A reinvention of the credit card
Group Project | 2 Week Sprint | Brand Strategy, Product Strategy, Visual Design
In 1985, Discover issued a no annual fee credit card with higher than normal credit limits disrupting industry norms. It continued to innovate in the credit card world by introducing the now widely practiced “cashback” rewards.
Today Discover struggles to make a lasting mark in the consumer’s wallet as competing brands offer similar or even better options.
stuck as a starter card
When diving into what people thought about Discover, we found that Discover had a strong image as a 'Starter Card': A card for people with little to no credit.
Like Joe. A 25 year old student we talked to who was grateful to Discover for opening a line of credit for him when very few other credit issuers would give him approval.
The problem? He was willing to start with Discover, but was less inclined to keep using it once he qualified for other cards with more prestige and better rewards.
The entire process of applying and using a credit card and its benefits is shrouded in a lot of mystery. The choices are many and the logic behind who gets approved on what kind of conditions is unclear.
There’s no one guiding the credit card applicant in a manner that is customized for each individual’s best option, so individuals are left to research on their own what’s best for them.
That task proves to be difficult when there are hundreds of cards out there.
What if Discover could be the credit card that figures out the best option for you?
A card you grow with, not graduate from
A new type of credit card that helps you build better financial habits and credit status while seamlessly upgrading to better benefits that match your credit and lifestyle.
Instead of leaving it to the credit card user to figure out when they can apply for a better credit card with better benefits, the Discover Color card helps them build better financial habits while using the card and as their credit score grows, the color card allows you to add on better benefits to your current card.
No need to stop using your old card, because it's gotten an upgrade, and no more hassle of figuring out when, how and which card to choose.
Color by Discover
HOW IT WORKS
A single card to stay with you as you grow
Tiered benefits that upgrade your card based on credit score
Easy budgeting with mobile app to give control over spending
During our interviews, we heard that having a low credit limit when they received their first credit card was actually helpful in helping them budget.
“I had a credit card with a limit set to $500 and they raised it, but I wish they hadn’t. I liked keeping my limit low so I could control my spending.”
We wanted to apply this concept as a feature to allow people to have the same control over their expenses, boosting budgeting skills which is critical to financial health while not limiting their ability to grow their credit line.
HOW WE GOT HERE
Current product audit/assessment
Man on the street interviews
User Journey mapping
Visual and verbal branding
Sarah Matheson Harris (ST)
Chorong Kim (ST)