Holly, my 20 year old daughter, was recently issued a new bank card for access to her current account….it also doubled as a credit card. Now the thing is she didn’t actively ask for the credit facility (approx $3,000) but didn’t think to say “no thanks.”
Subsequently she found out how easy it is to draw cash from the ATM on the credit facility. I freak out…explain the 20% interest thing and encourage her to go down the branch to remove the credit line.
Holly phones me from the branch and tells me that the guy behind the counter is patronising & confusing. I suggest she talks with someone else. She finds herself dealing with a mum who has late-teenage children, understands Holly’s ‘concern’ and whips the credit away. This spawns my idea.
If you could match your consumer’s needs and level of financial acumen with the life-stage experience of branch staff wouldn’t that be good? It happens at a business banking level so why not at this crucial stage when the use of credit needs to be carefully managed.
A marketing opportunity right there.