NEW YORK— Is your credit union planning a big card promotion for 2022? Most consumers look for a minimum of four different features when deciding which credit cards they should sign up for, but some consider as many as six, according to a new study.
Consumers living paycheck to paycheck who struggle to pay their bills, as well as those living with children are the most demanding when it comes to what they expect from their credit cards, the report from Pymnts.com shows.
Among the consumers living paycheck to paycheck, 82% say the safety measures taken are “very” or “extremely” important when determining preferences between different credit cards, and 74% say the same of rewards programs.
Other top factors are customer service quality, cited by 64% of the consumers living paycheck to paycheck, and interest rates or fee applied, cited by 62%. Among the active-users who are parents, 75% cite credit-building tools as a key factor when deciding between cards.