Expectations for credit card rewards have become ubiquitous across the credit score spectrum, generations, and with both consumer and business cardmembers. As issuers fight for loyalty amongst tough competition, increasing costs, and evolving regulations, offering a robust, flexible, and seamless rewards program is imperative.
More than 40% of consumers identify rewards as the top motive for seeking a new credit card. However, the direct operational cost of a rewards product is higher on a per-balance basis than any other loan product. Most of these costs are attributed to cardmember acquisition and administrative expenses, whether in-house or through a third-party vendor.
Read what influences consumer decisions, preferred rewards, and how your credit union’s reward cards can reach optimal performance and top-of-wallet status. Complete the form to access the full whitepaper now!
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