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Data for this episode of Truth In Data provided by Mercator Advisory Group’s report – Adding an Old Banking Feature to the Credit Card: The Case for Installment Lending
- 24 x 7 x 365 contact – around the clock support, account Alerts, additional Cards
- ATM access, fraud protections, fast card replacement
- Bill payment, balance transfer, free fico scores
- Introductory pricing, mobile app, loyalty & rewards
- Zero liability, virtual cards, statement retention, travel protection
- Features developed by card issuers are often only unique for a limited time
About the report
Fintech firms like Affirm and Goldman Sachs’ Marcus address a weak spot in credit card lending. Top issuers are going head-to-head to displace point-of-sale installment lending with a new credit card feature, bringing value to cardholders with an option for accelerated payment terms. This is a defensive play to protect an issuer’s portfolio from attrition.