Tandem, the UK-based challenger bank, is looking to appeal to Millennial consumers by recognizing the extent to which they desire freedom of mobility, and the Tandem credit card is a direct example of that. The newly released credit card offers big benefits for spending abroad, which is valuable considering the traveling that many young people throughout the UK routinely do.
Tandem's card offers clear advantages for frequent travelers. Spenders get cash back on every purchase and no exchange fees when they use the card abroad. Considering the UK's proximity to the rest of Europe, those are benefits that young professionals are likely to take advantage of frequently. Tandem as a whole also offers some of the best exchange rates on the market, which is a huge bonus for permanent expats.
Travel-Friendly Credit Cards
The Tandem Credit Card Offers Benefits for Spending Abroad
Trend Themes
1. Frequent Travelers - Opportunity for credit card companies to design travel-friendly cards with benefits for spending abroad.
2. Cash Back Rewards - Opportunity for credit card companies to offer cash back rewards on every purchase to attract Millennial consumers.
3. Low Exchange Fees - Opportunity for credit card companies to eliminate or reduce exchange fees for transactions made abroad to appeal to frequent travelers.
Industry Implications
1. Credit Card Industry - Credit card companies can tap into the market of Millennial travelers by offering travel-friendly benefits and rewards.
2. Challenger Banks - Challenger banks like Tandem can disrupt the traditional banking industry by offering innovative credit card solutions tailored for younger demographics.
3. Foreign Exchange Market - Companies operating in the foreign exchange market can collaborate with credit card companies to provide competitive exchange rates for international transactions.