Card Loyalty and 'prestige'

CopperPlate_2

The thing is the providers must know that a large number of people want to appear to have/be something that they are not. Isn't that what the fashion industry is based on!?

M&S is a case in point. The blurb they send out with their &MORE card goes on about "chic", "stunningly", "envious looks", etc. When, let's be fair, it's a credit card from a high street retailer. Not a limited edition card from a private bank. The point I was raising was that the providers know how to tap into our wants/needs, etc - I was interested to know how far people were prepared to use/hang onto a card that gave them that "special feeling/privileged feeling" when there were other cards available that gave them a better financial deal but looked like it had come off the back of a cereal packet...

Seems there's a breadth of opinion on it though. Especially when black cards are issued by MS, M&S and various other "mainstream" providers.

mrcow

CopperPlate wrote:

The thing is the providers must know that a large number of people want to appear to have/be something that they are not. Isn't that what the fashion industry is based on!?

And you've just hit the nail on the head! :rotfl:

The day when you go out and feel that the colour of your credit card gives you more prestige in front of a shop assistant or waiter should be the same day that you realise you should probably be doing something more interesting with your life



Most people couldn't give a ratty about whether your card is black or not! They're probably too busy wondering what they're going to be doing next friday night.

A decent 0% or cashback offer on the other hand is something to feel good about! :rotfl:

CopperPlate_2

mrcow wrote:

And you've just hit the nail on the head! :rotfl:

The day when you go out and feel that the colour of your credit card gives you more prestige in front of a shop assistant or waiter should be the same day that you realise you should probably be doing something more interesting with your life

Most people couldn't give a ratty about whether your card is black or not! They're probably too busy wondering what they're going to be doing next friday night.

A decent 0% or cashback offer on the other hand is something to feel good about! :rotfl:

Too true. I'm looking at it from the perspective of the providers - as I've said, the industry plays on peoples insecurity and needs/wants.

I'd much rather have a decent rate of cashback than get a rawer deal from a flashy card. Black or silver, makes no difference. Might as well be green if it pays 1% or more

Astaroth

GunJack wrote:

Astaroth (btw I play SC-II as well, Ivy any time in that outfit !!), when you say the requirements for gold, plat etc. are so low, compared to what ? When I got Co-Op plat base rate tracker they ask for min £25k salary, so I'm just wondering what you mean, or have I missed something somewhere?

Have to play SC-II at some point to see what people are talking about when they see my name.

What I ment is that, compared to 15 years ago, the level of salary required for all cards (other than black) in both absolute and relative is much lower than it used to be. When I worked in a call centre on £15.5k I was given Gold and just after leaving that job I was given a Platinum card. 20 years ago my father was a middle-senior manager with an oil company on a very healthy salary and only got a gold card after several years of trying and never got to the threashold for platinum.

I guess the current bounderies show that it isnt quite right any more (£20k gold, £25k plat, £80k black) esp when you consider most lenders will give the cards early anyway (other than black)

eagle

GunJack wrote:

the 'black' cards Astaroth et al are referring to are only given out to people on whopping salaries and are prepared to pay a hefty fee for the privilige, and give various high-prestige benefits, e.g. discount at posh restaurants and suchlike. The design on your MStanley or whatever just happens to be black, and not a reference to the status of the card.

So, basically what you're saying is that Balck is the new Platinum?

Treadmill

I know an attitude of wishing to impress by having a presitgious card is pathetic and plays right into the credit card companys hands but its a tough habit to break, the same as wishing to have a decent mobile phone on a contract not PAYG etc.

This is why people like myself are in debt, low self esteem maybe.

mrcow

Treadmill wrote:

I know an attitude of wishing to impress by having a presitgious card is pathetic and plays right into the credit card companys hands but its a tough habit to break, the same as wishing to have a decent mobile phone on a contract not PAYG etc.

This is why people like myself are in debt, low self esteem maybe.

lol does that mean I have high self esteem? I don't currently have any credit cards and my phone is a second hand one from my sister which I top up with less than £10 per year

I don't think it's to do with self esteem, more with clever marketing (just like with the mobile phone companies as you point out). These companies know what sells and have a lot riding on it.

With reference as to why so many are in debt these days, again I think it's to do with the whole "I want it now and I can have it now" culture. Credit cards do have a lot to do with this but it's a mindset that the general UK population (including myself lol) has these days.

Am I going off topic?

other

GunJack wrote:

Astaroth (btw I play SC-II as well, Ivy any time in that outfit !!),

isn't she 50 something?

I have to say the design and status of the card is a bit like fashion It's not a bad thing tho, it does give us some choice to have a card matching my outfit.....I don't think I would dream of handing over an Egg Money card at a properly posh restaurant.....

mrcow

other wrote:

.....I don't think I would dream of handing over an Egg Money card at a properly posh restaurant.....

......even if it matched your shoes? :rotfl:

Astaroth

eagle wrote:

So, basically what you're saying is that Balck is the new Platinum?

No, black cards have been around for a long time it is just they have exceptionally high requirements (normally salary £80k+ before they will even consider you, getting accepted normally requires much higher) and so arent really discussed much.

Platinum are generally now the new standard cards where as Black have (for now) remained the Black cards.