With the sun setting on 2025, we’ve been reflecting on the exciting new changes that could be coming to credit cards, points and miles. arrive in 2026. There were enough product launches, card updates, and program changes last year to make our heads spin, so we’re eager to see if that momentum continues into the new year.
I reached out to some of my fellow credit card experts here at TPG to see what they think about the ways our industry could change in 2026. Here are our thoughts.
Mid-tier credit card upgrades
2025 marked the beginning of the update of three of the most popular premium credit cards on the market: the Chase Sapphire Reserve® (see rates and fees), he American Express Platinum® Card and The Business Platinum Card® from American Express.
With that out of the way, both TPG credit card writers Augusta Stone and I think we’ll see issuers focus on their mid-tier products next.
I anticipate that Chase will turn his attention to the beloved Chase Sapphire Preferred® Card (see rates and fees). We’ll probably see an annual fee increase of up to about $150 and at least one or two new statement credits to account for that.
This would be in line with what we’ve seen Chase do before, like when he updated the United℠ Explorer Card (see rates and fees) and increased their fee from $95 to $150 (after the first year of card membership).
In Augusta’s opinion, the American Express® Green Card It definitely “needs an update.” She noticed that the Amex Platinum and American Express® Gold Card Both have received updates in recent years, so it makes sense that it’s Amex Green’s turn. Amex Green losing its LoungeBuddy benefit without a replacement has Augusta thinking Amex may be ready to give it a new coat of paint.
The information for the American Express Green Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Continued devaluations of loyalty program transfer rates
Deterioration transfer relations are a relatively new trend this year, albeit an unfortunate one. Amex and Citi both devalued their Emirates Skywards transfer ratios. Additionally, Amex announced an upcoming reduction to its Cathay Pacific Asia Miles transfer rate.
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main writer Katie Genter and senior writer Ben Smithson (two of TPG’s top points and miles experts) believe this trend will continue through 2026. Ben called it “concerning” and said he fears it will become more widespread.
Katie agreed, but while she suspects some programs will continue to change transfer ratios to be lower than 1:1, she also believes Chase will maintain a 1:1 ratio for all your programssince it is a source of pride for the issuer.
The evolution of transfer rate devaluations highlights a point we often make Here at TPG: Don’t hog your points and miles. You never know when they will lose value, so redeem them for travel now.
Greater emphasis on issuers’ travel portals
We’ve seen issuers show increased interest in their travel portals this year, particularly Chase. In addition to updating the Sapphire ReserveChase presented Point increase to encourage eligible cardholders to make more reservations through its platform, Chase Travel℠.
Augusta and Ben believe we’ll see this become a proper trend in 2026. Ben said that as card issuers’ travel portals become more complex, he expects to see more incentives, such as high redemption values for booking within the card issuer’s ecosystem rather than making external transfers.
He warned, however, that cardholders should remember that it may be more expensive Book through a travel portal.
Augusta believes Points Boost will drive a new issuer initiative to launch competitive benefits. He highlighted Amex, Capital One and Citi as possible contenders to launch a benefit that competes with Points Boost. I hope Amex is the first to address this as it is Chase’s closest competitor.
Prizes with more dynamic prices, less time to get them
Most airline loyalty programs use dynamic pricing At this point, but we largely haven’t seen them use it for tickets that aren’t in their own metal.
Ben believes we will see this happen on a larger scale in 2026. He noted Air Canada Aeroplan the use of dynamic pricing for United and Emirates awards is a good example. He sees this as a potentially negative development and warns that we could see long-haul Emirates first class flights with up to 400,000 points for a single flight, for example.
In addition to the looming threat of astronomically priced prizes, Katie believes we will have less time to get the trade-ins we want. You’ve seen a trend for prize availability to disappear quickly, even if you act immediately after receiving a prize. availability alert. With more and more people investing in points and miles, Katie said it will become increasingly difficult to find good value redemptions.
Still, he encourages everyone to keep looking good deals.
Card Releases Galore
While a handful of new credit cards launched in 2025, the news cycle was largely dominated by notable card updates. The year 2026 could well prove the opposite, with highly visible product launches.
I expect Chase’s highly anticipated World of Hyatt premium card to arrive in 2026. As someone who remains predominantly Hyatt, I’ll pay close attention to any moves here.
Bilt has already confirmed it important changes to your line of credit cards as you partner with Cardless. With Bilt planning to release three new cards as part of its cardless debut, there’s a good chance its new set of card products will become one of the biggest talking points of 2026.
Bilt Mastercard information has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Augusta also believes that we may finally see Chase launch a suitable competitor to the American Gold. This is something I have been asking for for as long as I can remember, as Amex Gold currently lacks a true competitor from any of the major issuers.
Related: Why Chase Needs a Competitor for Amex Gold
More welcome bonus restrictions
We saw Chase undertake an initiative this year to restrict the ability of existing and former cardholders to earn new welcome bonuses at sapphire consumer and certain ink products. Capital One too made it harder for certain people to get bonuses on their Venture products.
Katie believes we will see this unfortunate trend continue, with issuers prioritizing family rules and personalized offers. For example, I think we could see Chase expand its recent restrictions on Sapphire and Ink welcome bonuses to its co-branded cards.
We may also see other issuers adopt American Express’ strategy of offering a variety of welcome offers for individual cards, rather than one set offer.
Additional restrictions on lounge access
Lounge access is one of the most appreciated benefits of credit cards. In recent times, we have seen issuers impose restrictions on access, such as Capital One. upcoming rule changes for its Capital One lounges. While frustrating for cardholders, these changes are a response to growing complaints about wait times and overcrowding.
Katie believes we will continue to see lounge owners impose restrictions on access. He noted that while lounge access is a favorite perk, once you have it, you may encounter long lines or crowded lounges, which is not a premium experience. For that reason, he believes venue owners are prioritizing ways to limit access and reduce crowding.
AI infiltrates credit cards
Associate credit card writer Stephanie Stevens has been thinking a lot about AI. She believes credit card issuers will begin using AI to help them create dynamic and targeted welcome offers for potential cardholders. He also believes AI will be used to manage lounge waiting lists and overcrowding.
Of course, introducing AI into anything raises security and privacy concerns, especially when it is given access to sensitive financial data. It remains to be seen where and how issuers will adopt these tools.
In a nutshell
2026 is sure to be an exciting year. We expect many attention-grabbing events, some positive and some negative. Regardless of what happens, one thing remains the same: points and miles are the best way to unlock amazing travel experiences.
We’ll still be here to help you get there, no matter what the next year brings.
