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Great Credit Card Data will help you understand your customers ...

by PatrickBrianONeill
6 replies
Provided from info in the U.S. Census Bureau, Statistical Abstract of the United States: 2011

I discovered this while doing some research for a customer.

I found this info super-enlightening! Understanding the spending habits of your customers is crucial to your success.

I knew that AMEX account holders were the rarest for example, but did not know that they account for a whopping 22% of all credit card transactions by dollar volume, even though only 4% of card holders worldwide have an AMEX account!

Hope this info can be of use to you in some way.

Patrick
#card #credit #customers #data #great #understand
  • Profile picture of the author Alexa Smith
    Banned
    Originally Posted by PatrickBrianONeill View Post

    I knew that AMEX account holders were the rarest for example, but did not know that they account for a whopping 22% of all credit card transactions by dollar volume
    Interesting ...

    But I suspect those figures apply to all uses of cards, not specifically to online use of cards, don't they? Amex isn't used so much online, I think? I may be mistaken!

    (Call me pedantic, but Amex isn't actually a credit-card: it's a charge-card. )
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    • Profile picture of the author PatrickBrianONeill
      Alexa,

      You are correct, those numbers indicate all sales, both online and off. I did find the info interesting though.

      Patrick
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  • Profile picture of the author nicholasb
    I get quite a few Amex payments, However I noticed I only get them on my higher priced products. Amex payments are pretty much non existent for my lower priced offers.
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  • Profile picture of the author Rbtmarshall
    One reason some places don't accept amex is because their fees are different than visa, master card, etc..

    the number isn't that surprising to me. It's sort of like how the top 1% have 35% of our nations wealth

    and the bottom 20% net-worth of the population have negative worth because of credit
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  • Profile picture of the author seasoned
    Originally Posted by PatrickBrianONeill View Post

    Provided from info in the U.S. Census Bureau, Statistical Abstract of the United States: 2011

    I discovered this while doing some research for a customer.

    I found this info super-enlightening! Understanding the spending habits of your customers is crucial to your success.

    I knew that AMEX account holders were the rarest for example, but did not know that they account for a whopping 22% of all credit card transactions by dollar volume, even though only 4% of card holders worldwide have an AMEX account!

    Hope this info can be of use to you in some way.

    Patrick
    I once heard what the largest purchase then made on AMEX was! I won't even FATHOM to remember t but if you took the networth of EVERYONE on this board you STILL might not come close! He was a PRINCE, and he bought a jumbo jet, IIRC

    I think AMEX was the FIRST EXTANT credit card!

    VISA: July 1, 1970
    MASTERCARD: 1966 as Interbank/Master Charge
    AMEX: Buffalo, New York, United States (1850)
    DINERS CLUB: 1950
    CARTE BLANCH: SEE DINERS CLUB

    Diners club USED to be a good competitor, but I doubt they are NOW!

    ALSO, until relatively recently, american express was NOT a credit card! It was a travel/entertainment card. You had to PAY IN FULL!!!!

    American express was ALSO the first with international support and drafts.

    SO, with its HUGE history, NO limit, and not having to extend so much credit, OF COURSE it has a high dollar volume.

    Steve
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  • Profile picture of the author seasoned
    BTW you DON'T have to be rich to have an AMERICAN EXPRESS card. I have a few. I got my first one before I was 30. I never actually tried to get a credit card, I just responded to some offers. But don't think you even have to make 6 figures. At least in the 1980s, you DIDN'T.

    Steve
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