Opinion Research Corp. has introduced a survey designed to give credit card companies information on consumer habits and trends.
Credit Card Caravan is a quarterly survey of 1,200 adult credit card holders nationwide.
"Clients use it to track the credit card market and identify trends in the market" said Jeffrey T. Resnick, senior vice president and director of Opinion Research.
For $1,200 per question, companies can submit three to five questions that the Caravan will pose in the survey. As part of the standard tabulation, results are reported by question, broken down into key demographic and financial indicators.
Mr. Resnick said the Credit Card Caravan can be used by banks and retailers when they try to design products and services linked to credit cards.
Card executives can use the data to determine what features consumer would like to see added to their cards, consumer awareness of the card, whether they carry a balance each month, and whether they're using their cards in new places, such as grocery stores.
Mr. Resnick said the survey, which was piloted in early October, has generated quite a bit of interest." Opinion Research will begin marketing the product in earnest next month.
The Credit Card Caravan is an offshoot of Caravan, a 35-year-old general consumer survey. It interviews 1,000 adults each weekend and is used by a broad base of clients, including advertising agencies, public relations firms, and general products companies.