卡片發行企業概況︰Capital One

Abstract

Summary

Introduction

Capital One has grown from being an innovative and balance-chasing monoline card issuer in the US to a fully fledged financial services provider with an international presence. This profile focuses on Capital One' s card operations, highlighting the product strategies and market positioning behind its development, as well as its outlook for the future.

Key reasons to purchase this research

• Gain a detailed understanding of Capital One' s strategy and approach in the card market, and apply the lessons from this to your business.
• Learn how this strategy positions Capital One for the future and where its biggest opportunities may lie.
• Compare Capital One against other leading global issuers using Datamonitor' s unique Competitor Benchmark.

Table of Contents

OVERVIEW

• Catalyst
• Summary

CAPITAL ONE

• Key findings
• Company overview
  • Background
  • Ownership and Management
  • Company structure
  • Geographic coverage

• Strategic focus
  • Capital One has transformed itself from a monoline to a fully-fledged financial services provider
  • In its card issuing business Capital One has refocused on transactors as opposed to revolvers
  • In the UK, Capital One' s strategy has focused on attracting new cardholders by offering competitive balance transfer offers
  • In Canada, Capital One' s strategy involves offering a range of cards for different types of consumer

• Card statistics
  • Number of cards
  • Balances outstanding

• Key financials
  • Profit and loss account
  • Balance sheet

• US card product offering
  • In the US, Capital One has a wide range of cards
  • Capital One has a ‘No Hassle' loyalty program in the US
  • The high end cards in the US have added services and benefits for the cardholder
  • The interactive Card Lab online tool allows customers to tailor their products
  • Capital One offers a range of exclusive incentives to its cardholders in the US
  • Capital One has an extensive product offering for business clients that mirrors its consumer cards

• UK and Canada card product offering
  • In the UK Capital One has a far more limited range of credit cards
  • In the UK, cardholders can select the appearance of their Capital One card
  • In Canada Capital One' s range of cards is extensive and demonstrates the same strategy as in the US
  • In Canada, two of Capital One' s cards track the base rate

• Company outlook
  • Capital One' s acquisitions have potentially placed it in a stronger position to survive the downturn
  • Despite the downturn Capital One is seeking to boost its businesses through acquisition
  • Overseas it seems that Capital One will continue to grow in Canada and struggle in the UK
  • Expansion to emerging markets is a possibility and is becoming increasingly important
  • Capital One has yet to enter the co-branding arena and may now be too late

• Datamonitor Competitor Benchmark

APPENDIX

• Definitions of terms used in this report
  • Charge card
  • Co-branded card
  • Commercial card
  • Credit card
  • Premium cards

• Data relating to the graphics in this profile
• Methodology
• Further reading
• Ask the analyst
• Datamonitor consulting
• Disclaimer

TABLES

• Table: Capital One board of directors and key employees, 2008
• Table: Capital One' s classification of credit ratings in the US
• Table: Examples of Capital One' s card offering in the US, 2009
• Table: Capital One business card offering in the US, 2009
• Table: Capital One credit cards in the UK, 2009
• Table: Capital One credit cards available in Canada, 2009
• Table: Scorecard logic, part one
• Table: Scorecard logic, part two
• Table: Capital One' s income statement, 2004 - 07
• Table: Capital One' s balance sheet, 2003 - 07
• Table: Capital One' s cards in issue, 2003 - 07
• Table: Capital One' s credit card outstanding, 2003 - 07
• Table: Capital One' s US card business transaction values and balances outstanding, 2003 - 07
• Table: Current relevant publications, 2008-09
• Table: Future relevant publications, 2009

FIGURES

• Figure: Capital One has evolved from a monoline issuer to a fully fledged financial services supplier between 1995 and 2007
• Figure: Capital One' s business structure is organized into two main areas, 2009
• Figure: Capital One has a limited global presence, 2009
• Figure: The Capital One business has diversified, 1999 - 2006
• Figure: Capital One' s US Card segment charge-off and delinquency rates have risen, Q2 2007 - Q4 2008
• Figure: Transaction values have grown more quickly than outstandings, Capital One, 2003 - 07
• Figure: Most of Capital One' s cards are in issue in the United States, 2003 - 07
• Figure: Outstandings in the US have declined in 2007, 2003-07
• Figure: Capital One made a loss of $46 million in 2008, 2004 - 08
• Figure: Capital One' s balance sheet has grown with the acquisitions of Hibernia and North Fork, 2003 - 07
• Figure: Capital One' s reward programs are marketed for No Hassle rewards, 2009
• Figure: Capital One Card Lab portal, 2009
• Figure: Capital One Saving Zone provides its cardholders with exclusive offers on items bought online, 2009
• Figure: Capital One cardholders in the UK can choose the appearance of their credit card
• Figure: Datamonitor Competitor Benchmark, Capital One, 2009