Every Tuesday, Corporate Insight releases recommendations to help financial services firms improve a key aspect of the online user experience. Recommendations are taken directly from our Monitor Reports and Consulting Services research, which cover the banking, brokerage, credit card, asset management and insurance industries.
This week’s recommendations come from our Credit Card Monitor report titled Credit Card Product Pages: Card Details on the Public Site and focus on ways credit card issuers can improve the credit card product information they offer prospects online:
Use a single product page template for all cards – Leading firms use a singular card product template to provide details to prospects and existing card holders. Using a single look for product pages helps enable site visitors to easily compare products, and gives the site a unified feeling. The best firms, such as Chase, utilize embedded tabs or expandable sections to provide information in a way that is easy to understand and navigate, without being bombarded with account details or having the need to scroll extensively to read all product attributes.
Include concrete redemption information & examples with rewards-earning details – While many card product pages offer extensive information on point-earning capabilities within associated rewards programs, very few include specific examples of redemption options. More firms should include at least a few rewards items and their redemption value, to help give prospects a look at what their new card offers. Many issuers do a good job of explaining redemption mechanisms for cash back cards. While this is perhaps understandable due to the more straightforward nature of these cards, firms should nonetheless add more information about redemption options and mechanisms for all of the rewards programs to card product pages.
Offer complete Terms & Conditions directly on product page – Three issuers embed complete Terms and Conditions within their card product pages, with U.S. Bank, Chase and Capital One all offering this benefit for at least some of their product pages. Capital One does the best job of offering this important resource, offering the Ts & Cs for all of its cards in the Rates & Disclosures tab offered within each card product page.
Clearly delineate and mark product page sections to make information more easily accessible – Issuers need to ensure that whatever page design they use for their card products, the various sections are consistently and clearly named. Using consistent naming with embedded tabs or expandable sections helps users know what information to expect from different sections of the product page when flipping between card options, while well-named and demarcated areas of even traditional, no-frills product pages can help make the information provided by firms easier to digest.
Provide card details beyond rates, fees and rewards – Card applicants often care about more aspects of a new card than the APR and rewards. Thus, more firms should offer details about card attributes outside of these two classic card features. U.S. Bank and American Express each do a nice job of this, offering extensive lists of non-rewards features attached to their cards. While U.S. Bank relies largely on bulleted information within the Benefits tab of its in-house card products’ pages to offer these details, AmEx uses a number of different embedded tabs to provide detail about its card products. AmEx places these tabs below the fold on their card product pages, hiding them somewhat from view, but once located by prospects, these embedded sections can help fill out in a users’ mind what a new card would offer.