Credit Card Marketing

One of the most active and arguably, dynamic areas of marketing must be credit card marketing. Just about everyone today carries a credit card, or two, or three!

In fact, I would say that it is so competitive that most people end up carrying many more credit cards then they really need. As a consumer, I groan at the image. But as a marketer, I marvel at the many ingenious ways that credit card marketers have come up with to generate such demand.

Recently, one of the most common lines you hear pitched is the so called 0% Transfer. Heard of that? How it works is this: you get to transfer all of your outstanding credit card balances to one card, and enjoy a 0% period of repayment. This is really clever. It’s a hook to draw you in, and hopefully, you are so happy with the other incentives that you continue to use the card.

One other way you see credit card companies expanding their market is to go after the short term loans market. This is a great tactic, since short term loans are like a year or maybe two years. They again extend a 0% loan of sorts to you and you sign up to their credit card. This works really well for all parties, since you usually get like 3 – 6 months or more of interest free repayments, which really adds up in terms of savings. On top of that, you get the benefit of having a credit card.

While it may be true that there are lots of clever marketing ploys to get us to sign up for more credit cards, I must say, they are certainly effective. The bulge in my wallet caused my excessive number of credit cards attests to that!

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[tags]credit card, loans, personal loans[/tags]


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