New Marqeta Research Finds Tremendous Opportunity for Credit Providers to Rethink Customer Loyalty
Marqeta's fourth annual State of Credit Report reveals shifting credit card loyalty trends and consumer struggles. The survey of 3,000 people shows that 72% of satisfied cardholders still plan to apply for new cards within a year. 70% of consumers with no plans to apply could be swayed by the right offers. Key findings include: 31% of US consumers want personalized rewards, 19% missed payments in the past year, and 41% of 18-44 year olds report higher credit card debt than last year. The study highlights consumer interest in flexible payment options and growing credit card debt amid rising interest rates.
Il quarto rapporto annuale sullo stato del credito di Marqeta rivela tendenze in cambiamento nella fedeltà alle carte di credito e le difficoltà dei consumatori. Il sondaggio condotto su 3.000 persone mostra che il 72% dei titolari di carte soddisfatti prevede ancora di richiedere nuove carte entro un anno. Il 70% dei consumatori senza piani di richiesta potrebbe essere influenzato dalle offerte giuste. Tra i risultati chiave: 31% dei consumatori statunitensi desidera premi personalizzati, 19% ha saltato pagamenti nell'ultimo anno e il 41% dei giovani tra i 18 e i 44 anni riporta un debito sulla carta di credito più elevato rispetto all'anno scorso. Lo studio evidenzia l'interesse dei consumatori per opzioni di pagamento flessibili e l'aumento del debito sulle carte di credito in un contesto di tassi d'interesse in crescita.
El cuarto informe anual sobre el estado del crédito de Marqeta revela tendencias cambiantes en la lealtad a las tarjetas de crédito y las luchas de los consumidores. La encuesta a 3,000 personas muestra que el 72% de los titulares de tarjetas satisfechos aún planea solicitar nuevas tarjetas en el transcurso de un año. El 70% de los consumidores que no tienen planes de solicitar una podría ser influenciado por las ofertas adecuadas. Los hallazgos clave incluyen: el 31% de los consumidores en EE. UU. quieren recompensas personalizadas, el 19% se perdió pagos en el último año, y el 41% de los jóvenes de 18 a 44 años reporta una deuda por tarjeta de crédito mayor que el año pasado. El estudio destaca el interés de los consumidores en opciones de pago flexibles y un creciente endeudamiento con tarjetas de crédito en medio del aumento de las tasas de interés.
Marqeta의 네 번째 연례 신용 리포트는 변화하는 신용 카드 충성도 트렌드와 소비자들이 겪고 있는 어려움을 보여줍니다. 3,000명을 대상으로 한 설문조사에 따르면, 72%의 만족한 카드 소유자들이 여전히 1년 내에 새로운 카드를 신청할 계획이라고 합니다. 70%의 카드 소유자들은 신청할 계획이 없지만 적절한 제안에 따라 마음이 바뀔 수 있습니다. 주요 발견 사항으로는 31%의 미국 소비자들이 맞춤형 보상을 원하고, 19%는 지난 1년 동안 결제를 놓친 경험이 있으며, 41%의 18세에서 44세 소비자들이 지난해보다 더 높은 신용 카드 빚을 가지고 있다고 보고하고 있습니다. 이 연구는 소비자들이 유연한 결제 옵션과 높은 이자율 가운데 증가하는 신용 카드 부채에 관심을 보이고 있다는 점을 강조합니다.
Le quatrième rapport annuel sur l'état du crédit de Marqeta révèle des tendances changeantes en matière de fidélité aux cartes de crédit et les difficultés rencontrées par les consommateurs. L'enquête menée auprès de 3 000 personnes montre que 72% des détenteurs de cartes satisfaits prévoient toujours de demander de nouvelles cartes dans l'année. 70% des consommateurs n'ayant aucun projet de demande pourraient être influencés par les bonnes offres. Parmi les résultats clés, 31% des consommateurs américains souhaitent des récompenses personnalisées, 19% ont manqué des paiements au cours de l'année passée, et 41% des 18-44 ans déclarent avoir des dettes de carte de crédit plus élevées que l'année précédente. L'étude met en évidence l'intérêt des consommateurs pour des options de paiement flexibles et l'augmentation des dettes de carte de crédit dans un contexte de hausse des taux d'intérêt.
Der vierte jährliche Marqeta Kreditbericht zeigt sich verändernde Trends in der Loyalität zu Kreditkarten und die Schwierigkeiten der Verbraucher. Die Umfrage unter 3.000 Personen zeigt, dass 72% der zufriedenen Karteninhaber innerhalb eines Jahres planen, neue Karten zu beantragen. 70% der Verbraucher, die keine Pläne haben, könnten von den richtigen Angeboten überzeugt werden. Zu den wichtigsten Ergebnissen gehören: 31% der US-Verbraucher wünschen sich personalisierte Belohnungen, 19% haben im vergangenen Jahr Zahlungen versäumt, und 41% der 18- bis 44-Jährigen berichten von höheren Kreditkartenschulden als im Vorjahr. Die Studie unterstreicht das Interesse der Verbraucher an flexiblen Zahlungsmöglichkeiten und die wachsenden Kreditkartenschulden angesichts steigender Zinssätze.
- 72% of satisfied customers planning to apply for new cards shows strong market demand
- 42% of US consumers interested in flexible payment cards combining debit, credit, and BNPL features
- Strong adoption potential with 80% of 18-43 year olds open to new cards with right features
- 19% of US consumers missed credit card payments in past 12 months
- 41% of 18-44 year olds report increased credit card debt compared to previous year
- 32% of US consumers stopped using a credit card in past 12 months
- 39% delayed major purchases due to high interest rates
Insights
The research reveals significant shifts in credit card consumer behavior that could impact Marqeta's market position and revenue potential. The 72% of satisfied customers still planning to apply for new cards indicates a highly competitive market with opportunities for growth. The demand for personalization and flexible payment options, with
The concerning trend of increased payment defaults, with
-
Even among consumers with no plans to apply for a new card,
70% said they could be swayed with the right offer or feature. -
Among US consumers surveyed who said they missed a credit card payment in the past year,
57% said it was the first time they had missed a payment. -
Nearly one-third (
31% ) of US consumers surveyed report personalized rewards as a “need to have” for credit card perks.
Even happy cardholders are on the lookout for better options
Nearly three quarters (
“As even the best brands know, customer loyalty is fragile. Even among highly satisfied customers, people are always hunting for the next best thing, and the traditional methods of building loyalty haven’t caught up with the way people are using their cards today,” said Todd Pollak, Chief Revenue Officer, Marqeta. “Brands that don’t evolve to offer highly personalized, flexible card experiences that consumers have come to expect will be left behind.”
Expectations are high when it comes to credit cards, but needs are not being met
Nearly one-third (
People surveyed want more personalization, more flexible options and lower interest rates from their credit cards. They’re just not getting what they’re looking for. Nearly one-third (
-
Forty-two percent of US consumers surveyed would be interested in a payment card that can switch between debit, credit and BNPL features and capabilities, increasing to
59% of consumers 25-44 years old, and67% of consumers with plans to apply for a new credit card. -
Fifty-four percent of 18-34 year old US consumers surveyed consider 24/7 dedicated concierge services as a standard card feature, and
38% consider exclusive events a standard card feature as well.
People rely on credit, but are struggling to keep up
While credit is critical to driving people’s livelihoods and spending power, Marqeta’s new report shows that American consumers are struggling. According to the Federal Reserve Bank of
- Forty-one percent of 18-44 year olds surveyed in the US reported their credit card debt is higher than it was 12 months ago.
- Thirty-nine percent of US consumers surveyed delayed making a major purchase on credit because of high interest rates.
-
Buy Now, Pay Later (BNPL) services have helped consumers unlock purchasing power during these fluctuating economic times, with
62% of BNPL users surveyed reporting that BNPL has helped them make ends meet in the past year, up from46% in 2022.
To download the full report, please click here.
About Marqeta (NASDAQ: MQ)
Marqeta makes it possible for companies to build and embed financial services into their branded experience—and unlock new ways to grow their business and delight users. The Marqeta platform puts businesses in control of building financial solutions, enabling them to turn real-time data into personalized, optimized solutions for everything from consumer loyalty to capital efficiency. With compliance and security built-in, Marqeta’s platform has been proven at scale, processing more than
About The 2024 State of Credit Report
Marqeta’s 2024 State of Credit survey was fielded by Propeller Research in August 2024 on behalf of Marqeta, surveying 3,021 consumers ages 18 and up (2,020 in the US, 1,001 in the
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to changing consumer preferences; increasing consumer adoption of certain digital payment methods, products, and solutions; which payment, banking, and financial services products and solutions may succeed; technological and market trends; Marqeta’s business; Marqeta’s products and services; and statements made by Marqeta’s senior leadership. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: any factors creating issues with changes in domestic and international business, market, financial, political and legal conditions; and those risks and uncertainties included in the “Risk Factors” disclosed in Marqeta's Annual Report on Form 10-K, as may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.
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James Robinson
press@marqeta.com
Source: Marqeta
FAQ
What percentage of Marqeta (MQ) survey respondents missed credit card payments in 2024?
How many satisfied credit card holders plan to apply for new cards according to Marqeta's (MQ) 2024 report?
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