Consumers open to financial monogamy
In recent months, consumers have struggled to maintain healthy relationships with their credit card and bank account providers.
However, recent research suggests consumers are open to expanding their relationships with their primary banks and lenders, and 
are comfortable with the idea of holding both a bank account and credit card with a particular financial institution.
More than three quarters of bank customers said the added convenience was enough to sway them to becoming financially monogamous, according to Deloitte's Consumer Lending Survey. Deloitte, which studies the retail banking industry, found that of the survey-takers who reported banking with a single entity, 80 percent of respondents named lower fees as the main reason for wanting only one provider.
The survey also found that customers were generally receptive to new services that encourage loyalty, such as increased credit card rewards, the researcher said. This includes a number of deals that offer cash back, added discounts and other provisions that could help save consumers money. Additionally, it recommended banks increase access across distribution vehicles to appeal to more consumers.
In spite of this consumer sentiment, many report their attitudes towards banks and issuers have remained unchanged in the last two years.
5-7-2012
by Chris Martin
|
4-6-2012
by Dan Seitz
|
12-5-2011
by Neil Hayashi
|
News & Reviews • Latest from our Blog
|
04-06-2012
You’re a vegetarian. Everyone knows this. Yet every Christmas, grandma sends you a gift card to the Wild West Steakhouse or Crispy Chicken Rotisserie. Well, instead of filling another drawer with unwanted presents, you can now turn those gift cards into rewards points. According to MarketWatch, U. S. Bank and Plastic Jungle (an online secured gift card exchange) have partnered to allow FlexPerks Travel Rewards Visa Signature cardholders to swap...
|
|
04-05-2012
The 2012 Election season is about to go high tech: the swarms of cheery interns and fervent volunteers canvassing every neighborhood from sea to shining sea this year will now be able to get your monetary support with the simple swipe of a credit card. Intuit, Inc. recently announced that their popular GoPayment mobile credit card payment system has been revamped to accommodate political fundraising, which means dumping money into the nearest super...
|
|
04-03-2012
Watch out identity theives…there’s a new dynamic duo in town, and they’re out to fight fraud like never before. MarketWatch recently reported that AllClear ID, an award winning tech company specializing in identity theft protection, has partnered with the National Cyber-Forensics and Training Alliance (NCFTA). The NCFTA includes all kinds of good guys fighting the good fight, pulling together everyone from law enforcement to security researchers....
|