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Despite a constant search for new revenue and clients, the credit, debit and prepaid card industries have largely overlooked the African American market as an attractive segment. The recent and understandable enthusiasm for the opportunities afforded by the Hispanic market has eclipsed the strong growth potential of the 37.5 million strong African American market, which enjoys higher household income levels than Latinos. In addition, African Americans claim great receptivity to market communications from financial services companies.

African American income levels are rising faster than average with close to two million African American households registering incomes of at least $75,000. The aggregate income of most affluent Black families is at $116 billion and climbing. The number of African American homeowners has grown by a third in the last decade.

There are comparatively few affinity, co-branded and reward cards targeted specifically to the African American community. This is true for both credit and debit cards. However, the high level of unbanked and underbanked helps explain the introduction of affinity and co-branded prepaid cards marketed primarily to the African American community.

Report Methodology
Census Bureau data cited in this report include the March 2006, 2005 and 2004 Current Population Surveys as well as a number of updated estimates and analyses of the African American population released by the Census Bureau in 2005. Other U.S. Government sources include the Consumer Expenditures Survey of the Bureau of Labor Statistics (BLS) and various data bases maintained by a range of other agencies including the U.S. Center for Education Statistics and the U.S. Department of Commerce.

Packaged Facts also relied on data compiled by Simmons Market Research Bureau (New York, NY) in its fall 2006 consumer survey, which is based on 24,467 respondents.

About the Author
Luis Clemens is a former CNN bureau chief who now specializes in reporting on multicultural marketing and media. His work has appeared in trade publications such as Broadcasting&Cable, Card Technology, Multichannel News and Prepaid Trends. Clemens is widely considered an expert on pay television networks targeting African American, Asian American and Latino audiences.

How You Will Benefit from this Report
African American Credit, Debit and Prepaid Card Users: Undervalued and Overlooked, a new report from Packaged Facts, offers an in-depth look at card usage patterns among African Americans. The report provides an overview of the African American community in the U.S., including a look at financial trends in the African American consumer market, and key demographic characteristics of the African American population. In addition, the study provides extensive analysis of attitudinal drivers, credit and debit card brand preference as well as monthly versus yearly credit and debit card usage. Lastly, the report explores the growth factors, insights and risks associated with intensive targeting of African-American users.

This report will help:

• Marketing Managers identify market opportunities and develop targeted promotion plans.
• Research and development professionals stay on top of competitor initiatives and explore African American attitudes and behavior re: card products.
• Advertising agencies working with clients in the card industry understand the African American buyer to develop messages and images.
• Business development executives understand the dynamics of the market and identify possible partnerships.
• Information and research center librarians provide market researchers, brand and product managers and other colleagues with the vital information they need to do their jobs more effectively.

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