The use of credit cards has become a common financial tool used by many individuals and businesses around the world. Credit cards allow people to borrow money from financial institutions without paying in cash, and the amount owed is repaid in the future. The use of credit cards has become more common now that almost all major retailers accept them, and some of the benefits include convenience, rewards, and reliable financial protection.
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Data for today’s episode is provided by Javelin Strategy and Research Report: Private Label Credit Cards: Still Relevant But Losing Their Shine
Store Brand Credit Card Usage by Generation in Last 12 Months
- 30% of Gen Z have used a store brand credit card
- 20% of millennials have used a store brand credit card
- 31% of Gen Xers have used a store brand credit card
- 33% of Baby Boomers have used a store brand credit card
- 37% of the Silent Generation have used a store brand credit card
About the report
Explore the captive credit card segment with this insightful report on private label credit cards in the United States. Often referred to as “store cards” or “white label credit cards,” these unique offerings are limited to specific merchants and entice consumers with exclusive offers. From promoting financing options like deferred interest to driving customer engagement in a variety of products and services, private label cards play a vital role in the credit card space. Nonetheless, this comprehensive analysis sheds light on the challenges and risks faced by these cards amidst changing market dynamics.
Learn about the dynamic landscape of private label credit cards in the U.S. with this in-depth report. Gain valuable insights into usage and possession trends, delve into products from key retailers, and uncover potential risks to consumers. Additionally, explore how competitive threats such as instant financing and buy now pay later (BNPL) loans are reshaping the private label card market. As an important part of the credit card industry, understanding the evolving landscape for private label cards is critical for both businesses and consumers.