Comperemedia unveils Offer Index - a proprietary tool redefining credit card offer comparisons

CHICAGO, Dec. 7, 2023 /PRNewswire/ -- Comperemedia, a Mintel company, today announced a groundbreaking new product set that simplifies the competitive credit card landscape: Offer Index.

Analyzing six key attributes for non-rewards and no-fee cash rewards cards like annual fee, rewards, acquisition incentive, purchase APR, introductory purchase APR, and balance transfer, Offer Index distills the competitiveness of credit card offerings into one number—the Offer Score.

Offer Index creates a more nuanced view of competitors' acquisition strategies than what can be found on public card sites, providing credit card companies the opportunity to see the value of their cards from the eye of the consumer with simple comparisons and clearly defined competitive sets.

"Developed by our incredible team of Data Scientists and Credit Card experts, Offer Index gives credit card companies 'x-ray' vision into their competitor's offers," stated Ben Dietz, President, Mintel Americas. "Rather than sifting through countless product details for each credit card product, Offer Index provides a streamlined view of each card's strengths, weaknesses, and changes over time, giving brands a valuable metric to gauge their market competitiveness. This transforms the way brands and marketers navigate the dynamic credit card market, giving them intelligence quickly to determine their competitive strategy."

Offer Index reveals quarter-over-quarter variations and outcomes in both the non-rewards and no-fee cash rewards competitive sets. For example, Wells Fargo credit cards were the top-ranked products by average Offer Score in both competitive sets. The company's Active Cash's Q3 average Offer Score rose to 60.75, and Wells Fargo Reflect's Q3 average Offer Score rose to 59.36 (an all-time high).

"Comperemedia's Offer Index provides brands with a robust and easy-to-understand metric so they can quickly analyze and quantify where their product offerings sit in the marketplace—not just in terms of marketing volume or spend, but also in terms of how competitive the physical product offerings are," stated Patrick Rahlfs, Senior Financial Services Analyst, Mintel. "For example, Capital One Quicksilver achieved its highest Incentive Score of 60.14 in Q3, securing the top spot in individual campaigns through its use of $300 incentives. This insight offers brands a firsthand glimpse into the strategies of their competitors, enabling them to identify effective approaches and opportunities to refine and adapt their strategies and campaigns."

About Comperemedia

Comperemedia, a Mintel company, provides trusted competitive intelligence that enables brands in the United States and Canada to quickly identify opportunities specific to their industry and products. For the last 25 years, our industry-leading data, paired with expert analysis and innovative technology, has provided clients confidence in decision-making across their business.

Additional information on Comperemedia's Offer Index and interviews with Patrick Rahlfs are available upon request from the Comperemedia Press Office.

SOURCE Comperemedia, a Mintel Company

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