Empowering customers to receive more line increases
Product: iOS & Android | My Role: Lead Product Designer | Timeline: 3 months | Company: Mission Lane
Intro:
Mission Lane’s card marketing promises a customer that they will be evaluated for a credit line increase (a CLIP, shorthand) if they make 6 on-time payments and their account remains in good standing, but provided no guided experience to ensure their customers were able to realise this goal.
The Problem
👎 The most common complaint ML receives is around CLIPs and customers being disappointed for not receiving one
👎 This impacts loyalty over time, and contributes to people using their cards less
✨ It’s imperative that ML delivers on its marketing promise, the first touchpoint a customer has with our brand
The Team
✅ PM
✅ UX Copywrier
✅ Research Partner
🙋♀️ Designer
✅ Dev Team (contractors)
The Results
✅ Delinquency rates were down, on average, 30% in test v. control group across all classes
✅ Higher approval rates overall for CLIPs: 84% v. 75% due to fewer delinquincies
🤔 Utilisation was slightly lower in test v. control group (6%)
💡 Hypothesis: “second order effect”? Customers being more mindful about making payments on time and not overusing their credit card
The Process
The Solution
I built a tracker with a straightforward, linear way to track your progress immediately upon receipt of your card
The Solution
The tracker includes clarity around what it means to have an account in good standing
The Solution
I collaborated with our UX copywriter to be sure the copy was encouraging and clear, meeting customers where they are
The Results
Our team (and leadership!) was very encouraged by the below results. Especially given the macro-economic context of the Fed raising rates, continued improvements to the tracker were added to the roadmap.
✅ Delinquency rates were down, on average, 30% in test v. control group across all classes
✅ Higher approval rates overall for CLIPs: 84% v. 75% due to fewer delinquincies
🤔 Utilisation was slightly lower in test v. control group (6%)
💡 Hypothesis: “second order effect”? Customers being more mindful about making payments on time and not overusing their credit card
If you'd like to see an overview of all the work I did over 2.5+ years at Mission Lane, please click here
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