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Credit Card Product Update - 2017 Year in Review

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This slide deck examines new product releases from 11 credit card carriers in the Credit Card Monitor coverage group over the course of 2017. We highlight basic fee information, rewards criteria and specific standout features unique to each card and include a chart showing what firms feature which digital payment services for their product offerings.

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Credit Card Product Update - 2017 Year in Review

  1. 1. Credit Card Product Update 2017 Year in Review Meredith Barthold
  2. 2. Table of Contents ▪ Introduction ▪ New Credit Cards ▪ Digital Payment Services ▪ Removed Cards ▪ About Us
  3. 3. Introduction
  4. 4. Background ▪ This slide deck examines new product releases from 11 credit card carriers in the Credit Card Monitor coverage group over the course of 2017 ▪ We highlight basic fee information, rewards criteria and specific standout features unique to each card and include a chart showing what firms feature which digital payment services for their product offerings
  5. 5. Firms Covered ▪ American Express ▪ Bank of America ▪ Barclaycard US ▪ Capital One ▪ Chase ▪ Citicards ▪ Discover ▪ PNC ▪ U.S. Bank ▪ USAA ▪ Wells Fargo
  6. 6. New Credit Cards
  7. 7. Credit Card Product Releases ▪ Firms within the coverage group launched a total of 17 new cards in 2017 that are currently promoted online -All cards in this slide deck have a focus on rewards, with each credit card product released this year providing users the ability to earn points, miles and cash back -Two cards carry special eligibility requirements -Two fewer new cards released in 2017 than in 2016
  8. 8. American Express ▪ 2 miles per $1 on Delta and restaurant purchases ▪ 1 mile per $1 on all other purchases ▪ 16.99% to 25.99% purchase and balance transfer APR ▪ No annual fee ▪ 10,000 bonus miles after spending $500 in first three months ▪ 20% statement credit on all Delta in-flight purchases ▪ Standout feature: accelerated Delta earnings with no annual fee ▪ Introduced: September 2017; rates and fees as of December 2017 Blue Delta SkyMiles
  9. 9. Bank of America ▪ 2 points per $1 on travel and dining purchases ▪ 1.5 points per $1 on all other purchases ▪ 16.99% to 23.99% purchase and balance transfer APR ▪ $95 annual fee ▪ 50,000 bonus miles after spending $3,000 in first 90 days ▪ $100 annual credit toward airline fees and in-flight services ▪ $100 in statement credits toward TSA Precheck or Global Entry application fees every four years ▪ No foreign transaction fees ▪ Standout feature: first premium card from Bank of America ▪ Introduced: September 2017; rates and fees as of December 2017 Premium Rewards
  10. 10. Barclaycard US ▪ 2 miles per $1 on American Airlines purchases ▪ 1 mile per $1 on all other purchases ▪ 0% APR on balance transfers for 15 months ▪ 16.99%, 20.99% or 25.99% purchase and balance transfer APR thereafter ▪ $95 annual fee ▪ No foreign transaction fees ▪ 60,000 bonus points after making a purchase in first 90 days ▪ 10% of redeemed miles back up to 10,000 miles per year, free first checked bag ▪ $3,000 Elite Qualifying Dollars after spending $25,000 annually ▪ Standout feature: accelerated American Airlines earnings ▪ Introduced: January 2017; rates and fees as of December 2017 AAdvantage Aviator Red
  11. 11. Barclaycard US ▪ 4% cash back on restaurant, takeout and bar purchases, including UberEATS ▪ 3% cash back on travel purchases ▪ 2% cash back on online purchases including Uber rides and streaming services ▪ 1% cash back on all other purchases ▪ 15.99%, 21.74% or 24.74% purchase and balance transfer APR ▪ No annual fee ▪ No foreign transaction fees ▪ $100 cash back after spending $500 in first 90 days ▪ $50 annual credit for online subscription services after spending $5,000 each year ▪ Up to $600 in mobile phone protection after using card to pay monthly phone bill ▪ Standout feature: accelerated earnings in unique categories such as online subscriptions ▪ Introduced: November 2017; rates and fees as of December 2017 Uber Visa
  12. 12. Capital One ▪ 3% cash back on dining ▪ 2% cash back on groceries ▪ 1% cash back on all other purchases ▪ 0% introductory APR on purchases and balance transfers for nine months ▪ 15.49%, 20.49% or 24.49% purchase and balance transfer APR thereafter ▪ No annual fee ▪ No foreign transaction fees ▪ $150 cashback bonus after spending $500 in the first three months ▪ Standout feature: 3% cash back on dining ▪ Re-released with new name: October 2017, replacing the Premier Dining Rewards card; rates and fees as of December 2017 Savor Dining Rewards
  13. 13. Chase ▪ 5% cash back at Amazon.com ▪ 2% cash back at restaurants, gas stations and drug stores ▪ 1% cash back on all other purchases ▪ 15.24% to 23.24% purchase and balance transfer APR ▪ No annual fee (with paid Amazon Prime membership) ▪ No foreign transaction fees ▪ $70 Amazon.com gift card upon credit card application approval ▪ Standout feature: 5% cash back at Amazon.com ▪ Introduced: February 2017; rates and fees as of December 2017 Amazon Rewards with Prime Membership
  14. 14. Chase ▪ 2 points per $1 on Southwest Airlines purchases ▪ 1 point per $1 on all other purchases ▪ 16.99% to 23.99% purchase and balance transfer APR ▪ $69 annual fee ▪ 40,000 bonus points after spending $1,000 in the first three months ▪ 3,000 bonus points for card member anniversary ▪ Standout feature: card member anniversary bonus offer ▪ Introduced: February 2017; rates and fees as of December 2017 Southwest Rapid Rewards Plus
  15. 15. Chase ▪ 2 points per $1 on Southwest Airlines purchases ▪ 1 point per $1 on all other purchases ▪ 16.99% to 23.99% purchase and balance transfer APR ▪ $99 annual fee ▪ 40,000 bonus points after spending $1,000 in the first three months ▪ 6,000 bonus points for card member anniversary ▪ Standout feature: card member anniversary bonus offer ▪ Introduced: September 2017; rates and fees as of December 2017 Southwest Rapid Rewards Premier
  16. 16. Chase ▪ 2% in TravelBank cash per $1 on United purchases ▪ 1.5% in TravelBank cash per $1 on all other purchases ▪ 16.99% to 23.99% purchase and balance transfer APR ▪ No annual fee ▪ No foreign transaction fees ▪ 25% TravelBank statement credit for in-flight food and beverage purchases ▪ Standout feature: accelerated United earnings with no annual fee ▪ Introduced: September 2017; rates and fees as of December 2017 United TravelBank
  17. 17. PNC Bank ▪ 4% cash back on gas station purchases ▪ 3% cash back on dining purchases ▪ 2% cash back on grocery store purchases ▪ 1% cash back on all other purchases ▪ 0% introductory APR on balance transfers for 12 months ▪ 14.24% to 24.24% purchase and balance transfer APR thereafter ▪ No annual fee ▪ Standout feature: 4% cash back on all gas station purchases ▪ Introduced: July 2017; rates and fees as of December 2017 Cash Rewards
  18. 18. U.S. Bank ▪ 3 points per $1 on travel and mobile wallet purchases ▪ 1 point per $1 on all other purchases ▪ 16.99% purchase and balance transfer APR ▪ $400 annual fee, available exclusively to U.S. Bank customers ▪ No foreign transaction fees ▪ 50,000 bonus points after spending $4,500 in the first 90 days ▪ Up to $325 annual travel credit ▪ Standout feature: 50,000 bonus point initial spend offer ▪ Introduced: May 2017; rates and fees as of December 2017 Altitude Reserve
  19. 19. U.S. Bank ▪ 3 points per $1 on Kroger family of brands ▪ 2 points per $1 at Kroger Family of Companies ▪ 1 point per $1 on all other purchases ▪ 13.24% to 25.24% purchase and balance transfer APR ▪ No annual fee ▪ Extra $0.25 off per gallon when redeeming 100 fuel rewards points at Kroger fuel centers for one year ▪ $5 certificate for every 1,000 points earned, redeemable at Kroger family stores ▪ Standout feature: one-year introductory gas discount ▪ Re-issued as six individual Mastercards: December 2017 (1-2-3 Rewards Visa reported as removed in December 2017); rates and fees as of December 2017 Dillons, Fry’s, King Soopers, Kroger, QFC and Smith’s Rewards Mastercards
  20. 20. U.S. Bank ▪ 2 points per $1 at Fred Meyer stores ▪ 1 point per $1 on all other purchases ▪ 0% introductory APR on purchases and balance transfers for nine months ▪ 13.24% to 25.24% purchase and balance transfer APR thereafter ▪ No annual fee ▪ Up to $1.25 off per gallon when redeeming 1,000 fuel rewards points at Fred Meyer fuel centers for one year ▪ $5 certificate for every 500 points earned, redeemable at Fred Meyer stores ▪ Standout feature: one-year introductory gas discount ▪ Re-issued as a World Mastercard product: December 2017; rates and fees as of December 2017 Fred Meyer Rewards World Mastercard
  21. 21. U.S. Bank ▪ 3 points per $1 on Ralphs store brand products ▪ 2 points per $1 at Ralphs stores ▪ 1 point per $1 on all other purchases ▪ 13.24% to 25.24% purchase and balance transfer APR ▪ No annual fee ▪ $50 statement credit after making first purchase ▪ $5 certificate for every 1,000 points earned, redeemable at Ralphs grocery stores ▪ Standout feature: $50 statement credit ▪ Re-issued as a World Mastercard product: December 2017; rates and fees as of December 2017 Ralphs Rewards World Mastercard
  22. 22. Digital Payment Services
  23. 23. Mobile Wallet Summary Firm Android Pay Apple Pay Microsoft Wallet Samsung Pay American Express ✓ ✓ ✓ Bank of America ✓ ✓ ✓ ✓ Barclaycard US ✓ Capital One ✓ ✓ ✓ Chase ✓ ✓ Coming Soon ✓ Citicards ✓ ✓ ✓ Discover ✓ ✓ ✓ PNC Bank ✓ ✓ ✓ ✓ U.S. Bank ✓ ✓ ✓ ✓ USAA ✓ ✓ ✓ Wells Fargo ✓ ✓ ✓
  24. 24. Removed Cards
  25. 25. Removed Cards Summary Firm Cards American Express Gold Card Plenti Card Bank of America BankAmericard Better Balance Rewards Bass Pro Shops Outdoor Rewards Card Barclaycard US Arrival World Mastercard Commence Mastercard by Sallie Mae Barclaycard Ring Mastercard CashForward World Mastercard L.L.Bean Visa Card Capital One Premier Dining Rewards Card Citicards Hilton HHonors Reserve Card Hilton HHonors Visa Signature Card Firm Cards U.S. Bank U.S. Bank College Visa Card Perks+ Visa Signature Card USAA Cash Rewards Visa Signature Card Cashback Rewards American Express Card USAA Classic American Express Card USAA Classic Visa Platinum Card Limitless Cashback Rewards Visa Signature Card Wells Fargo Home Rebate Visa Signature Card Home Rebate Visa Card
  26. 26. About Us
  27. 27. Credit Card Monitor ▪ Credit Card Monitor (CCM) was launched in 2001 and focuses on the online user experience that leading credit card issuers provide card holders and prospects ▪ Using actual accounts, CCM gives a firsthand look at current online capabilities including client account information, transaction resources, interactive tools, customer service and account documents ▪ CCM follows the card products and services offered by competitors across the credit card industry, providing an up-close view of what other firms are doing to attract new clients
  28. 28. Contact Us Meredith Barthold Senior Analyst – Banking and Credit Cards (646) 929-5151 mbarthold@corporateinsight.com

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