Setting Your Cardmembers Up for Success
Often, opening a new credit card is not a light decision for consumers. Most take the time to carefully choose the lender that they want to work with, review interest rates, and decide if they think that it is worth it to take out a new line of credit. When working with cardmembers, it is important to remember that they chose you for a reason. You want to continue living up to that reputation by setting your cardmembers up for success from the very beginning.
Send a Welcome Packet
Many times, lending institutions send the card, the dry details of the card, and nothing else. While cardmembers obviously need all of that information, people also love to feel appreciated by the organizations that they choose to work with.
Sending a welcome packet that lays out payment options, the benefits of the card, and helpful information for contacting you if they need anything can start the relationship out on the right foot. You may also want to send some goodies like branded pens or other swag items.
Provide Them with a Variety of Support Resources
Everyone is different – people have specific preferences and ways that they handle things. Offering multiple resources, payment options, and ways to get in touch with your lending institution sets your cardmembers up for success at the very beginning of the relationship.
A few different platforms you can use to support your cardmembers include:
· Internal messaging system
· Mail service
The more options that you give your cardmembers, the more likely they are to get in touch when they need something or are struggling to make a payment. This strategy can help your organization reduce risk and improve customer satisfaction at the same time.
Stay in Touch
Across nearly all industries, consumers like to hear from the organizations that they do business with. It makes them feel appreciated and recognized. Create a regular, personalized email cadence and be sure to touch base around the holidays.
Be sure to send any important updates to support and hours when circumstances change, as well. A strong communication plan benefits your organization and your cardmembers, especially in times of upheaval.
Additionally, if you start to notice that cardmembers are in danger of late payments or are struggling to make payments at all, it is advisable to send resources that can help them get their feet under them before they start missing payments.
Supporting Your Cardmembers in Challenging Times
Coronavirus has resulted in unforeseen consequences for millions of people. As we start to slowly work towards a new normal, there is no doubt that there will continue to be more challenges for individuals and organizations alike.
During times like these, it is more important than ever to set your cardmembers up for success. Giving them the tools they need to find reputable credit counseling agencies (CCAs) could be exactly what they need to weather the storm and start focusing on their financial health.
Peregrin can help your organization save time by providing you the resources you need. We work with the best of the best CCAs and are able to provide a toll-free number for your cardmembers to call when they need help. Questions? Give us a call today at 1-800-231-2493 or contact us online.