Are No-Frills Credit Cards Making a Comeback?

Post on April 05, 2012

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Going back to basics might be appealing to many consumers, says Doug Miller, senior analyst for banking and cards with Corporate Insight. Maybe they’ve gotten burned by credit cards in the past, or they maybe haven’t found reward cards to be as lucrative as they had hoped.

When it comes to no-frills cards, issuers aren’t targeting premium consumers, but those who tend to carry over balances month to month — and who care more about low rates than rewards. So no-frills cards are often a good fit consumers who are worried about their debt loads and who have seen their annual percentage rates (APRs) rise the past few years, Miller says.

 

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