Study: Metal Cards Attract Members

A third of American consumers are willing to switch banks in order to get their hands on a metal payment card, and almost half said they would like their credit unions or financial institutions more if they offered metal payment cards, according to a new survey commissioned by Somerset, N.J.-based card manufacturing firm CompoSecure.

The survey of 18,000 people in 18 markets around the world found that 45% of U.S. consumers said they felt more positively about their financial institution if it offered metal payment cards, and 33% said they would switch to a financial institution that offered a metal card. Payments consulting firm Edgar, Dunn & Company conducted the survey. 

“In today’s competitive market, financial institutions are looking for differentiators that can give them a competitive edge,” CompoSecure CEO Jon Wilk said. “The data proves that premium metal cards coupled with a strong loyalty and rewards program, can build a bank’s customer loyalty, grow their customer base and ensure solid footing for the future with a younger demographic. The metal card is the best manifestation and representation of a premier brand.”