FCA Bank Launches a Jeep-Branded Credit Card
FACTS
- As they just unveiled their pay-per-mile long-term rental solution, Jeep Miles, FCA Bank also launched a new credit card for Jeep customers.
- Goals: provide Jeep Miles customers with access to exclusive advantages.
- FCA Bank is a Joint Venture between Fiat Chrysler Automobiles Italy and Crédit Agricole Consumer Finance. Their new Visa card can entirely be subscribed and managed online, and it gives Jeep Miles customers 1,000 km for free.
- No fees will be charged the first year and the following years if it is used to make at least €1,500 in annual purchases. Customers also get a lower-than-market interest rate on their revolving debt.
- Among features and benefits:
- My Budget: for choosing a default payment method (debit or credit) based on customers' spending capacity.
- My Control: for enabling and disabling e-purchases, cash withdrawals and use abroad.
- The amount of the monthly instalment can be changed repeatedly in a single day, up until the last day of the month. This amount may range from €100 to €1,900, with increments or decreases of €50.
- A loyalty programme allows access to exclusive discounts on a large number of products, including Jeep merchandising.
- For now, this offer is only meant for Jeep Miles customers in Italy, but will soon be made available to Alfa Romeo customers.
CHALLENGES
- Aiming for diversification. FCA Bank still focuses on development and diversification processes with a new credit card. The first version of the FCA Bank Visa card was introduced in February for customers of their other brands.
- Praising a digital strategy. FCA Bank stresses a shift toward becoming a digital bank. Their credit card comes with a full-digital subscription process and one-click digital signing.
- Securing customer loyalty. This card offer enhances their Club FCA Bank programme. And it is a means to improve customer relation. They provide their customers with more flexibility when it comes to repayments. Besides, FCA Bank encourages card use through pairing it with a pay-per-mile leasing offer.
MARKET PERSPECTIVE
- With diversification and growth in mind, this financial arm tries to hit success again, as was the case when they introduced their savings product “Conto Deposito”. Conto Deposito was launched in 2016, and stands out as a successful full-digital product.