Final Credit Card

The credit card has been the most universal and preferred means of payment for quite a while but it comes with a ‘pain point’. The Final Credit Card is a credit card which solves the inevitable pain point all credit card owners face.

What is the inevitable consumer pain point?
Most financial institutions offer credit cards that award benefits. It is onerous for consumers to not only select the best-fit card, but even worse, decipher the benefit available through their credit card. There are countless credit cards released every day and each comes with varied benefits. This situation creates a fear of missing out for the consumers who are aware of the rewards, but know securing those rewards is extremely cumbersome. Besides the mental agony, each consumer losses an average of $350 – $400 per year.*
Consumers attempt to resolve this problem
Consumers are obligated to spend via multiple credit cards to maximize their rewards. They must pay with the credit card that provides the best reward in their spend category such as gas, dining, education or shopping. This involves not only carrying a several cards at all times, but the constant guess work required to calculate the rewards can be quite stressful, making this strategy unsustainable.
How is FCC different
The Final Credit Card is credit card product with a back end solution that serves the biggest reward automatically no matter when and where the consumer spends. Standard credit cards offer discounts on purchases ranging from 0.5% to 1.2% on all services, regardless of whether you use them or not. The FCC can substantially extend that range to 0.5% to 5%, customized for services you use, based on your spending habits.
The FCC effect
The Final Credit Card eliminates the effort required by the consumer to carry several cards and select the right card for every situation. Through one card, the FCC, every purchase by the consumer is given benefits which could be up to 10 times higher than standard existing credit card benefits. Card companies will be able to analyze consumer spending habits in real time using the FCC’s back end solution and will be able to give them weighted benefits, significantly increasing their card customer base.
Business model
The FCC is a B2B solution which will be provided to credit card manufacturers.