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Valued Contributor
Posts: 2,857
Registered: ‎06-08-2012
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Where do new cards come from?

When a company decides to issue a new type of card (say like what Discover did with their It card), is it just one day nothing and the next it appears?  Im curious if there are any new great cards on the horizon.  Is there anyway to track this kind of thing?

 



Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Valued Contributor
Posts: 1,673
Registered: ‎11-11-2012
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Re: Where do new cards come from?

[ Edited ]

Duncanrr wrote:

When a company decides to issue a new type of card (say like what Discover did with their It card), is it just one day nothing and the next it appears?  Im curious if there are any new great cards on the horizon.  Is there anyway to track this kind of thing?

 


There was a thread on this just yesterday:

 

http://ficoforums.myfico.com/t5/Credit-Cards/Best-way-to-track-new-rewards-cards-before-launch-or-ju...

 

 

For many products, companies sometimes release them regionally first, I don't know if any national issuers do this for credit cards, which would one way to hear of them early.  But I would guess if there is any restricted release for new cards I would expect them to be targeted by credit file contents rather than geography, as I assume  promotions (X miles for $Y spend and double points on pots of blue paint) are.



As I said in that other thread, I don't think new credit cards are exciting enough for people to leak or for reporters to pick up  "It's a real secret, so don't tell anyone, but we are about to launch a new card that gives triple points on dining for 3 months, then quadruple points on zoo visits, and you get a 20% bonus if you keep the card three years and.. Why are you falling asleep?"

 

Edit:  Note that there is no intrinsic reason why this is more boring than "The new HTC will have a 6.7inch super-duper-true-enhanced-color screen, with a 16.7MP front and rear stereo camera, will running KeyLimePime 4.3.5 and...."  but apparently it is.  Perhaps because a new smartphone is a fun shiny toy (sorry, essential work tool) and a credit card is a bit of plastic.

Valued Contributor
Posts: 3,099
Registered: ‎10-02-2012
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Re: Where do new cards come from?

They come from Stork's.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


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Valued Contributor
Posts: 1,193
Registered: ‎05-17-2010
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Re: Where do new cards come from?

Most, if not all Financial Institutions have product management teams that essentially come up with card ideas and the rewards structure will be vetted in some sort of a strategy document/meeting/forum.  

 

 

FICO Scores Updated 07/15 EQ08 748 EX08 748 TU08 818
Established Contributor
Posts: 803
Registered: ‎05-16-2012
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Re: Where do new cards come from?

When you are alittle older, we will talk about where new cards come from Smiley Happy
100% Ficos: EX 780 , TU 783, EQ 776 inquiries last 2 years/1 year/6 months: EX-0/0/0, TU-0/0/0, EQ-1/0/0~ last credit card app 6/24/13- New car loan 3/8/2014- Discover IT $12,500~Kohls $1000~Amex BCE $4000~ Walmart Discover $7500~NFCU Signature CashRewards $23,300 Chase Freedom MC $6000~ Chase Amazon Visa $1900~ Cap 1/HSBC MC $3800~ Amazon Store $7000~ Fingerhut $1050
Valued Contributor
Posts: 2,857
Registered: ‎06-08-2012
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Re: Where do new cards come from?

Billy told me that his parents told him that they come from mommy and daddy banks and when they really love each other it just magically happens.

What does this say about Amex terminating Zync? Did Zync make his mommy and daddy bank mad?


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

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Valued Contributor
Posts: 1,193
Registered: ‎05-17-2010
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Re: Where do new cards come from?


Duncanrr wrote:
Billy told me that his parents told him that they come from mommy and daddy banks and when they really love each other it just magically happens.

What does this say about Amex terminating Zync? Did Zync make his mommy and daddy bank mad?

Zync probably didn't see the profit margins that AMEX wanted (not sure if the packs were a new thing or not) so they pulled it.  Happens all the time with credit cards.  Either they'll revamp the rewards program or they discontinue the card.  

FICO Scores Updated 07/15 EQ08 748 EX08 748 TU08 818
Super Contributor
Posts: 7,460
Registered: ‎12-11-2011
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Re: Where do new cards come from?

When a mommy credit card and a daddy credit card love each other very much..... And then the new card comes out with a mix of both of their features.


Valued Contributor
Posts: 2,857
Registered: ‎06-08-2012
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Re: Where do new cards come from?

Would it be incestuous for me to want two Amex cards to get together? I want the looks of my Zync card and the rewards of the PRG card.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 710 TU 727 EX 704 CK 719(FAKO-EX 697, EQ 697, TU 697)
Goal Score: 750

Take the FICO Fitness Challenge
Super Contributor
Posts: 7,460
Registered: ‎12-11-2011
0

Re: Where do new cards come from?

A little bit.


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