Balance Transfer Offer Tracking Study
The cash advance and balance transfer landscape is shifting in the U.S. due to economic, competitive and regulatory factors. Many card issuers are changing the terms of their cash and balance transfer offers along numerous dimensions including rate, duration, fees, and payment allocation strategy.
The goal of this study is two-fold:
- To provide timely access to balance transfer and cash advance offers received by U.S. consumers on existing accounts.
- To provide insightful issuer-by-issuer analysis of recent offers.
On a continuous basis, Lightspeed Research collects mail-based balance transfer and cash advance offers that are being sent to consumers by major U.S. credit card issuers, including American Express, Bank of America, Chase, Citi, Capital One, Discover, HSBC, US Bank, and Wells Fargo. These offers are individually analyzed and used to develop the two main deliverables for this Study:
- A comprehensive monthly report that includes issuer-by-issuer analysis of key components of the balance transfer offers, including interest rates, durations, no-fee promotions, transaction fees, etc.
- Direct online access to images of the balance transfer offers that were received by consumers. Due to the manner in which the balance transfer offers are gathered for this Study, Lightspeed provides access to offers within days of receipt by consumers. This online database of offer images is searchable and filterable by an array of attributes (issuer, APR, fees, etc.).
Please contact the Lightspeed Research Financial Services Group to learn more about this and other offerings and to gain access to a sample report.