Chase +1 Credit Card (2005)
College students are highly valued by
credit card companies on the theory that if you hook them early you'll hook them for life.
Traditionally, marketing to students is
formulaic: on-campus tabling, t-shirt
giveaways, spring break lounges. Our
approach for Chase
was novel: we secured an exclusive, multi-year relationship with an online startup that, just six months out of the gate, had 80%
penetration among
college students.
The centerpiece of the program was a new, student-only credit card named "+1" that would reward students with "karma points" both for spending and good behavior (learning about FICA scores, paying bills on time, etc.). Within six months of its launch, the Chase +1 group on Facebook had over 26,000 members and twice the projected full-year card applicants.
Today, the Chase +1 program has become a case study for marketing to college students, and the +1 Facebook group boasts more than 50,000 "fans." Imagine, a US financial institution with fans!
