SAN FRANCISCO – A survey jointly sponsored by Visa USA and Redbook suggested that CUs could provide an additional service to their members and drive card usage if they were to target their card reward programs to expecting parents.
The survey found that while 76% of expecting parents said they are financially prepared for their new kids, 41% interviewed later said they had not been. Among the strategies the magazine and card brand recommended were establishing a realistic budget and getting control of the use of credit cards when it comes to the new children.
The survey results and article implied that a CU which offered expectant parents baby related rewards for the use of the cards to make baby related purchases might significantly hike usage of those cards.
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