February 17th, 2014 by Elma Jane
Discover’s Free FICO Service
Executives across all industries have begun forsaking consumer input when designing products. it’s not a customer’s job to know what they want.
Julie Loeger, senior vice president of brand and acquisition at Discover, has found success by bucking this recent trend. Launched just one year ago, Discover’s it Card – a credit card that comes with no late fees, no over limit fees and no APR penalties for late payments, was crafted precisely to meet the desires of increasingly demanding credit card users.
This November, Discover once again illustrated its ability to put consumer needs front and center with the announcement that it would begin providing cardholders with free FICO credit scores as part of their monthly credit card statements.
A lot of information, and what consumers wants to do is share that information to help them achieve their financial goals and personal goals.
The result was an overwhelming positive response that led Loeger and her team to put together a program that included FICO scores, while keeping the end-product simple and straightforward.
One year after the Discover it Card was introduced, and one month after the launch of its FICO service, a regrouped with Loeger for a conversation that revealed new insights into what consumers are looking for in the market and what Discover has learned about marketing successful card products.
Posted in Financial Services, Visa MasterCard American Express Tagged with: apr penalties, card products, cardholders, credit scores, credit-card, dicover, fico, financial services, late fees, late payments, over limit fees, statements
