Why Members Choose A Credit Card Continued... Page 2
The best strategy to capture member credit card business is to monitor your competitors' offers, reward members for switching, educate your members about your card features, and offer highly competitive balance transfer rates. How often you promote your program is also critical. Research shows it pays to regularly promote your card online, in your newsletter, and with email and direct mail promotions.
Sources: The Credit Card Industry Report and Why Do Banks Reward their Customers to Use their Credit Cards by Sumit Agarwal, Sujit Chakravorti, and Anna Lunn.