Discover Looks for Designers Among Users

Bank Technology News | February, 2010

There are various ways in which card companies are using new technology to place more control into the hands of consumers, and Discover’s new play enables customers to select terms, choose reward preferences and play a role in card design by using an online tool.

By accessing CardBuilder, consumers select from a list of options that best describes their credit standing, as well as how they plan to mange their balance. This information is used to identify the best offer for the particular applicant.

Users then select an option from a series of CardBuilder customization offerings. Consumers are guided by options to select what’s most important to them, and also have the flexibility to customize introductory purchase APR, purchase APR or balance transfer APR. There’s also a choice of rewards programs, and the ability to pick a plastic design from among 28 options.

In a statement, Anas Osman, vp of acquisition at Discover, said “We understand that people use credit in different ways and are seeking flexible options that allow them to choose features that are most relevant to them.”

Adil Moussa, an analyst for Aite Group, says Discover has improved its merchant acceptance reach in recent years, and is now looking to forge an interactive relationship with card users.

“When a consumer is more engaged in the process, he or she will be more apt to not only adopt the card, but use it more frequently,” Moussa says, adding similar card products on the market that give cardholders input on design include Capital One’s card lab. And MasterCard’s inControl is another attempt to use spend controls as a means to give consumers input on card parameters.

“Issuers want people to feel that the card’s not being imposed on them,” Moussa says.