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Credit Card eZine - News and Articles about Credit Cards

Credit Card eZine - News and Articles about Credit Cards

Get even more information on credit cards? Read our Credit Card eZine. The section is regularly updated by our specialists. Learn all the financial tricks. Know the pitfalls and hidden bonuses. Find out how to transfer balances and accumulate points. We will tell you about the latest offers on the market.Get your credit card education and make the most out of your plastic.

Strategies to lure new customers used by credit card lenders

2011-02-09

The credit card industry is highly competitive today with a number of players in the market looking to increase their customer base, and is leveraging various strategies to make sure they get new customers. To add to their concerns, the credit card reform act, which has recently come into existence, has limited a lot in terms of revenues for them. Hence, the banks are bending over backwards to increase their customer database to make up for the loss in revenue. This, to a certain extent, works in the favor of customers, especially the ones who have a good credit score to back them up.

Banks are willing to offer favorable interest rates to these customers, in order to ensure they sign up with them. Customers with a poor score can also benefit from the promotional offers being rolled out by the banks. One of the favorite strategies adopted by the banks is the interest free offer which enables the customers to make purchases on the card or opt for balance transfer without having to pay any interest. Though, this offer is only for a limited period, customers stand to gain, and save significantly if they use this offer wisely.

Offering cash back on purchases made, is another strategy that most banks are willing to adopt. This ensures customers don’t think twice about paying for purchases with their cards, and then get some cash credited back to their account. Offering travel rewards and hotel discounts are some of the other strategies that seem to be working in the favor of credit card lenders.

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[Sunday, December 18, 2011]
Chase Bank recently announced the redesign of its Visa credit cards - allowing more space on the front for the Chase logo. This new design is in trial mode currently but Visa has pans to roll out its new design to other financial institutions in order to increase the branding and logo visibility of the individual issuing banks.
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[Friday, October 28, 2011]
Debit and credit: they`re both plastic, why not consolidate them? The Cinncinati-based Fifth Third Bank, is the first to offer the DuoMasterCard which consolidates both a checking and a credit card account into one card.
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[Wednesday, September 21, 2011]
It really pays when you do the right thing. Take credit cards for instance, having a clean credit profile really does help. Those who managed to maintain a squeaky clean credit report during the recession can now jump with joy, as they will get some of the best deals from credit card issuers.
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