The Auriemma Consulting Group Inc., which provides consulting services to the credit card industry, recently launched CardBeat of America, a weekly survey that monitors consumers' reactions to the ever-changing card business.
Card issuers can subscribe to the new service for either a six-month or one-year period, for $12,000 or $20,000, respectively.
So far, said Michael Auriemma, managing director, more than a dozen clients signed up for the survey, which interviews 100 consumers nationwide each week.
Mr. Auriemma said the program was useful for issuers that don't have the internal ability to get "immediate feedback" from consumers on a daily basis regarding pertinent issues of the market place.
A monthly newsletter reporting results is distributed to subscribers.
Questions cover a wide range of topics - from consumers' understanding debit to the number of direct-mail solicitations received each week to balance transfers.
Issuers can add more specific questions regarding their own products or those of a competitor, but the question list remains stable for each month.
The product resembles others on the market, including Opinion Research Corp.'s Credit Card Caravan and Spagna Dunn Research Inc.'s Payment Method Monitor, which queries consumers on how and why they spend their money and the way they pay, whether it be check, cash or card.