Premium Credit Cards - US - November 2011
Prospects for premium credit cards look more positive than they have in many years. The surge in borrower defaults has dropped sharply, increasing issuer profitability. New government limits on debit card swipe fees make credit cards much more attractive for consumers to use. As a result, competition in the market is as fierce as it has ever been. Card issuers have pulled out all the stops on rewards, cash bonuses and interest-free borrowing offers.
This study is a comprehensive update of the U.S. premium credit card business, with a particular spotlight on the competitive landscape, consumer behaviors and attitudes, the regulatory and legislative environment, profitability drivers, and current marketing strategies. For the purposes of this report, premium credit cards are defined as cards primarily targeting higher income consumers with good or better credit risk scores.
What you need to know:
- Why is competition so fierce in the credit card industry today?
- What are the primary factors driving profitability, and what does the future hold?
- How are recently enacted legislative and regulatory restrictions likely to affect consumer payment behavior?
- Are American consumers ready to start spending and borrowing on credit cards again?
- This report builds on the analysis and information presented in several previous Mintel studies, including Credit and Debit Cards - US – July 2011, Mass Affluent and Credit Cards - US - February 2009, Credit Cards - US - November 2008 and Credit Cards: Loyalty and Retention - US - November 2007
What you get
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