The credit card market remains competitive as ever, and credit unions will need to work hard this year if they want their card offerings to stand out. As for consumers, they are becoming more discerning as to what kinds of features and rewards they want from their card.
A recent report from PYMNTS.com found that 64% of active credit card users look for a minimum of four different features when searching for a new card. For those living with children and those who live paycheck to paycheck, they often take much more into consideration. Among those who live with children, they consider as many as six factors, and 82% of consumers living paycheck to paycheck say safety measures taken are “very” or “extremely” important when determining preferences between different credit cards.
Aside from safety measures, other factors consumers are looking for include tools for improving credit scores and the quality of customer service. Before your credit union launches its next credit card campaign, take these factors into consideration and learn what your members need the most out of a card.