Skip to main content

Leading Credit Card Apps Are Adding Features to Boost Spending

 

America's credit cardholders increasingly favor mobile interactions. Issuers, taking note, are increasingly designing for the mobile-only user base. The resulting apps are handheld financial command centers that enhance retention and accelerate spending.

By Steve Cocheo, Senior Executive Editor at The Financial Brand
Published on January 9th, 2025 in Payments


Major credit card issuers are increasingly turning their card mobile apps into handheld command centers that can do everything from providing instant virtual replacement of a lost physical card or secure mobile checkout to offering a ready source of answers to transaction queries — in some cases, including detailed receipts of transactions with cooperating retailers.

Digital promotion is an additional focus: A growing number of issuers are allowing non-customers to use the issuers’ card apps to shop for new cards and to compare offerings. In-app applications for new cards are becoming more common, with 70% of issuers providing a mobile entrée to apply. (Four out of 10 support applications within their app, while three out of 10 transfer the would-be applicant to a mobile web application.)

These findings are from Keynova Group’s 2024 Mobile Credit Card Scorecard, a study based on the usage of actual card accounts and their mobile access points by the research firm’s analysts. The 10 U.S. card issuers whose offerings were evaluated include American Express, Bank of America, Barclays US, Capital One, Chase, Citibank, Discover, PNC, U.S. Bank and Wells Fargo. Bank of America scored highest overall and for its mobile app. Wells Fargo and American Express tied in the evaluation of mobile web customer experience. The study uses 350 criteria to weigh each issuer’s mobile channel offerings.

Overall, Keynova found that issuers increasingly design for a mobile-only card customer base, according to Beth Robertson, managing director.

"They are creating opportunities for expanded card utilization by promoting digital wallets and secure mobile payments and by better communicating the rewards structure and earnings potential associated with specific credit cards," says Robertson.

One overall shortcoming that Robertson observed is educational content within credit card apps. This element tends to be much stronger on issuer websites than mobile.
Appealing to Mobile-Based ‘Points Mongers’

Robertson says that more issuers are offering multiple ways to search and filter transactions so users can better understand charges to cards as well as how effectively they are tapping card providers’ rewards programs.

Here’s the carrot for issuers: The study notes that the latter capability, combined with more detailed information within mobile channels about card earnings and redemption possibilities, can encourage additional spending on a given card to maximize rewards. Nine out of 10 of the issuers show how much a transaction has earned for the cardholder and four out of 10 indicate what earning rate applies to a given transaction.

An ability to keep tabs on reward redemptions year-to-date is a feature awaiting further adoption. Only one in five issuers offer that service in their app and only two in five offer it via mobile web.

In contrast, it’s easier to track earnings in card rewards programs. Five out of 10 of the issuers’ apps report year-to-date rewards, as do six out of 10 of the issuers via mobile web.

Read more: Three Must-Have Features for Next Gen Banking Apps
A Solution to Mystery Charges, Right in the User’s Hand

Charges that cardholders don’t recognize are a common source of disputed transactions and customer angst.

"More of the issuers are providing more transaction detail," says Robertson, "so that if you click on a charge, you’re able to see not just the merchant’s name, but also their address. You might see the merchant location on a map. You might be able to click to view the receipt."

In the vanguard are Barclays U.S. and Citibank, their offerings illustrated by the screen captures below, provided by Keynova.


Barclays and Citibank are among the card issuers working with merchants to provide self-service guidance to "What the heck is this charge?" (Images courtesy Keynova.)



Robertson says it will take a while to build out this capability across the board, because it generally requires coordination with each merchant. Barclays’ feature, above, depends on the bank’s relationship with Walmart.

She believes such cooperation will grow. "I think both parties will see the value as they see the potential for a reduction in disputed transactions and the research effort that goes along with those," says Robertson.

Read more: Credit Card Delinquency and Balance Growth Will Moderate in 2025



Comments

Post a Comment

Please no profanity or political comments.

Popular posts from this blog

TruStage To Launch TSDA, Bringing Stablecoin Infrastructure To Community FIs

MADISON, Wis.— TruStage Tuesday today announced the planned launch of TruStage Stablecoin (TSDA), a fully reserved U.S. dollar stablecoin. At its core, TSDA is designed to broaden access to digital payment infrastructure for community-based financial institutions, TruStage explained. “A trusted partner of credit unions for more than 90 years, TruStage currently works with more than 93% of 4,300+ credit unions nationwide, which collectively hold more than $2 trillion in assets. TruStage Stablecoin will be among the very first stablecoins specific to community based financial institutions and is supported by decades of industry relationships, financial strength, and operational excellence,” TruStage said. “In my career working with credit unions, I’ve never witnessed the level of engagement surrounding any technology advancement similar to what I’m seeing with stablecoin solutions right now,” said Brian Kaas, president and managing director of TruStage Ventures, the venture capital arm o...
Post a Comment
Read Complete Article HERE>»

Sunday Reading - Where Beatniks Come From

  Where Beatniks Come From       An introduction to the Beat Generation The Beat Generation   was an American literary movement that rose to prominence in the 1950s. A loosely affiliated collection of poets, novelists, playwrights, publishers, and other artists reacted to what they considered an anti-intellectual and homogeneous social order following World War II.   The writing of the Beat Generation used experimental forms, surreal imagery, and vernacular language, and emphasized the importance of " spontaneous prose " to mimic the improvisation of jazz. Although the Beats praised canonical poets like William Blake, Arthur Rimbaud, and Walt Whitman, much of their work sought to rebel against literary tradition.   The Beats' radical politics and nonconformity influenced several subsequent countercultural ...
Post a Comment
Read Complete Article HERE>»

As Expected, Fed Opts Not to Raise Rates--But Says It May in Future

WASHINGTON–As expected, the Federal Reserve has adjourned its meeting here without raising rates, but it also indicated it could again do so in the future. The decision means rates remain at a two-decade high. The adjournment without action marks the second consecutive meetings at which the Fed has not raised rates, it the longest period without an increase since it began to lift rates from near 0% in March 2022. In announcing it would maintain the Fed Funds rate at a range of 5.25% to 5.50%, the Fed said in a statement that recent indicators suggest economic activity expanded at a strong pace in the third quarter, job gains have moderated since earlier in the year but remain strong, and the unemployment rate has remained low. Inflation remains elevated. ...
Post a Comment
Read Complete Article HERE>»

James Hunter, Executive Director of Credit Union Development for New Orleans Firemen’s CU, knows too well how expensive it is to be poor.

  NEW ORLEANS FIREMEN’S FCU 􀀁 METAIRIE, L   A passion for empowerment James Hunter knows too well how expensive it is to be poor. It’s what he sees every day as mortgage director and executive director of credit union development for $182 million asset New Orleans Firemen’s Federal Credit Union, Metairie, La., and executive director of The Faith Fund, a nonprofit partnership that seeks to provide a financial hand-up to the undeserved. It’s what inspires him to come to work every day and drives his passion of empowering people and setting them on the path to financial security. “Too many people are too far away from the starting line,” Hunter says. “Payday loans are a big business in Louisiana. Exorbitant fees and interest from payday loans drain more than a quarter of a billion dollars a year. Baton Rouge supports one of the top three pay-day loan markets in the U.S.” The Faith Fund was formed to counteract that. It’s a unique cooperative relationship between like-minded busi...
Post a Comment
Read Complete Article HERE>»

LA County firefighters help each other cope with toughest part of the job

This is an excellent program, and no matter what size your department is, you should be prepared. Scott Ross  talks over issues with Firefighter Richard Conejo who was recently affected by the death of a fellow firefighter . They meet under the auspices of the LA County Fire Department's Peer Support Program. **** Read More ; LA County <b>firefighters</b> help each other cope with toughest part of the job :
Post a Comment
Read Complete Article HERE>»

CU Board Modernization Act Passes House

Backed by NAFCU and CUNA, the legislation would reduce the number of times CU boards must meet each year. By Michael Ogden | September 30, 2022 at 01:00 PM U.S. Capitol building, Washington, D.C. (Source: Shutterstock) The House of Representatives passed the Credit Union Board Modernization Act on Thursday, the fate of which goes to the Senate, where a similar version was introduced in May. The bill would alter the Federal Credit Union Act’s requirement that federally charted credit unions meet 12 times each year and reduce that number to a minimum of six times each year. For months, CUNA and NAFCU officials have backed the bill , along with representatives from the California and Ohio Credit Union Leagues. “This bill would provide a needed update to credit union board meeting requirements, freeing up time and resources that can be dedicated to meeting members’ needs,” CUNA President/CEO Jim Nussle said. “We thank Reps. Var...
Post a Comment
Read Complete Article HERE>»

A Perfect Example - What Makes Credit Unions Different from Banks!

When the government shutdown hit in October and paychecks stopped, thousands of federal employees were left wondering how to make ends meet. Credit unions across the country stepped up—but Keesler Federal Credit Union went above and beyond. No loans, no hassle—just your paycheck Instead of making members apply for emergency loans, Keesler Federal launched its Paycheck Relief Program. Revolutionary in its simplicity, it worked like this: if you were a federal employee with direct deposit at Keesler Federal, your paycheck kept coming—interest-free, fee-free, and stress-free. Each qualified member could receive up to $6,000 per pay period for as long as 90 days. No hoops, no headaches. From October 1 until the shutdown ended, Keesler Federal advanced more than 5,000 paychecks totaling $6.5 million to 1,710 members. For non-members, they even offered zero-interest loans up to $6,500 with a year to pay it back. This proactive approach meant that before the first missed paycheck, Keesler Fed...
Post a Comment
Read Complete Article HERE>»

If these cuts in salaries catch on, is your credit union ready?

NEW ORLEANS — The first New Orleans firefighters were furloughed on Sunday under a plan requiring six unpaid days off by the end of the year to help stem a precipitous decline in city sales tax revenue during the coronavirus pandemic. The city’s furlough requires almost all 4,700 employees to take the six unpaid days, including police, firefighters and other safety workers, reducing their salaries by about 10% and saving the city $6 million. New Orleans' firefighters' union says the city's furloughs have had an impact on service. The city has required nearly all of its public employees to take at least six unpaid days off before the end of the year in order to offset COVID-19-related budget issues. ...
Post a Comment
Read Complete Article HERE>»

Syracuse Fire Department Credit Union

 Congrats, Tonia, on your promotion! ================================================= Remember, you're not alone with  NCOFCU.org Join/Upgrade Check out some of NCOFCU's additional features: First Responder Credit Union Academy Financial Literacy Podcasts YouTube Mini's Blog Job Board
Post a Comment
Read Complete Article HERE>»

The NCUA just published its stablecoin playbook: Here’s what credit unions need to know

The National Credit Union Administration (NCUA) has begun answering a key question for credit unions since the GENIUS Act became law last July: What is the stablecoin licensing process? On February 11, 2026, the NCUA published a  22-page proposed rule , "Investments in and Licensing of Permitted Payment Stablecoins Issuers," in the Federal Register. This document outlines the framework for credit union participation under the new Act. The NCUA has a deadline of July 18, 2026, to finalize this rule. Here’s what credit unions need to know now. Quick background: The GENIUS Act and the NCUA’s role The GENIUS Act designated the NCUA as a primary federal regulator of stablecoin, alongside the FDIC, the OCC, and the Federal Reserve. Credit unions can't issue stablecoins directly; they must operate through subsidiaries, typically CUSOs, that apply for and obtain an NCUA-issued Permitted Payment Stablecoin Issuer (PPSI) license. The newly proposed rule covers the application and l...
Post a Comment
Read Complete Article HERE>»