DALLAS-Who should credit unions be targeting to grow their card portfolios?
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According to Mark Fenner, SVP-national sales manager with TNB Card Services, a less risky and effective means to portfolio growth is focusing efforts on existing members with high FICO scores to gain top-of-wallet card share with a rewards program.
"Rewards are still a major driver for upper-tier members," said Fenner. "We see merchandise rewards as driving additional spend. If you are offering cash back instead, there is no incentive to spend a little more to get something you want."
