Abstract
Overview
The card issuing industry is becoming increasingly competitive and
commoditized, with current economic conditions driving issuers to implement
more stringent controls surrounding lines of credit, and product
differentiation opportunities becoming negligible. Cardholder acquisition and
the overall growth in the portfolio, however, remain the lifeblood of the
business.
This report, utilizing Javelin quantitative consumer data and analysis,
provides insight into consumer preferences for selecting card issuers and also
choosing a card for payment transactions. Specific attention is paid to six
prominent issuers-American Express, Bank of America, Capital One, Chase, Citi
and Discover. They provide case studies for the issuer community as a whole
and reflect sufficient breadth to represent cardholder satisfaction levels for
various features. Readers of this report responsible for card product
development, marketing, and rewards program management can utilize the
information and analysis to enhance cardholder acquisition, increase loyalty
among existing cardholders, and drive usage for their card products.
Primary Questions
- What card features resonate with cardholders in selecting an issuer?
- How can issuers alter acquisition strategy to more effectively cater to
cardholder desires?
- What drives consumers to use a particular card for purchases?
- How can issuers retain existing cardholders based on various card features?
- How can issuers target cardholders for more effective and profitable
relationships?
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