Competitive Compass

As consumer confidencesoars, so doescredit card demand—but it’s not just about more applications. It’s aboutwho is applying and why.

📊Here’s what’s happening in the market:
✅More credit card applications: Strong economic optimism is pushing more consumers toward credit.
✅Gen Z is leaning into credit: 40% would rely on credit if they had to tighten their budgets.
✅Spending isn’t slowing down: Travel, home improvements, and big-ticket purchases remain top priorities.

💡Why it matters:
Card issuers are doubling down ontargeted rewards, AI-driven marketing, and digital-first engagement to capture this demand. As consumer spending habits evolve, brands mustalign their acquisition strategies with real behavioral insights to stay ahead.

-       A New Era of Homeownership

-       Shop Smarter, Pay Simpler

-       Financial Services Weekly Digest

-       Smart and Steady

Expanding Marketing, Unwavering

Amex, Cap One, and a few others announced their earnings last week and I want to round out my 2024 Marketing Spend table.

American Express spent over $6 Billion in marketing in 2024 and achieved 13 Million new card acquisitions for the year.

We discussed last week, Chase spent ~$5 Billion and Cap One came in at $4.5 Billion for 2024. Chase also intends to

Our FICO clients can view the “quality” of the accounts targeted and despite the mammoth spend on marketing the quality standards have not loosened and that confirms for me that we are not seeking “acquisition at any cost”. We continue to sweeten the pot (as our Offer Index shows) for

Nick (Antonelli)’s point about not every issuer having the budget of Amex, Chase, or Cap One, rings true in my ears. While the larger issuers have the luxury of large marketing budgets, Bread has been (as well as many others) having success with much smaller marketing budgets as Digital

(If you haven’t seen Andrew’s full interview with Nick, it’s

After Q1 2024 earnings in Trim the Fat, Not the Muscle

 Robust earnings reflect strategic foresight

“Given how strong our results are, I almost feel we should

(BTW: Alex Karp, CEO of Palantir, opened his Q3 2024

 On a more serious note, the 2024 earnings season has kicked off with a roar, and the first wave of bank reports is indicating, we’re in for a streak of record-breaking results. JPM, BAC, C, WFC have set the tone, posting impressive growth fueled by strong consumer activity, strategic investments, and disciplined execution.

But beyond the numbers, a clear narrative is emerging—2025 will be defined by more marketing, digital dominance, and relentless efficiency.

Banks are doubling down on:

·   customer acquisition

·   expanding AI-driven digital ecosystems, and

·   optimizing operations to sustain profitability.

Today at a Glance:

2024 is officially in the books, and the scorecard begins to roll in tomorrow with major earnings reports. As we reflect on last year’s milestones, let’s set the stage with a marketing spend update.

Q4 2024 didn’t just meet expectations—it smashed them. It surpassed even the record-breaking Q4 of 2022, marking the highest post-pandemic marketing spend quarter. The momentum heading into 2025 is palpable, with FIs embracing a "risk-on" mode fueled by all-time high valuations. Historically, strong performance correlates with greater risk tolerance, and we’re seeing that in action through bold marketing moves and product innovation.

Happy New Year! I hope your holidays were both refreshing and inspiring.
As we dive into 2025—the "Year of Possibility";—the pace is already picking up. Our team is back in action, and the momentum is palpable. With a wealth of incredible content in the pipeline, this space promises to keep you engaged (and possibly a little busier than usual). Trust me, it’s worth it.

As I send my last newsletter for 2024, I saved one of my favorite reports for this edition: Nicole Bond and Kaitlin Ceckowski's 2025 Omnichannel Marketing Trends

If you would like to have Nicole and Kaitlin join your first 2025 off-site or team meeting, please let me know, and we can work to get something on the calendar.

The report is amazing, but the presentation is a must-see.

2. “Why So Serious?” — Consumer Fatigue Demands Lighthearted Marketing

Content Consumption

Social media is more than a platform — it’s the primary stage where consumers live, work, and play. With 90% of users engaging on social channels and younger demographics increasingly substituting traditional media for social platforms, the stakes have never been higher for brands. Video dominates this shift, with formats like TikTok and YouTube capturing attention in ways that static content simply cannot. For FIs, the challenge isn’t just being present on these platforms but crafting narratives that resonate in a world where scrolling is constant, and attention spans are fleeting.

Mobile devices are the primary gateway to content, particularly for younger and multicultural audiences. As over half of consumers consider smartphones their main screen, this shift amplifies the importance of agility in campaign delivery and personalization. At the same time, the rise of multitasking means brands must navigate a fragmented landscape, ensuring their messaging cuts through while consumers juggle activities like eating, commuting, and watching TV. The key question isn’t just how to reach them, but how to remain relevant amidst their divided focus.

Trust, however, is in short supply. Younger consumers turn to social platforms for news, even as misinformation proliferates, while older demographics cling to TV but question its objectivity. For brands, this raises fundamental questions about credibility. Can partnerships with trusted influencers or alignment with localized storytelling bridge this trust gap? As audiences grow more fragmented, marketers face the delicate task of finding the right balance between engagement and authenticity in a landscape rife with skepticism.

AI is everywhere—hailed as the cure-all for modern business woes. But when it comes to digital advertising and social media trends, one truth stands out loud and clear: personalization is no longer a luxury—it’s a necessity.

Two new consumer research reports reveal that in 2025, the key to impactful advertising lies in moving from "spammy" to "spot-on," and AI is the engine to make it happen. It simplifies the complex, delivering relevance at scale. Brands that fail to embrace this shift risk not just falling behind—they risk becoming obsolete.

Today at a Glance:

Happy Thanksgiving and Happy Holidays! This season, I’m reminded that true wealth lies in accomplishments and the connections we build—family, friends, and the community of readers like you who make this newsletter meaningful.

Just as I reflected on resilience and growth during the Philadelphia Marathon this Sunday, I’m grateful for the support and inspiration from all of you. From my family to yours, wishing you a joyful holiday season filled with health, happiness, and success.

Today at a Glance:

Private banking and wealth management have taken center stage for banks, with high-net-worth clients driving growth and innovation. At the same time, credit card issuers are increasingly focused on the super-prime segment, with a surge in products tailored to affluent consumers compared to pre-pandemic levels. This shift underscores a clear trend: banks are doubling down on the wealthiest segments, recognizing the outsized opportunity they present in a competitive market.