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Banking and Cards Research
Digging into the Customer Experience: Banking and Credit Cards
Corporate Insight’s Bank Monitor, Credit Card Monitor and Small Business Card Monitor provide ongoing coverage of the products, websites and overall customer experience offered by the nation’s leading banks and card issuers. Our value-added banking and credit card research digs deeply to evaluate the retail and small business customer experience.
|Gas Reward Cards|
This Credit Card Monitor Report looks at card products that solely offer gas-based rewards. Coming in two iterations – co-branded cards with accelerated earnings at one retailer and universal cards offering bonus earnings at any gas station – these cards can both generate impressive rewards for consumers, attract new clients and create new spending for card issuers.
As we compared the various options available to prospective card members, we focused on the following card features:
Somewhat surprisingly, only 33% of firms we track are currently offering gas-based credit cards, with only two issuers providing universal cards. Virtually all of the cards offer self-contained rewards programs, which describe their earnings in terms of percentage cash back or percentage returns. Only four of the 21 cards looked at offer earnings in terms of “points.” While three of the issuers offer ongoing rewards on all of their cards, the fourth, which offers co-branded cards from some of the largest American oil companies, provides rewards programs for only two of its four cards, and even those expire after an initial period of a few months – an obvious drawback for prospective clients.
Segment: Credit Cards