In the past year, many Americans sought to compare credit card offers and sent in applications, only to find themselves shut out from the payment system.
However, with the economic recovery just beginning, credit card companies are looking to the new year as a time for re-evaluating past strategies to draw in and keep more customers. Many issuers have their eye on the next big innovation as they realize what works today may not be the best strategy to pursue tomorrow.
Andrew Davidson, Mintel Comperemedia senior vice president, outlined what he expects to be the dominating credit card trends of 2011 in his recent webinar, “Credit Card Stratgey: A New Era for Loyalty Marketing,” industry news source Convenience Store News reports. In this discussion, he highlighted a shifting landscape, fierce competition and the need to build customer relationships.
Davidson expects rewards cards to be one of the largest growth sectors for issuers. Read more…
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