The credit card marketplace is a crowded and competitive landscape. The average U.S. consumer has 3.9 credit cards, and the top 10 issuers own 90 percent of credit cards in the market.¹ And in 2016, issuers delivered more than 5 billion acquisition marketing communications via direct mail or email.
Eight best practices to acquire new credit card customers

Acquisition campaigns are critical for issuers to sustain and grow healthy portfolios. Regional and community issuers have an opportunity to build on their existing customer relationships and offer the right products to meet customer needs by capitalizing on best practices and understanding their customers better. Here are eight best practices for marketing success:
Best Practices | Rationale |
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Always include a balance transfer offer¹ | 74 percent of mail offers sent in 2016 included a balance transfer and/or purchase APR introductory offer² |
Make sure that your balance transfer offer is competitive for the rate and duration, and include a purchase annual percentage rate (APR) to assure competitiveness. |
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Include a “spend and get” offer with the balance transfer¹ |
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Structure “spend and get” offer to focus on the first 60-90 days after account activation¹ | Provides sufficient time to capture spending while creating a sense of urgency |
Ensure the offer is timely and captures seasonal spending | Optimal times are January, May, August and October |
Deliver the marketing message on multiple channels | Direct mail remains the primary acquisition channel but email is used to reinforce message and remind prospects to apply |
Ensure that the application process is seamless and easy | Despite the fact that most solicitations are via direct mail, 68 percent of applicants respond online² |
Keep the marketing message succinct with messaging and visuals that highlight key benefits and competitive differentiators that appeal to that segment |
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Sources
- ¹ Mintel: Credit Card Trends Report 2016.
- ² Mintel Comperemedia U.S. Consumer Credit Card Acquisition Marketing Overview Q2 2016
Note: All best practice recommendations are provided for informational purposes only and should not be relied upon for marketing, legal, regulatory or other advice. Recommendations should be independently evaluated in light of your specific business needs and any applicable laws and regulations. Visa makes no representations about the accuracy or completeness of any best practice or other recommendations and is not responsible for your use of such best practice recommendations, or other information, including errors of any kind, contained in this article.