Bank loan zone: Set-in-stone credit limits are so 2019

Every charge card portfolio in the movement is going to be tested this season. Intense competition for cardholder business, changing consumer preferences and on-the-move rates of interest are only a few of the trends already presenting cards teams with tough challenges, yet also unprecedented opportunity.

To position themselves for achievement in the evolving world of credit card issuance, savvy lending institutions are searching more closely at cardholder data. Coupled with skillful analytics, data from a variety of internal and external sources allows cards managers to create quick decisions with full confidence. The result is an intuitive program, one that adjusts to offer customized features, benefits and perks-often before members even know they need them.

Take lines of credit, for instance. Cardholders rarely consider asking their issuer to change what many of them perceive to become set-in-stone limits. Yet, when presented with even a modestly increased credit line, cardholder appreciation for that benefit becomes apparent.

This is especially true among bank cardholders. That’s because cooperatives are very frequently on the extreme end of conservatism when it comes to extending credit. Not only does this conservatism leave worthy borrowers completely off the credit union radar; it opens the door for aggressive competitors and financial technology lenders ?to start courting a credit union’s members.