|by Mr Credit Card|
We all know that credit card issuers segment the market and create products for different folks. For example, there are frequent flier credit cards for the jet setter. There are credit cards for college students, and even those with bad credit. But there aren’t many cards that are specifically targeted towards “young adults”. Well recently, that has changed for a couple of issuers who are looking to target young working adults. I think part of the reason for these two companies to target this segment is because most young folks are not frequent travelers and hence the traditional reward cards do not make sense. Unlike the frequent flier, a typical person is more likely to use their cards at
Citicards have come up with a credit card that targets young adults – called the Citi Forward® Card. Unlike their regular rewards card, this card pays you extra points when you use the cards on things like restaurants and entertainment. This card will appeal to younger folks who are looking for a reward card but do not travel a lot.
American Express has had long success with their charge cards. And because they have such a stronghold in the corporate card segment, many executives and folks who work for fortune 500 companies end up having Amex charge cards as their personal card as well. But with the proliferation of credit cards with no annual fee (including some of their own cards), American Express is trying to get target charge cards to young adults. And hence, they came up with a charge card called the Zync.