Does a credit card made from the panels of a retired Boeing 747 airplane spur consumers to use it more often?
Credit card issuers such as American Express, Apple, Capital One and JPMorgan Chase and manufacturers such as CompoSecure and Giesecke+Devrient have been betting for years that migrating from first-use plastic to sustainable materials will create a halo effect that attracts more users and spurs those consumers to choose that card as their primary option. That’s especially true with premium card brands with robust perks and benefits that cater to super prime and high-net-worth individuals.
The materials used in credit cards have evolved since the metal card was first introduced with the American Express Centurion — also known as the Black card — in 2003, CompoSecure’s Wilk said.
Brokerage firm Robinhood has a credit card made of solid gold. Delta and American Express have partnered twice to issue cards made from the panels of retired 747 airplanes. CompoSecure manufactures credit cards made of glass and German-based bank Trade Republic offers a metal credit card polished to look like a mirror. Revolut offers a reinforced steel card in rose gold and lavender, among other colors. And wooden credit cards have gained popularity amid sustainability-minded consumers.
Portfolios that deploy metal cards are growing rapidly as financial institutions and fintechs look to create an elevated brand experience for their customers, Wilks said. “It helps create stronger acquisition of new customers and it helps drive spending for the cards becoming top of wallet. Those two drivers … are the lifeblood of the credit card business.”
Read the full article: Why ‘green’ cards are falling short of revenue expectations
