Loading...

Balance transfers: a profitable opportunity

Published: October 17, 2014 by Carrie Janot

Card-to-card balance transfers represent a substantial profit opportunity for lenders. According to recent Experian estimates, balance-transfer activity currently is in the range of $35 billion to $40 billion annually, with most of the debt concentrated in the prime segment.

With banks increasingly focused on attracting customers through enticing balance-transfer offers, it is critical for lenders to utilize advanced analytics to identify and retain customers in their own portfolio who may transfer their balances to another bank.

Discover key steps to developing a profitable bankcard campaign

Source: Battling for Balances: Targeting the Lucrative Card-to-Card Consumer Balance-Transfer Market

Related Posts

Market trends and insight from Q1 2018. The economy remains steady as we transition from 2017. Keep an eye on inflation and interest rates.

Published: June 7, 2018 by Guest Contributor

Holiday spend for 2017 was healthy, translating into big business for credit card portfolios. But how do card companies keep the business in 2018?

Published: January 16, 2018 by Kerry Rivera

Experian took a deep dive into the data and performance surrounding the credit union universe in their first-ever “State of Credit Unions” report, featuring insights utilizing data from both 2015 and 2017.

Published: June 8, 2017 by Kerry Rivera