"With historically-low consumer confidence, a tight credit market and looming uncertainty in the marketplace, it's likely many consumers are doing all they can to avoid having to take out additional lines of credit. We see that prime candidates have become particularly cautious during this time, while subprime candidates remain relatively credit-hungry," said Jennifer Lanouette, comScore vice president. "Regardless of these shifts in consumer behavior, it's important for credit card issuers to realize they can still compete for new customers by appealing to those looking for better rates, card rewards and service options."
In fact, 67 percent of survey respondents (which includes both subprime and prime consumers) said they would consider switching their primary credit card if a better feature were offered by another credit card company. Fifty two percent of these respondents said a lower APR/interest rate would entice them to switch, while 38 percent said better rewards/features would prompt them to make the move.
The mobile channel is also becoming increasingly attractive to consumers seeking financial information, with the online banking category ranking as the fastest growing mobile Web category during the past year, up 91 percent in unique visitors in April 2008 versus year ago.
