Our 2024 credit card predictions and trends: What did we get right and wrong?

17.12.2024 - 15:39 / thepointsguy.com

At the start of 2024, we made 10 predictions on credit card trends that we expected to see this year. Among them were higher fees, lower interest rates and superior technology.

So, as we do each year, let's critically examine our predictions to see which ones we got right, partially right and wrong.

We're looking at you, American Express. The issuer is the king when it comes to adding new and sometimes hard-to-maximize statement credits as part of "card refreshes."

We predicted that issuers would add new statement credits with specific partners, coming in the form of monthly, quarterly, biannual or annual chunks — and we were right.

Amex refreshed its suite of Delta cards in February, The Hilton Honors American Express Business Card in March, and the popular American Express® Gold Card in July, adding credits with partners like Dunkin' and Resy (the latter of which is owned by American Express itself).

We didn't really see other issuers add new statement credits this year — apart from Chase rejigging its DoorDash credits — but that doesn't mean they won't next year.

Usually, existing cardmembers can come out on top with increased annual fees — but only if they maximize all the existing and new statement credits.

Let's be real: It's uncommon to see an issuer decrease its annual fees and authorized user fees. Inflation affects credit cards, too.

I think all of us could predict that Amex's card refreshes would come with higher annual fees. Indeed, the cards mentioned above all hiked their annual fees as part of their refreshes this year.

Surprisingly, the refresh of the Citi Strata Premier℠ Card (see rates and fees) in May was comparatively minor. Among the changes Citi announced was a new card name, an additional bonus category (for electronic vehicle charging stations) and reintroduced travel protections — all for the same $95 annual fee. I would've expected an increase to $150, which I expect to become the new standard for mid-tier cards over the next couple of years.

Does that mean that when Citi potentially relaunches and rebrands the Citi Prestige® Card, it won't hike its current $450 annual fee? Let's hope — but I think it's unlikely.

The information for the Citi Prestige has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

I also predicted that the Capital One Venture X Rewards Credit Card would increase its annual fee to edge closer to its two main competitors, the Chase Sapphire Reserve® and The Platinum Card® from American Express. That (thankfully) didn't happen.

In fact, the lower annual fee played a role in Venture X winning Best Premium Travel Card at the 2024 TPG Awards, as it has remained at $395 since