Can offering free credit scores increase customer lifetime value? That’s what First Bankcard set out to determine when they started offering cardholders free FICO® Scores through FICO® Score Open Access. Now, 75% of the issuer’s online users access their FICO Scores—and the program is indeed building customer loyalty. Some 88% of cardholders are more likely to carry a First Bankcard product because of the free credit scores feature, and First Bankcard is also experiencing higher retention rates.
Read Caitlyn’s guest blog posts: FICO® Scores: Just Like Mikey – They Like It! and Do Consumers Actually Care About Their Credit Scores?