Wed 10 Oct 2007
Report: African-American Market Untapped By Most Providers (Media Post)
Posted by Editor under ConsumerSOME EXAMPLES OF POSSIBLE PROGRAMS could be credit card companies partnering with life insurance companies. Increases in life insurance coverage could be offered as part of a credit card reward program, he suggests. The African-American market–projected to wield a buying power of $981 billion by 2010–has not been cultivated by most financial service providers, according to a new report.
The group not only holds fewer credit cards than any other major racial or ethnic group, but it also uses them far less often–leaving significant room for growth, according to “African American Credit, Debit and Prepaid Card Users: Undervalued and Overlooked,” a new report from Packaged Facts.