Apply For A New Credit Card: Avoid These Cards

Posted by administrator | 11/06/12 | Tagged Credit Card

Apply For A New Credit Card: Avoid These Cards
News from Business Insider:

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Card Loyalty Programs Lag at Credit Unions
News from Credit Union Times:

A white paper published by Card Services for Credit Unions reported that only 50% of credit unions have loyalty or rewards programs attached to the credit or debit cards.

CSCU is the association of credit unions that process card transactions with FIS and actively promotes FIS’ rewards program called ScoreCard. But Bill Lehman, FIS vice president for portfolio consulting, said the white paper was directed at the topic of loyalty rewards and the fact that too many credit unions still do not use them.

“The point of the white paper it to ask credit unions if they are active in this space and, if they are not, tell them they need to become active now,” Lehman explained.

Having a rewards program attached to at least a credit card program is a key way a credit union can protect its card portfolio from having cardholders switch to other cards that  have rewards programs, he added.

“Credit unions must recognize that cardholders are a lot savvier than they used to be and expect more from their rewards programs,” Lehman wrote in the white paper. “In fact, cardholders are much quicker than banks and credit unions to understand what they want from their financial institutions. Consumers will change financial institutions if they are presented with a rewards…………… continues on Credit Union Times

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