Credit card use for large purchases

Greg has a credit convinced him to get it when he went in to get a new debit card. It seemed like a good idea at the time — the bank was offering a reasonable interest rate and a long period of interest-free use. The card didn’t have his name on it and he was able to receive it the same day.

Greg didn’t plan to use the card regularly, but decided to keep it in case he urgently needed money.

Greg loves fishing. Just before the start of the fishing season, the engine of his boat broke down. Getting a new engine was an expense way outside the family budget. But fishing wouldn’t be the same without a boat, so Greg decided not to put it off and pay for the purchase with his credit card.

Two months later he received a notification that the interest-free period would soon end. He had three ways to replenish the card: through an ATM, by transfer from a card from another bank or via NDA-Online. Greg tried to understand how to use the app, but in the end he made the payment in an ATM on his way home from work.

How does Generation X rate the experience of replenishing a credit card?

Convenient

Inconvenient

How does Generation X prefer to replenish a credit card?

Through NDA-Online

Through ATMs

Transfer from another bank

Although the card came in handy for the purchase, Greg found the concept of payment by credit stressful: Greg and Claire have been wary of loans and debt since they were young. As a result, they decided to start setting aside money for unforeseen expenses and cancel the credit card.

They had to go to the bank twice, first to cancel the account and then to cancel the card. They had to wait in line quite a bit. But despite all this, it was relatively easy Overall, Greg was satisfied with his experience of — the boat got a new engine and a new category appeared in the family budget.

Frequency of credit card use forlabelsome-error Generation XGeneration YGeneration ZBaby Boomers

From time to time, when they’re short on money
As their main payment method (for daily purchases)
To make a large purchase

from time to time, when they’re short on money

as their main payment method (for daily purchases)

to make a large purchase

from time to time, when they’re short on money

as their main payment method (for daily purchases)

to make a large purchase

from time to time, when they’re short on money

as their main payment method (for daily purchases)

to make a large purchase

from time to time, when they’re short on money

as their main payment method (for daily purchases)

to make a large purchase

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Explore the customer experience of other generations

Baby Boomers

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Generation Z

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We create products for real people

Harold and Patricia

Baby Boomers, 55+

All my money is in cash. It’s more reliable.I keep my savings in deposits.I often go to the bank. The staff there are always willing to help and give advice. It’s more pleasant to communicate with a real person.

Greg and Claire

Generation Х, 41–55

I use cash most of the time. I use my card occasionally.I go to the bank when I need help from a teller or to get documents.I use banking apps but they can get pretty confusing — it’s not always clear which option to choose.I’d like to have more ATMs around and I’d like them to function well.

Ryan and Monica

Generation Y, 26–40

Doing everything through the app is easy, so I only go to the bank when the issue can’t be resolved remotely. Ideally, I wouldn’t have to visit the bank at all.All my money is on my card. It’s much more convenient! I linked my card to my phone so I no longer need to carry a wallet.Everyone’s investing these days, and so am I!I often transfer money and I think doing so should be free.

Victoria

Generation Z, 18–25

It’d be cool to learn how to invest.I want to get cashback every month! It’d also be great to have more categories for it.I never use cash. I always pay with my smartphone.The most important thing is a user-friendly mobile app where I can manage my money, buy movie tickets and make an appointment to a beauty salon.

A deep understanding of customer experience will help us create and develop products with precision, based on the needs and expectations of each individual.