[New] THE CONSUMER CARDS REPORT: Everything you need to know...

Fully understand the US consumer credit card market with this report.

The card rewards strategies issuers can use to win top-of-wallet status while maximizing returns… ACCESS FULL REPORT The average US consumer holds about three nonretail credit cards with a balance over $6,000, according to Experian. As confidence rises, spending is hitting prerecession levels. For banks, that should be a good thing, since credit cards are profitable. But the push to attract a particularly interested and engaged customer base through sign-up bonuses and lucrative rewards offerings has led banks into a rat race, with surging expenses and rising delinquencies that are hurting returns. To make credit cards as valuable as they could be, and to bring returns back up, issuers need to direct their efforts not just toward becoming one of consumers' three cards, but also toward becoming their favorite card. Rewards are more important than ever — three of the top four primary card determinants cited by respondents to a Business Insider Intelligence survey were rewards-related — so abandoning them isn't effective. Instead, issuers need to be more resourceful with their rewards offerings, focusing on areas that encourage habit formation, promote high-volume spending, and help to offset some of the rewards costs while building engagement and loyalty. In this report, Business Insider Intelligence sizes the US consumer credit card market, explains why return on assets (ROA) is on the decline, highlights the importance of rewards in attracting customers, and lays out three next-generation rewards strategies that are popular among certain demographics. To drive this analysis, we conducted a survey centered on users' card preferences to over 700 US members of our proprietary panel in May 2018. Among the big picture insights you'll get from this report, titled The Consumer Cards Report: Rewards Strategies Issuers Can Use to Win and Maintain Top-of-Wallet Status While Maximizing Returns: ACCESS FULL REPORT Competition driven by consumer card appetite in the US is hurting issuer returns. Consumer confidence and regulatory policy that favors credit cards should be a boon to issuers. But the competition has surged expenses to unattainable levels and increased delinquencies, which are causing returns to trend down. Consumers still value rewards above all when it comes to cards. Two-thirds of respondents to our survey cited rewards-related offerings as the leading driver of primary card status, but they can be pricey for issuers. Using resources strategically and offering rewards types that encourage high-volume spending and drive engagement through habit formation, like flexible offerings, rewards for e-commerce, and local bonuses, could be the path to success in the future. This exclusive report also: Identifies the factors that are causing high credit appetite to hurt issuer returns Explains the value of top-of-wallet status, and evaluates the factors that drive it based on proprietary consumer data Defines three popular next-generation rewards options that issuers can use to drive up spending and engagement without breaking the bank Issues recommendations about how to offer these rewards and what demographic groups could be most receptive to them And much more. The Consumer Cards Report is how you get the full story. ACCESS FULL REPORT To get your copy of this invaluable guide, choose one of these options: Subscribe and save 92% today when you access the Ultimate Payments Research Bundle. You will gain immediate access to this report and 49 others on some of the most important topics impacting the payments space. SUBSCRIBE AND SAVE 92% » Purchase the report and download it immediately from our research store. BUY THE REPORT » The choice is yours. But however you decide to acquire this report, you've given yourself a powerful advantage in your understanding of the payments landscape. Copyright © 2018 Business Insider, Inc. All rights reserved. Email sent to: ipat39@gmail.com  |   Manage your email preferences   |   Unsubscribe Terms of Service   |   Privacy Policy Business Insider. 150 Fifth Ave, New York, NY 10011