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What's New in Credit Cards for 2016?

Summary:Stay up-to-date with the latest trends in credit cards for 2016. From EMV chip technology to personalized rewards programs, find the card that suits your needs.

The credit card industry is constantly evolving, and 2016 is no exception. There are a number of new trends and features that are worth keeping an eye on if you're interested in maximizing your credit card benefits and minimizing your costs. In this article, we'll take a closer look at some of the most important changes and updates in the credit card world this year.

EMV Chip Technology

One of the biggest changes in the credit card industry in recent years has been the adoption of EMV chip technology. This technology is designed to make credit card transactions more secure by generating a unique code for each transaction. This makes it much more difficult for fraudsters to steal credit card information and use it to make unauthorized purchases. Although EMV technology has been around for a while, it wasn't until 2016 that many credit card companies fully adopted it in the US.

Rewards Programs

Credit card rewards programs have been around for years, but they continue to evolve and become more complex. In 2016, many credit card companies are offering new rewards programs that are designed to appeal to specific types of consumers. For example, some companies are offering rewards for travel purchases, while others are offering rewards for online shopping or dining out. Some rewards programs are also becoming more personalized, allowing customers to earn points for purchases that are tailored to their individual interests and spending habits.

Mobile Payments

Mobile payments are becoming increasingly popular, and 2016 is expected to be a big year for this trend. Many credit card companies are partnering with mobile payment providers to offer customers the ability to make payments using their smartphones. This is especially appealing to younger consumers who are more likely to use their smartphones for shopping and other purchases. Mobile payments are also more secure than traditional credit card payments, as they often use biometric technology to verify the identity of the user.

Fees and Charges

Credit card fees and charges are always a concern for consumers, and 2016 is no exception. Many credit card companies are introducing new fees and charges, such as annual fees or foreign transaction fees. It's important for consumers to carefully review the terms and conditions of any credit card they're considering, to ensure that they understand the fees and charges associated with the card. Some credit cards also offer incentives for avoiding certain fees, such as waiving the annual fee for customers who spend a certain amount each year.

Tips for Applying for a Credit Card

When applying for a credit card, it's important to carefully review the terms and conditions of the card. This includes any fees and charges, as well as the interest rate and any rewards programs that may be offered. It's also important to ensure that you have a good credit score, as this will help you qualify for the best credit card offers. Finally, be sure to pay your credit card bill on time each month, to avoid late fees and negative impacts on your credit score.

Saving Money with Credit Cards

Credit cards can be a great way to save money, as long as you use them responsibly. Many credit cards offer rewards programs that allow you to earn points or cash back on your purchases. Some credit cards also offer special discounts or promotions for certain types of purchases, such as travel or dining out. Finally, some credit cards offer 0% APR introductory rates, which can help you save money on interest charges if you need to make a large purchase.

Avoiding Credit Card Risks

While credit cards can be a great way to build credit and earn rewards, there are also risks involved. One of the biggest risks is overspending, which can lead to high levels of debt and financial problems. It's important to use credit cards responsibly, by only spending what you can afford to pay back each month. It's also important to be aware of the fees and charges associated with your credit card, to avoid any surprises. Finally, be sure to monitor your credit card statements regularly, to ensure that there are no unauthorized charges or other issues.


In conclusion, 2016 is a year of change in the credit card industry, with new trends and features emerging that can benefit consumers who use credit cards responsibly. By carefully reviewing the terms and conditions of any credit card you're considering, and by using credit cards responsibly, you can maximize your benefits and minimize your costs. Whether you're looking for a new rewards program, a mobile payment option, or simply the best interest rate, there are many credit card options available that can meet your needs.

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