As 2025 comes to a close, we’re reflecting on potential transformations in the realms of credit cards, points, and miles for 2026. Last year was brimming with product launches, card upgrades, and program updates, and we’re keen to see if that energy carries forward.
I reached out to fellow credit card specialists at Flying Frugal to gather their insights on what changes might be on the horizon for our industry in 2026. Here’s a summary of our predictions.
Upcoming Enhancements for Mid-Tier Credit Cards
2025 saw significant updates for some of the most sought-after premium credit cards, including the Chase Sapphire Reserve®, the American Express Platinum Card®, and The Business Platinum Card® from American Express.
Now that those are addressed, Flying Frugal credit card writer Augusta Stone and I foresee that issuers will shift their focus to enhancing mid-tier offerings.
I expect Chase to focus on the popular Chase Sapphire Preferred® Card, likely increasing its annual fee to around $150 and adding one or two new statement credits.
This aligns with previous changes by Chase, like the fee hike for the United℠ Explorer Card from $95 to $150 after the first year.
Augusta believes that the American Express® Green Card is due for an update, especially since the Amex Platinum and American Express® Gold Card have both been refreshed recently. The removal of the LoungeBuddy benefit without a replacement suggests that the Amex Green might be next in line for a makeover.
Details for the American Express Green Card were independently sourced by The Points Guy and have not been reviewed or provided by the issuer.
Ongoing Devaluations of Loyalty Program Transfer Rates
This year has seen a decline in transfer ratios, which is concerning. Both Amex and Citi have downgraded their Emirates Skywards transfer rates, and Amex is set to reduce its Cathay Pacific Asia Miles transfer ratio as well.
Lead writer Katie Genter and senior writer Ben Smithson, two of Flying Frugal’s leading experts on points and miles, predict this devaluation trend will persist into 2026. Ben described it as “worrying,” with concerns that it will become more widespread.
Katie shares this view. While some programs may lower transfer ratios below 1:1, she believes Chase will continue to honor a 1:1 ratio across all its offerings, as it is a point of pride for them.
This trend reinforces a key message: Don’t hoard your points and miles, as their value can decrease unexpectedly. Redeem them for travel now.
Heightened Focus on Issuer Travel Portals
Issuers have shown increased interest in their travel portals this past year, particularly Chase, which introduced Points Boost to encourage eligible cardholders to book through its Chase Travel℠ platform alongside the Sapphire Reserve refresh.
Augusta and Ben both anticipate this will evolve into a broader trend in 2026. Ben foresees more features like high redemption values for bookings within the issuer’s ecosystem instead of external transfers.
However, he cautions that booking through a travel portal can sometimes be more expensive.
Augusta believes Points Boost will spark new initiatives among issuers to introduce competitive benefits, naming Amex, Capital One, and Citi as top contenders, with Amex likely taking the lead.
Dynamic Pricing for Awards and Limited Availability
While airline loyalty programs have largely adopted dynamic pricing, it’s mainly not applied to tickets outside their own fleets—this could change in 2026. Ben notes examples like Air Canada Aeroplan’s dynamic pricing for United and Emirates awards.
He views this as potentially troubling, suggesting first-class Emirates flights could soar to 400,000 points.
Katie also highlights concern over decreasing award availability, noting that coveted redemptions seem to vanish quickly, making it harder to find value as more people invest in points and miles.
Nevertheless, she encourages everyone to keep searching for great deals.
Anticipated Card Launches
While 2025 saw a few new credit cards launched, it was predominantly marked by updates to existing products. In contrast, 2026 is likely to highlight significant product launches.
I expect Chase to roll out a highly awaited premium World of Hyatt card, which I’ll be closely monitoring as a Hyatt enthusiast.
Bilt has confirmed major updates to its credit card lineup coinciding with a partnership with Cardless. With plans to launch three new cards, it is likely that Bilt’s offerings will become a major topic in 2026.
Details for the Bilt Mastercard have been independently collected by The Points Guy and not reviewed or provided by the issuer.
Augusta suggests we may finally see Chase introduce a competitor to the Amex Gold, something I’ve long advocated for, given that there’s currently no major contender in that space.
Stricter Welcome Bonus Restrictions
This year, Chase rolled out restrictions for existing and previous cardholders regarding new welcome bonuses for consumer Sapphire and select Ink products. Capital One also tightened its bonus criteria for specific Venture products.
Katie predicts this trend will persist, with issuers likely prioritizing family rules and tailored offers, including potential expansions of current restrictions on Sapphire and Ink welcome bonuses to cobranded cards.
Other issuers may also adopt American Express’s approach of providing varied welcome offers for individual cards rather than fixed incentives.
New Restrictions on Lounge Access
Lounge access remains a cherished credit card perk, but we’ve seen issuers implement new restrictions, such as Capital One’s upcoming changes for its lounges. While frustrating, these adjustments address mounting complaints about wait times and overcrowding.
Katie anticipates further restrictions on lounge access, noting that while it is a favored benefit, users often encounter long lines and overcrowded spaces, detracting from the premium experience. Therefore, she foresees lounge owners focusing on ways to manage access effectively.
AI’s Role in Credit Cards
Stephanie Stevens, associate credit cards writer, believes we will see issuers leverage AI for crafting targeted, dynamic welcome offers for potential cardholders. She also envisions AI being utilized to streamline lounge waitlists and manage congestion.
However, incorporating AI raises crucial security and privacy considerations, especially regarding sensitive financial data. The way issuers utilize these tools will be closely watched.
Conclusion
2026 is set to bring numerous exciting developments, some favorable and others less so. Regardless of what unfolds, one constant remains: Points and miles hold the key to remarkable travel experiences.
We’re here to assist you in making the most of those opportunities, regardless of what next year holds.
