Next year at this time, the credit card scene will look entirely different…namely more of a “one-size-fits-all” model. Consumers will see:
• less credit available
• higher interest rates
• more cards with annual fees
• lower credit card limits
• few perks, rewards, and freebies.
Students will find credit card applications more restrictive and with lower credit limits. Those under 21 will need a co-signer or proof that they can make payments.