Demystifying Credit Choices: Improving Transparency and Engagement in CFNA’s Credit Card and Rewards
This research initiative focused on understanding how customers perceive CFNA’s two credit card offerings and the rewards program associated with them. We explored expectations, decision-making moments, and comprehension of both card assignment and the points banking system to uncover key friction points in the user experience.
Participants expressed confusion and frustration about not being able to choose between cards, especially when benefits varied significantly. The lack of clarity around CFNA’s card assignment process contributed to mistrust and potential long-term disengagement. In parallel, the rewards system was perceived as overly complex and opaque—participants described it as a “black box” with unclear redemption paths and limited upfront value communication.
Research Objectives
Examine how customers react to CFNA's two credit card offerings, as well as how CFNA chooses a card for them. Determine the benefits and drawbacks of the two credit card options.
Determine the amount of information needed before and after login to probe customers to apply.
Learn how customers would perceive and redeem the credit card rewards.
Assess and evaluate users understanding of the points banking system offered by CFNA to make the rewards program intuitive and easy to comprehend.
Timeline
3 Months
Research Activities
Evaluative Research, Theme Analysis, Actionable Design Recommendations
Team
UX Researcher (Me)
UX Designer
Research Process
Methodology
Research Questions
Research Methodology
Analysis & Synthesis
Who comprises the different credit cardholders, and what drives their interest in CFNA credit cards?
How do consumers become informed about the available credit card options, and what level of upfront information do they seek? What gaps exist in their current understanding?
How do consumers react when CFNA selects a specific card on their behalf, and how does this influence their decision-making process? Do customers comprehend the type of credit card they've been approved for?
Are customers familiar with the redemption and tracking processes for rewards? What types of rewards are they anticipating with these cards, and what additional details about rewards programs do consumers need?
To capture the most amount of data, I decided to conduct 90 minutes 1:1 user interviews with 20 participants to gain insights into users' behaviors, preferences, and pain points.
Captured all research outcomes into excel sheets and categorized by PIDs.
Organized the data systematically by grouping and categorizing responses into themes.
Identified recurring patterns, themes, and trends in the data. This include common responses, shared experiences, or consistent feedback across different participants.
Based on the patterns and themes identified, generated key insights, prioritized the insights based on their importance and relevance to the research objectives.
Translated insights into specific design recommendations.
User Archetypes
Credit card user archetypes can be divided into 5 types of archetypes. It’s crucial to understand the motivations, and behaviors of these user archetypes to create experiences that meet user needs.
1. Max Payers or Full Payers:
“I am responsible and like to pay my credit card bills in advance. I have never paid interest because I am always on top of my bills. I keep an eye on offers and make the best use of them.”
2. Revolvers:
“I do not believe in paying dues to the full. I pay only the minimum amount due, or little more than that, and go about making purchases on cards as usual. High interest rates do not bother me.”
3. Non-Payers:
“I manage to obtain all the credit cards offered to me, use them all up to the maximum available credit and then not pay up at all.”
4. Traders:
“I am always on the lookout for cards with maximum rewards, cash back, and longest payback tenure. I am on the pry for cards that offer transfer of balance without fee or least interest rate.”
5. Non users:
“I boast about owning all sorts of cards, but when it comes to using them, I just don’t. I stay cautious because I have wrongly used a card.”
Key Insights & Recommendations
2 Card Comprehension
Insight: The website's lack of clarity regarding CFNA's selection of one of two credit card options leads to user frustration upon discovering they received a different card.
Recommendation:
Improve pre-login experience by clearly adding the 2 card options and the process.
Consider using a pre-qualification service or a credit meter to provide customers with information on which cards they are more likely to get before applying.
Card Approval
Insight: Participants were disappointed with the Private Label card instead of the Mastercard but would use it in emergencies like vehicle repairs. They wanted to know why they got the Private Label card and sought ways to add Mastercard benefits or obtain it directly. The decision to keep or cancel the card hinged on discussions with customer service.
Recommendation:
Provide clarification and reasoning for getting one card over the other.
A free upgrade to Mastercard after 6 months of active use and complete payments would encourage customers to continue using the card and reduce cancellations
Rewards Program
Insight: While seeing the transaction history is beneficial, participants were confused and overwhelmed by the reward calculation. They expected to see their current tier and the amount required to spend to upgrade to the next tier on their Account Summary .
Recommendation:
Gamify the experience to clarify the tier level, current status and points pending to reach the next tier level.
