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.