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Credit Card Onboarding: Evolving Strategies Are Critical to Success

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credit card customer onboarding

2021 brings new credit card customer onboarding challenges to issuers, as U.S. consumers (including many newly acquired cardholders) carry multiple credit cards with high levels of inactivity. In fact, 50% of all U.S. cards are deemed inactive. An effective Early-Month-on-Book (EMOB) program can positively impact activation and early card use because when customers engage frequently within the first 90 days of card ownership, their long-term value is up to three-times greater.

The contemporary EMOB communications stream must align with the growing payment trend of preference for digital transactions. For example, a Deloitte study uncovered that nearly four out of five respondents used a digital payments app at least once last year. To maintain a foothold, card issuers “should work to become and remain the default payment method – the underlying payment instrument consumers use most in their apps. Once the credit card is saved within the payment app, consumers are unlikely to update it.” Winning the top-of-app position, therefore, must start with EMOB communications.

We’ve worked hard to become the EMOB marketing experts trusted by so many financial institutions. As illustrated in our latest and updated infographic (see below or click here for a PDF), EMOB marketing works for successful credit card customer onboarding. Let it inspire you to create or refresh your EMOB strategy – one that checks the boxes on five key marketing trends the most successful issuers use with cardholders in their first 90 days!

View infographic as a PDF.

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10 Tips for Early Month on Book (EMOB) Marketing

It’s critical to get in front of new cardholders early and often to drive immediate activation and usage. Using these tried-and-true best practices, you can craft a strategic EMOB plan that improves your chances of becoming top of wallet with a highly engaged cardholder base.