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Proactive Card Strategy: The Economy, UDAP and Next Steps

For years, the credit card industry succeeded with mass market strategies on the front end and exception-based strategies on the back end. Giant scooping mechanisms, such as zero-interest introductory rates, attracted throngs of new cardholders. Afterwards, rates and terms could be individually adjusted depending on usage and repayment patterns. The model had its messy aspects but was enormously profitable. Now, however, the foundations of the credit card industry’s traditional customer acquisition and profit optimization model have been shattered. The expanding economy that fueled credit demand and kept borrowers generally afloat on their debt obligations is long gone. Broad-based marketing initiatives ...

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