Unique tool quantifies the value of a credit card based on four key factors, painting a clearer picture for issuers and banks
TAMPA, Fla.–(BUSINESS WIRE)–#creditcards–Research firm Panoramic Research is thrilled to announce a new cutting-edge tool, the Credit Card Value Index. The Index is a comprehensive ranking of consumer credit cards from leading issuers.
The tool helps credit card issuers and banks gain a better understanding of the value of competing credit cards so they can stay on top of evolving trends in today’s extremely competitive market.
“The Credit Card Value Index provides an objective, apples-to-apples comparison of cards based on their potential value. Issuers can leverage the database to evaluate their cards against competitors,” said Mark Broderick, Principal Analyst at Panoramic Research.
The tool will allow issuers to make more informed decisions on product development, customer acquisition, and card fee structures based on what competing cards offer.
“Not only does the Credit Card Value Index rank more than 250 credit cards, but it provides a completely interactive tool for evaluating the value of cards,” said Broderick.
Scores are assigned using Panoramic’s proprietary methodology that bases its rankings on four key criteria:
- Rewards
- Fees
- Acquisition Offers
- Benefits
The top credit card in the Index in August was the Chase Sapphire Reserve Card. The card added new benefits and features in August, including increased point earnings for dining and travel. As a result, Chase Sapphire Reserve jumped 63 points from the month before and had a Credit Card Value Index score of 323 — jumping ahead of the American Express Platinum Card in the overall rankings.
The Index ranks cards across segments, including issuer-branded, co-branded, travel cards, and others. The top-ranking cashback cards in the Index are:
- Chase Freedom Unlimited: Score 175
- Chase Freedom Flex: Score 173
- Discover It Cash Back: Score 158
- Wells Fargo Active Cash Card: Score 153
- Navy Federal Cash Rewards: Score 152
To learn more about key features and uses of the Credit Card Value Index, click here.
About Panoramic Research
Panoramic Research brings over 25 years of business research and competitive intelligence experience in credit cards and banking to our clients.
For more information, please visit www.panoramicresearch.com. See our latest insights from the Index here: https://panoramicresearch.com/blog/.
Contacts
Mark Broderick, Principal Analyst at Panoramic Research
mbroderick@panoramicresearch.com
813-699-3939
