DES MOINES, Iowa–To enhance what it said is already a feature-rich credit card product, TMG Financial Services has launched a cellphone protection option for the card members of its Mastercard-branded ATIRAcredit Platinum Rewards card.
In exchange for paying monthly cell phone bills with their ATIRAcredit cards, card members receive damage and theft protection for cell phone claims up to $200 each, according to the company. Cellular Telephone Protection coverage applies to both the primary cell phone line and up to the first two secondary additional phones if they are on the same bill.
TMGFS said card members responded immediately. “Even before a marketing campaign to support the rollout had begun, TMGFS had already earned a 9% boost in the number of card members using their ATIRAcredit cards to pay their monthly cellular phone bills,” the company said.
TMGFS Product Manager Connie Thienes expects card members will use the Cellular Telephone Protection coverage to supplement standard cell phone coverage. She believes those card members who have experienced unexpected losses when a provider’s insurance failed to cover the costs of damage or theft to an eligible cell phone will be interested in the new feature.
“The additional coverage may complement an existing coverage plan purchased from a cell phone provider. If that plan includes a deductible, the supplemental coverage can be used to cover that cost,” said Thienes, who noted certain terms, conditions and exclusions to the program may apply.
Citing an increasingly noisy credit card market, Thienes said winning consumers’ love and loyalty in today’s card game is all about the perks.
“The credit card issuers that are best at securing top-of-wallet positioning typically offer extras that exceed consumer’s expectations,” said Thienes. “When you can align those extras with profitable, responsible card member behavior, offering perks like this creates a win-win for the issuer and the consumer.”