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Venue

Omni Orlando Resort at ChampionsGate
1500 Masters Blvd
ChampionsGate, Florida 33896

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Thursday, May 10, 2012

3:50 PM - 4:35 PM
Track: Card Trends and Opportunities View Track

THE REBIRTH OF CREDIT - MINUS THE DEBT

Rikard Bandebo, VP, Economist and Chief Advisor, FIRST DATA ADVISORS
Ajay S. Mookerjee, EVP, Consumer and Small Business Credit Card, SUNTRUST BANK

Consumers fled credit cards during the Great Recession, paring down debt and relying on signature and PIN debit to fund purchases. However, since the beginning of 2011, consumers have begun to spend with credit cards again. Analysis of First Data's proprietary SpendTrend data shows that this shift has potential to continue, and is taking place with less of an increase in consumer revolving debt, which traditionally has been the case. Merchants and financial institutions (FIs) must align to provide new experiences based on a combination of marketing, support and product offerings that leverages consumers' new mentality, as well as demand for multi-channel products.This presentation will address how the evolving usage patterns for credit offer both challenges and opportunities.  You’ll hear why consumers returned to credit; new purchasing trends; and the impact on the business.

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