Understanding the Evolving Landscape of Credit Cards

Michael Spelfogel, the Cardless Co-founder & President, recently joined Wealth! to discuss his company and provide insight into the changing credit card landscape. With credit cards remaining the most popular payment method for US consumers until next year, it can be challenging for consumers to determine which cards are the best to use with changing rewards and fees.

Spelfogel emphasizes the importance of selecting a credit card that aligns with an individual’s preferences and spending habits. He suggests that companies like Robinhood (HOOD) cater to younger generations like Gen Z and Millennials. By providing options that are tailored to different demographics and preferences, consumers can make informed choices about their credit card usage.

Cardless aims to expand access to credit cards and offer a wider range of products to consumers. Spelfogel mentions that companies need to focus on offering rewards in areas where consumers spend the most. This is crucial for customers as they can make better decisions about their finances by choosing a credit card that offers rewards that align with their spending habits.

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

By Sophia Gonzalez

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