth as a person, offers a higher-end credit card in purple that is delivered in a mahogany box. 8. Fingerprints and Irises – Bank cards are going hi-tech, to make transactions faster and to prevent scams. Some issuers are employing fingerprint scans, needing the customer to put a finger on a fingerprint audience.

Others are employing RFID tags — the card or perhaps a key fob is merely waved before an audience, completing the transaction in seconds. 9. Vendors Fight – Retailers have a love-hate relationship with bank cards Back again. They feel no choice is had by them but to accept high fees from Visa, MasterCard, etc. They’ve begun to fight with lawsuits and boycotting certain cards. No Problem – About 10 million U.S. That is why prepaid credit cards are on the rise.