How does a right credit card find you when you look for the right credit card?


The Right Credit Card


In fact, before you look for the right credit card, the issuer has sought specific population through market research. Find out what you and your population need, and then develop the product.


Make an acceptable price for you. I bet that you receive credit card offers in the mail almost every day. And then check, there is no attraction, thrown into the trash. If one is attractive, submit an application.


Market research is the main way to understand people’s preferences and needs. The products should have the features which you need, such as emergency cash wire service, lower interest, etc.


It depends on you care most about. Although interest is the issuer’s main source of income (nearly 80%), this means that people pay a large amount of interest to the issuer per year.


But interestingly, annual fees are the most sensitive factor when people choose a credit card. Are you? Issuers also eliminate annual fees to attract people. In 1994, only 40% of credit cards charged for annual fees, which is now lower.


Credit card business is one of the bank’s most profitable businesses.  They spend a lot of money on promoting each year. The average cost of customer acquisition has reached $100 in 2000.


Today, credit card ads are omnipresent, sending credit card applications to your home, advertising on websites you visit regularly, and so forth. The relevance of Google advertising is high, the right credit card will find you.


Of course, after you become a cardholder, the issuer will try to retain you. The annual churn rates are usually 20 percent. The cost to acquire a new customer is expensive. To this end, issuers offer a variety of benefits, such as bonus miles, cash back, etc.. In addition, rational consumption.


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How does a right credit card find you when you look for the right credit card?

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