Empowering customers to receive more line increases

Product: iOS & Android | My Role: Lead Product Designer | Timeline: 3 months | Company: Mission Lane

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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

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The Solution

I built a tracker with a straightforward, linear way to track your progress immediately upon receipt of your card

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The Solution

The tracker includes clarity around what it means to have an account in good standing

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The Solution

I collaborated with our UX copywriter to be sure the copy was encouraging and clear, meeting customers where they are

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Increase

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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