- Defining attrition: active versus passive.
- Industry averages and ranges.
- Dimensioning the costs of attrition.
- Risks of attrition: customer relationship, portfolio credit risk, declining portfolio value.
- Issuer response to active attrition: who do you try to keep (w/sample decision tree). How to combat this type of attrition.
- Issuer response to passive attrition: how do you find the dissatisfied card holders (w/sample data segmentation schematic)? How to combat this type of attrition.
Main Topics
Attrition White Paper
Relevance:
With the cost of new accounts at all-time highs and national card issuing banks escalating their efforts to attract card holders from small institutions, the cost of attrition is very significant but few card issuers are aware of this cost. Without a clear retention strategy, smaller issuers will experience eroding card holder satisfaction, declining profitability, and risk losing their best relationships.
Summary:
This paper offers a best practices summary for combating credit card account attrition with a focus on affordable, actionable tactics that can be employed by regional or smaller credit card issuers. Order your copy for only $249.
With the cost of new accounts at all-time highs and national card issuing banks escalating their efforts to attract card holders from small institutions, the cost of attrition is very significant but few card issuers are aware of this cost. Without a clear retention strategy, smaller issuers will experience eroding card holder satisfaction, declining profitability, and risk losing their best relationships.
Summary:This paper offers a best practices summary for combating credit card account attrition with a focus on affordable, actionable tactics that can be employed by regional or smaller credit card issuers. Order your copy for only $249.
