Looking Ahead to Credit Card Changes in 2026

As we approach the end of 2025, there’s a lot of buzz about what might happen with credit cards, points, and miles in 2026. The past year has seen a flurry of new products, updates, and changes in programs, so it’ll be interesting to see if this trend continues into the new year.

I contacted some fellow credit card enthusiasts to gather their perspectives on the future of the industry. Here’s what we’re thinking:

Credit Card Updates on the Horizon

Three top-tier premium credit cards—the Chase Sapphire Reserve®, American Express Platinum Card®, and American Express Business Platinum Card®—are expected to receive some major updates in 2025.

My colleague, Augusta Stone, and I believe that after these big changes, card issuers will likely shift their focus toward improving mid-tier options.

We’re hoping to see some attention on the Chase Sapphire Preferred® Card. The annual fee could rise to about $150, coupled with new statement credits to justify the increase. This is similar to what Chase did with the United℠ Explorer Card, where the fee jumped from $95 to $150 after the first year.

Augusta thinks the American Express® Green Card is due for a revamp as well. Given that the Platinum and Gold Cards have recently been overhauled, it seems logical the Green Card would be up next. Without a replacement for the lost Lounge Buddy benefit, AmEx might be looking to refresh this card soon.

Devaluation of Loyalty Program Transfer Rates

This year has brought disappointing trends in transfer rates. Both American Express and Citi have decreased the transfer ratios for Emirates Skywards, and AmEx also announced a reduction for Cathay Pacific’s Asia Miles.

Experts at TPG, including Katie Genter and Ben Smithson, feel this disappointing trend may persist through 2026. Ben described it as “alarming,” expressing concerns about its potential expansion.

Katie added that while she doubts many programs will drop below a 1:1 transfer ratio, she believes Chase will likely keep its ratio steady due to its reputation.

This emphasis on reducing transfer ratios reiterates a common sentiment at TPG: don’t hoard points or miles, as you never know when their value might plummet. It’s often wiser to redeem them when you can.

Increased Attention to Issuer Travel Portals

This year, there’s been noticeable interest from issuers in their travel portals, particularly from Chase. With the Sapphire Reserve refresh, Chase introduced Points Boost to motivate cardholders to book through Chase Travel℠.

Both Augusta and Ben anticipate this trend will continue positively into 2026. Ben expects more enticing incentives to book through these portals, rather than opting to transfer funds elsewhere. However, he also warns that booking through travel portals can come at a higher cost.

Augusta believes Points Boost might encourage other issuers—like AmEx, Capital One, and Citi—to introduce competing benefits. Given that AmEx is Chase’s main competitor, it’s likely they’ll be among the first to respond.

Dynamic Pricing and Time Sensitivity of Awards

Currently, many airline loyalty programs utilize dynamic pricing, but I’ve rarely encountered it affecting flights not operated by the airline itself.

Ben believes this practice will expand in 2026, pointing to Air Canada Aeroplan’s dynamic pricing for United and Emirates awards as a telling example. He views this as potentially troubling, as, for instance, a single international first-class flight on Emirates could demand up to 400,000 points.

Additionally, Katie suggested we might find less time to secure desirable benefits, reporting that availability tends to vanish quickly even after promptly acting on alerts. With more people accumulating points and miles, she forecasts it’ll be increasingly challenging to score good deals.

New Credit Cards on the Scene

While 2025 saw several new credit card launches, it often felt like the spotlight was on prominent card refreshes. I suspect 2026 might shift back to high-profile product launches.

I’m particularly interested in Chase’s anticipated premium World of Hyatt card. As a loyal Hyatt guest, I’m keeping an eye on developments here.

Bilt also seems poised for significant changes as it partners with Cardless, teasing three new cards that could generate substantial buzz in 2026.

Augusta suggests that Chase might finally offer a genuine competitor to the AmEx Gold Card, which has remained without strong rivals among major issuers for quite some time.

Welcome Bonus Trends

This year, Chase took steps to restrict existing and former cardholders from earning new welcome bonuses on consumer Sapphire and some Ink products. Meanwhile, Capital One has made it tougher for some users to earn bonuses on its Venture offerings.

Katie thinks this trend of publishers tightening eligibility for bonuses will persist. She speculates that Chase may extend these restrictions to private label cards and that others could adopt AmEx’s practice of offering varied welcome offers for individual cards.

Restrictive Lounge Access

Lounge access remains a coveted perk among credit cardholders. Recently, issuers like Capital One have begun enforcing new limitations on this access due to increased complaints about overcrowding.

Katie pointed out that while lounge access is appealing, the reality often includes long waits and crowded spaces, prompting lounge owners to seek ways to manage access and minimize congestion.

The Rise of AI in Credit Cards

Associate Writer Stephanie Stephens posits that issuers may increasingly turn to AI for more targeted and dynamic welcome offers for potential cardholders. She also believes it could be utilized to handle lounge waitlists and manage crowd sizes.

Of course, the introduction of AI into this space brings up important security and privacy issues, especially if it’s given access to sensitive financial data. It remains to be seen how these innovations will be implemented.

Conclusion

It looks like 2026 will be a year filled with changes, both promising and concerning. Regardless of the developments, one thing is clear: points and miles continue to be the best tools for enhancing travel experiences.

No matter what unfolds next year, we’ll be here to guide you through it.