Generating high quality new accounts has always been the key to keeping a credit card portfolio healthy and profitable. Accounts leave for a variety of reasons, and without replacement accounts a credit card portfolio will decline in size, importance and credit quality. To ensure that a credit card portfolio doesn’t end up in “slow decline” born of neglect and lack of investment, credit card issuers need to make sure they use every available channel available to them.

SMALL ISSUER ADVANTAGES
Community focused financial institutions need to maximize the value that they bring to their potential credit card customers. It has been long established that the national credit card issuers will have scale and skill advantages that cannot be met head-on. So, what does the community-minded institution bring to the equation that their national competitors cannot? Relationships, relationships and, more relationships. For a smaller issuer to compete it needs to manage these relationships and attract interest in its credit card product.

CHANNEL #1: DIRECT MAIL
Let’s face it, getting another credit card offer in your mailbox is about as interesting as attending an accounting convention...

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