Banks Offer Card Perks Only to Clients

Published on:
12 September 2006 at 10:21 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00003648-banks-offer-card-perks-only-to-clients/

There are some new credit cards on the horizon, an attempt by some banks to remain competitive in a rapidly consolidating industry. USA Today has the story.

The cards are typically only offered to banks’ own customers. However, in a way to remain au courant, banks are seeing some benefits in offering the cards across the board, and not just to consumers with home accounts.

Banks from Wachovia to Commerce Bank to Wells Fargo hope that by issuing cards to existing customers, they’ll get creditworthy consumers who will default less. Even though the cards carry lower fees ? bringing in less penalty income ? loyal customers usually spend more and help expand the banks’ assets. Smaller issuers see the strategy as a way to gain a foothold in the industry.

Banks Offer Card Perks Only to Clients

Unknown Author

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