U.S. Bank launched the Split World Mastercard, a credit card that puts every transaction on an installment plan, per a press release.U.S. Bank wants to capitalize on consumer demand for both card-linked installments and BNPL cards. It’s a play specifically for Gen Zers, who tend to gravitate toward installments. These younger consumers can also use the card as a credit-building tool, a sought-after feature. But the Split Card may be a tough sell to prospects.

United Airlines rolled out the MileagePlus Debit Rewards Card in partnership with Sofi-owned Galileo, per a press release. The debit card is issued by Sunrise Banks and runs on the Visa network. United’s debit card may appeal to younger United customers who are early in their financial lives and are skeptical of credit cards. But for others, it may be a tough sell as loyal travelers could instead get the United Gateway credit card, which has no annual fee and stronger rewards.

Ascend Federal Credit Union launched a debit card-linked installment offering through a partnership with equipifi, per a press release. It’s difficult for credit unions like Ascend to compete with the top issuers on credit card programs. They lack the necessary funds and resources to launch expansive credit card rewards offerings. But they have a better chance of competing for customers’ business when it comes to debit cards. Offering perks like card-linked installments can set their programs apart and draw in customers who are looking for more flexible financing options without applying for a new credit card.

Southwest Airlines rolled out a rewards debit card, per a press release. The Southwest Airlines Rapid Rewards Debit Card runs on Visa’s network and is issued by Sunrise Bank in partnership with SoFi-owned Galileo’s card issuing platform. Offering a debit card helps Southwest tie customers closer to its loyalty program. But getting consumers to sign up may be a tough sell. Consumers who don’t have the credit scores or means to pay for a Southwest credit card may balk at parking $2,500 a checking account.

Visa and Mastercard reported strong growth in their most recent earnings. Visa’s net revenues increased 12% YoY in its Q4 2025, per its earnings release. Mastercard’s net revenues grew 17% YoY in Q3, per its earnings release. Lower-income consumers are more sensitive to tariff-induced inflation and other economic events. If lower- and medium-tier cardholders pull back on spending, their premium counterparts who are more insulated from economic pain can keep spending afloat. Issuers are following the same strategy: Citi, Chase, and American Express all launched or revamped premium cards this year.

Delinquencies for both student loans and credit cards could worsen as borrowers contend with more obligations

The personalized rewards offering will help the credit card stand out against other no-annual-fee credit cards

So far, neither network has seen signs of a consumer spending slowdown despite plummeting consumer sentiment

The companies faced mixed results and looming uncertainty as a result of tariffs

The deal received conditional regulatory approval, shaking up the card space and larger financial service industry

Even so, issuers may be slow to lift preemptive APR increases as they brace for economic turbulence

Consumers became more cautious with their spending, a trend that could worsen with Trump’s reciprocal tariffs

Worsening economic conditions will be felt deeply by issuers if the tariffs remain in their current form

Leaning on non-card revenue can help the network maintain its momentum even if shaky economic conditions lead to slower consumer spending

The tie-up can help Affirm’s strategy of building out its debit card to grow its overall payments volume

The large card program is in flux, with both its issuer and network partnerships up for grabs

The platform can help the card program better compete with traditional cards from large issuers

These can fuel more frequent debit card usage, helping these cards better compete against credit card programs

The airline is betting on cardholders believing its new rewards offset the cards’ higher annual fees

Issuers can capitalize on the 46% of users who proactively seek out deals with their cards