Understanding the Evolving Landscape of Credit Cards

Credit Card Landscape: Navigating the Best Rewards and Fees with Michael Spelfogel

Michael Spelfogel, the Cardless Co-founder & President, recently joined Wealth! to discuss his company and provide insight into the current credit card landscape. According to eMarketer, credit cards are expected to remain the most popular payment method for US consumers until next year, with total credit card transactional value projected to reach $3.8 trillion in 2025. However, with changing rewards and fees, it can be challenging for consumers to determine which cards are the best to use.

Spelfogel emphasizes the importance of selecting a credit card that aligns with individual preferences and spending habits. With the wide variety of credit cards available today, it’s essential to choose one that offers rewards in the areas where you spend the most. For example, companies like Robinhood (HOOD) cater to younger generations like Gen Z and Millennials. Spelfogel stresses that companies like Cardless aim to expand access to credit cards and offer a wider range of products to consumers. By providing options that are tailored to different demographics and preferences, consumers can make informed choices about their credit card usage.

For additional expert insights and the latest market updates, you can watch the full episode of Wealth! to stay informed on the changing credit card landscape and make the best decisions for your financial needs.

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