The Power of Reaching Credit Card Holders

The ability to reach credit card holders is an extremely effective tool. According to Gallup and The Federal Reserve, Americans have an average of 2.6 credit cards, and 56% of credit cards are actively used on a monthly basis. The amount of spending power is huge, and more likely to be put to use when a consumer has the comfort of having a line of credit.

Credit card activation and use is on the rise, with more technological advances such as Apple Pay, online and mobile banking, it has never been easier for credit card users to manage their transactions and payments. The Federal Reserve states that in 2013, 17% of smartphone owners had made a mobile credit card purchase, up from only 6% in 2012.

Whether your business is offering new credit cards, credit incentives, or products and services, reaching credit card holding consumers can help grow your business immensely.

These consumers not only have spending power, they have a credit score they are constantly trying to uphold and improve. With this said, they have long-term purchasing power, using credit cards for the small things in life, as well as the big things- such as emergencies and major life events.

Determining whether it is more effective to reach credit card holders with bank cards, retail cards, or both can dramatically help narrow down your target marketing. It allows you to identify what kind of shopping habits and consumer behaviors these card holders posses, and how it relates to your business.

Card holders also value incentives. Bank cards offer rewards in the form of travel miles, cash back, and score improvement, while retail cards offer rewards such as points, exclusive offers, sales, and discounts. Consumers are more prone to use a card that offers some sort of value that justifies their purchases.

Start reaching consumers with bank cards, retail cards, and spending power to help grow and improve your business with long-term results.

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