5. Fixed-rate cards will shift to variable rates: In 2009, issuers switched many fixed-rate cards to variable rates, which rise and fall with the prime rate. The prime rate is currently at 3.25%, the lowest level since the 1950s. As the economy recovers, the rate is expected to rise and customers will likely feel the increase. If your card still has a fixed rate, expect it to be switched to a variable rate in the next month.6. Fewer rewards on some, more rewards on others: Rewards sound generous in advertisements, but the points formula can be complicated and subject to change. Expect issuers to play musical chairs with rewards in 2010.
Seven Credit Card Predictions for 2010
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.