Credit cards in the US have been one of the highest margin products for banks, averaging 3%-4% Return on Assets (ROA). Credit card issuing banks earn income from Interchange, Interest, and Fees. Yet, most US banks do not have the technology or the expertise to effectively participate in the high margin credit card issuing for their customers. Most banks are missing out on one of the best performing financial assets by referring their relationship customers away to an agent bank for a credit card.
By executing 5 simple steps, US banks have an opportunity to participate in the high margin credit card issuing business which most are missing today.
- Understand the Credit Card Issuing Opportunity
- Leverage Business Relationship Customers
- Find a Credit Card Program that your Bank Owns
- Focus on Commercial Credit Cards
- Promote a Sales Culture for Credit Cards
Download this white paper to learn how to follow these 5 steps so you can launch your own credit card program in 120 days.