Most adults in the western world have owned or used credit cards at one point or another. And with some 2.8 billion of them estimated to be in circulation around the world, it’s fair to say that there are many tried-and-tested options available. Furthermore, most of these cards have operated similarly and served similar purposes throughout the market’s history. More recently though, we’ve begun to see much more variety.
As the tech review platform CNET notes in a look at the history of the credit card, credit cards are “always evolving,” and bigger changes have occurred in the last 10 or 12 years. The advent of chip payments and mobile wallets have changed perceptions of what’s possible with a credit card, and will ultimately be at the foundation of further changes ahead.
Considering all of this, and the ever-evolving state of the credit card market, we thought we’d take a look at some of the trendiest and most innovative options today (outside of your standard, everyday recommendations).
Nexo Mastercard
For those cryptocurrency enthusiasts who would like the chance to tap into their crypto storage with the convenience of a credit card, the Nexo Mastercard is a first-of-its-kind option with a crypto-backed credit line. Specifically, Nexo has partnered with Mastercard and DiPocket to offer the crypto credit card across Europe, and as highlighted in a Crypto Briefing overview of the card, the service will work with multiple crypto assets –– including Bitoin, Tether, and Ethereum. The Nexo card will also integrate with Apple Pay and Google Pay, and will itself be available in both virtual and physical form. In order to use the card, however, you will have to be a borrower on the Nexo platform –– such that you can borrow and use fiat currency through your card, with your crypto as collateral.
Aspiration Zero
Aspiration Zero is a carbon-neutral credit card that has been launched by the fintech company Aspiration (originally established in 2013). Working with several reforestation partners, Aspiration has set the card up such that for every purchase you make, one tree is planted, and you reach “carbon neutral” status once you reach 60 trees per month or 720 trees per year (which offsets around 15 tons of CO2). The card also comes with an accompanying app through which you can track your progress –– which, incidentally, also leads to cashback and bonus rewards like you would expect with other credit cards. Finally, as a point of interest, Aspiration has also pledged not to use deposits to fund fossil fuels, and has a stated mission to plant 125 million trees by 2030.
Apple Credit Card
The Apple credit card has been around for a few years now, but still represents a unique and appealing option to a lot of people. As the AskMoney financial review platform explained in a thorough write-up on the card, it was actually designed “for Apple Pay” –– which is to say it’s meant to serve as the primary source of funds backing Apple users’ digital transactions. However, it also functions like a traditional credit card, using Goldman Sachs as its issuing bank to optimize transactions. It also has specific perks for those who shop at Apple regularly, such as 3% daily cashback for all Apple Store purchases (and 2% for all purchases in general). It’s also one of the easiest cards out there to apply for: A five-minute process through the Apple Wallet can get the job done, and if you don’t qualify, the Path to Apple Card program will help you improve your credit score.
Citi Custom Cash Card
Lots of credit cards out there offer rewards and cashback options. However, the Citi Custom Cash Card actually allows you to choose what benefits are suitable to you. There are 10 eligible spending categories including restaurants, home improvement stores, and live entertainment, and 5% cashback is offered on your top eligible spending category. The card also offers a 0% APR introductory fee (making it suitable for balance transfers), with no annual fee and a redeemable points system. It’s a very intriguing card for those who want to maximize their cashback and rewards, though it’s prudent to look over your spending habits before you apply, so that you can ensure you’ll earn the most possible rewards based on your activity.
We know there are a ton of standard credit card options out there, but we hope you found these slightly trendier and more innovative options to be of interest! Please visit Free Holiday Wi-Fi again soon for more content on finance and more.
