Understanding the Evolving Landscape of Credit Cards

Deciphering the Credit Card Landscape: Insights from Michael Spelfogel of Cardless

Credit cards are still the most popular payment method among US consumers, with total transactional value projected to reach $3.8 trillion by 2025, according to eMarketer. However, choosing the right credit card can be a challenge with all the rewards and fees changing. To help consumers make informed decisions, Cardless Co-founder & President Michael Spelfogel joined Wealth! to discuss his company and offer insights into the shifting credit card landscape.

Spelfogel emphasizes the importance of selecting a credit card that aligns with individual preferences and spending habits. With so many credit cards available today, it’s crucial to choose one that offers rewards in areas where you spend the most. For example, Robinhood (HOOD) caters to younger generations like Gen Z and Millennials. Companies like Cardless aim to expand access to credit cards and provide a wider range of products tailored to different demographics and preferences.

Consumers can stay informed on the latest market updates and expert insights by watching the full episode of Wealth! The show provides valuable information on the changing credit card landscape and how to make the best decisions for their financial needs.

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