The news: LendingTree introduced the Win Card in partnership with card fintech Upgrade, per a press release. The co-brand card is available to select LendingTree customers during a beta launch; a waitlist is open for others who are interested.
Card highlights: The no-annual-fee Visa card is marketed toward LendingTree customers and emphasizes responsible spending.
Why it’s worth watching: Credit card balances and delinquencies are creeping up—making debt a top-of-mind concern for consumers who are contending with inflation and higher interest rates.
The Win Card addresses many of these concerns by offering features that help customers spend more responsibly and pay down their debts.
The opportunity: Tethering the card to LendingTree’s money management and credit insights tools can help the firm boost customer engagement. Customers who may have otherwise used LendingTree on a limited basis are incentivized to use the platform more frequently to gain rewards.
The ties with LendingTree’s tools can also help the firm acquire new customers by appealing to money-conscious consumers.
The bottom line: The Win Card most likely won’t compete with mainstream cash-back credit cards like the Chase Freedom Unlimited or Citi Double Cash cards. But it may inform issuers’ strategies when they refresh their cards.
Related content: Check out the US Cash-Back Credit Card Emerging Features Benchmark 2022 to learn about the most in-demand features for 10 leading cash-back cards.
This article originally appeared in Insider Intelligence's Payments Innovation Briefing—a daily recap of top stories reshaping the payments industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.
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