Europeans Want Credit (8/6/99)


FULL STORY:

There is hunger for plastic in Europe, especially the credit card kind. A new 13-country study released this week by PSI Global found that significant numbers of Europeans want additional payment cards that can be used for more types of transactions in more places. PSI found that nearly half of the 300 million consumers in Europe indicated that the financial benefits associated with a payment card is more important than the issuer. European consumers also want revolving credit, especially in markets where this feature has not been offered. Other key findings include Take-one applications from local financial institutions were used by 35% of consumers who had opened a card account; 45% of Europeans who were offered a balance transfer in connection with a new credit card account accepted; Europeans rated rebate of an annual fee, free replacement of stolen/damaged goods, rebates on purchases made with card and rewards programs such as free travel as among the most attractive card benefits; and the potential to issue new cards is particularly strong in Germany, Italy, Spain and the emerging markets of Czech Republic, Hungary, Poland and Turkey. The PSI study was based on 10,500 consumer interviews conducted by telephone or in person. For more information visit NFO Worldwide on the Web www.nfow.com.