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The banking sector is coming out of its winter hibernation. Experts have already noticed several trends that should deepen or speed up during the remainder of 2011. Low-interest credit card rates are falling and promotional offers like balance transfer arrangements are increasing.

Those who have good credit are being rewarded by banks attempting to encourage spending.

Even rewards credit cards are looking more attractive, releasing deals that have not been witnessed in years. Individuals with poor credit are not experiencing as much joy, facing higher interest rates. Thanks to the Credit CARD Act of 2009, card issuers can no longer change interest rates when the risk profile of a customer changes.

They are also limited in charging overdraft fees. This has led them to charge higher rates initially.

Some banks are even charging a flat fee to people with poor credit records. Costs for things like free checking, which was never really free, are now being spread over a larger customer base. Services that used to be free, like teller assistance and paper statements, now carry a charge.

Consumers with bad credit must now pay $59 annually for a Bank of America credit card.

Those with good credit are facing less lucrative reward debit card programs. Some banks now charge monthly or annual fees for their programs, while others eliminated them. Free checking and rewards checking may exist in the future but will likely not be available in the same account.

Through the creation of mobile apps, banks have delivered additional convenience to customers. Citibank is preparing its 2G cards that include a smart chip rather than a magnetic strip. Both MasterCard and Visa are creating systems that enable customers to use only a smartphone to pay for purchases.

Technology like this is designed to save customers and banks money and more of it will be released in 2011.