Campaigns to help your cardholders after the holiday spending season

Despite another pandemic-impacted holiday shopping season that was accompanied by supply chain challenges, 2021 saw another year of high-volume holiday spending. As we have now reached the time of year when consumers look at the aftermath of their spending over the holidays, higher spending by consumers during this time of year means higher credit card balances – and trying to figure out how to pay off bills.

How can your financial institution help your current and prospective cardholders be financially healthy after their holiday season spending sprees? Campaigns that offer convenience checks and balance transfers are some proven tactics to help cardholders get their finances under control.

What Is the Benefit of a Convenience Check?
Convenience checks offer cardholders access to their line of credit in situations where credit cards are not accepted. A convenience check is a way for people to pay rent or purchase a larger item from an individual or small business that does not accept credit cards. Convenience checks also offer the convenience of quick cash. Cardholders can write themselves a convenience check and cash it to deposit money into their account, just like they would do with a personal check. Out of 82 convenience check campaigns supported by PSCU’s Advisors Plus during a recent ten-month period, which mailed on average to nearly 4000 consumers per campaign, the average favorable response rate was 3.34%, with each responder writing at least one convenience check. Usage of convenience checks is still very popular across all age demographics.


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