Posted by Barry Silverstein on July 15, 2010 01:30 PM
In a sign that brands are not only listening to consumers but acting on their suggestions, Chase Card Services, a division of JPMorgan Chase, along with InterContinental Hotels, has launched a credit card designed by frequent travelers.
The Priority Club Select Visa was developed using direct feedback from consumers received through a private online community made up of members of Priority Club Rewards, the loyalty program of InterContinental Hotels Group.
Chase and IHG, partnering with branded community-builder Communispace, created a private online forum where they could have direct and ongoing conversations with customers in real time.
As a result of customers' input, the new card offers such benefits as a best-in-class annual free hotel night certificate and a 10% rewards rebate feature.
"Our goal was to create a card that delivers the strongest possible value to Priority Club members," commented Tony Glover, SVP of Chase Card Services. "Customers are our best resource, so we listened to them. Their candid feedback helped solidify and prioritize features and benefits."
Lincoln Barrett, VP of guest marketing and alliances for InterContinental Hotels Group, added, "Leveraging conversations through our private online community ultimately delivered a product that will get our members to their travel rewards even faster than before and we know they'll find significant value in that."
Jointly promoted credit cards are common, especially in the travel industry. For example, a current American Express Delta credit card promotion offers increased miles and waived fees on the first checked bag. Affinity cards — credit cards that are offered by companies, organizations, sports teams, or universities — are also a popular way for consumers to get credit while supporting an entity with which they're affiliated in some way.
The unique thing about the Priority Club Select Visa card, however, is the integral involvement of customers in the card development process. Expect to see more of this kind of customer collaboration in the future.