Marketing credit cards: offers you can't refuse.: An article from: Bank Marketing

This digital document is an article from Bank Marketing, published by Bank Marketing Assn. on September 1, 1994. The length of the article is 3099 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Stiff competition in the bank credit card business requires a marketing strategy that will lure a creditworthy consumer away from a rival. One way to do this is to offer low introductory rates for transfer balances. The special interest rate is usually effective from six to 18 months and comes within the range of 7.9% to 8.9%. Another effective technique for attracting holders of competitors' cards is to develop substantial card value by giving consumers an incentive for using a card. Rewards may be goods, interest back feature, purchase rebates and cash. A third approach in gaining a comfortable market share in the credit card enterprise is to create co-branded cards. One fine example of a possible co-branding partner is a local service agency or a community cause. While busily seducing customers away from competitors, banks should not forget their existing customers who may themselves be lured by rivals.

Citation Details
Title: Marketing credit cards: offers you can't refuse.
Author: Katherine Morrall
Publication:Bank Marketing (Magazine/Journal)
Date: September 1, 1994
Publisher: Bank Marketing Assn.
Volume: v26 Issue: n9 Page: p27(4)

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