Increase 4th quarter credit card use

by Third Degree

by. Anne Legg

‘Tis the season of increased credit card usage! Black Friday and Cyber Monday are right around the corner. If you can keep your credit card top-of-wallet during the holiday shopping season, your credit union will benefit from the interchange income that comes along with increased credit card usage.

So how do you make sure your credit union’s credit card product is on your members’ “nice” list? Here are three steps you can take:

1. Identify your highest-potential audiences. Not all credit card holders are created equal. Take the time to figure out which of your member or prospective member profiles represent your credit union’s greatest opportunity, then learn about their credit card usage habits and preferences.

2. Provide an incentive. The holidays are about both giving and receiving. Do your part by identifying incentives you can provide to members who choose your credit card for their holiday spending. It’s also a great time to do something special or out of the ordinary. Get into the festive spirit by creating incentives that are unique, exciting, and that strike a chord with your community.

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