Market Overview:
A rewards card is a credit card that offers points, miles, or cash back for purchases made with the card or as a bonus for spending a specific amount in a certain amount of time. A rewards card can be obtained by anyone with any credit score, however, the best credit cards with incentives require at least excellent credit. There are a variety of yearly fees associated with rewards cards. Some of the finest rewards cards come with no annual fee, while others cost hundreds of dollars.
.Attributes | Details |
---|
Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Key Companies Profiled | American Express Banking Corp. (United States), Visa (United States), MasterCard (United States), Citigroup Inc. (United States), JPMorgan Chase & Co. (United States), Capital One (United States), Bank of America (United States), Discover Bank (United States), Synchrony Financial (United States), Barclays US (United States) and BlockFi (United States) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics by major and emerging geographies across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Key Vendors of Rewards Credit Card Market Study:
American Express Banking Corp. (United States), Visa (United States), MasterCard (United States), Citigroup Inc. (United States), JPMorgan Chase & Co. (United States), Capital One (United States), Bank of America (United States), Discover Bank (United States), Synchrony Financial (United States), Barclays US (United States) and BlockFi (United States)
On the basis of product type, the Rewards Credit Card market is segmented by Travel credit cards, Points rewards cards and Cash back credit cards.
Rewards Credit Card Market Dynamics:
Attributes | Details |
---|
Growth Drivers | - Growing the adoption of the Cashless transactions
- Increasing the Credit Card Users
|
Influencing Trends | - Swing in credit card spending and offers over the past several
- An increasing number of offers that let users choose their own adventure
|
Restraints | - As travel ended as a result of pandemic restrictions and lockdowns, several issuers, including the most prestigious travel credit cards, shifted their focus from travel incentives to benefits on everyday spending
|
Road Blocks / Challenges | - Due to high-interest rest customers could not use credit cards
|
Gaps & Opportunities | - Demand For Credit Cards Has Rebounded with an increase in card applications
- Alternative methods to build credit are helping people access credit and use cards
|
Latest Industry Highlights:
In July 2021- Bank of America announced the launch of the Bank of America Unlimited Cash Rewards credit card, which allows clients to earn unlimited 1.5% cash back on all purchases. This new credit card is the latest among Bank of America’s suite of rewards cards, each designed to fit a variety of clients’ needs. and In August 2021- Capital One launched the SavorOne Rewards for Students and Quicksilver Rewards for Students credit cards, student versions of Capital One's flagship credit cards designed to provide valuable rewards and more choices for customers beginning their credit journey.
In March 2022- Hardbacon, a personal finance application used by more than 35,000 Canadians, announced the acquisition of Simplerate.ca, consolidating its position in the rewards and credit cards space in Canada.
. The Global Rewards Credit Card market is gaining huge competition due to involvement of United States companies that constantly invest in research & development to meet market expectation with new innovation.
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Rewards Credit Card market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Rewards Credit Card market.
Identification of total players or companies operating in the global market which is further concentrated to a fewer or most impacting players which is considered under the reports scope. In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Reward Credit Card Providers, Banking Companies, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others.
This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):
What trending factors would impact Rewards Credit Card Market growth most?
"Swing in credit card spending and offers over the past several
" is seen as one of major influencing trends for Rewards Credit Card Market during projected period 2021-2027.
Is Rewards Credit Card Market Concentarted or Fragmented?
The Concentration Rate of Global Rewards Credit Card market is highlighted using HHI Index.
Who will contribute highest growth to Rewards Credit Card Market?
United States Vendors will contribute the maximum growth of Global Rewards Credit Card market throughout the predicted period.