Comperemedia’s Chief Insights Officer, Andrew Davidson is well known for sharing the latest insights on financial services products and marketing strategies/innovations on his LinkedIn, as an event speaker and as a host on Mintel’s Little Conversation podcast. In this bi-weekly recap, he will provide you with the latest news and insights happening in the financial services industry.
Here are the 5 things you need to know:
1. SoFi partners with Sensible Weather
SoFi has teamed up with Sensible Weather, a climate risk technology company, to offer SoFi Plus members 15% off Sensible Weather’s Weather Guarantee.
That means travelers can get reimbursed for bad weather—rain, extreme heat, and more—without canceling their plans.
- Automatic reimbursement with NO CLAIMS PROCESS and coverage for everyday of your trip.
- Sensible Weather monitors the weather for unexpected rain or high temperatures and sends a text initiating a claim.
- Sensible Weather’s Weather Guarantee costs 8-12% of “your total shopping cart size” and “reimbursement amounts vary and are defined at the time of booking.”
Source: Comperemedia Omni [01/1/2025 – 02/28/25] as of 3/01/2025
💡Innovation and value
- New types of partnerships. As banks expand into the travel space, collaborating with innovative tech startups like Sensible Weather creates unique, value-driven offerings. Financial institutions that embrace these non-traditional partnerships can differentiate themselves by addressing real consumer pain points in new ways.
- Doubling down on value. SoFi continues to enhance its SoFi Plus membership, strengthening its focus on maximizing tangible benefits for members. In an increasingly competitive market, offering meaningful, everyday value is key to driving retention, deepening engagement, and fostering long-term loyalty.
2. NerdUp by NerdWallet to be discontinued
Affiliate Retreat? The NerdUp Secured Credit Card by NerdWallet is no more.
A year ago, I wrote about the launch of the NerdUp Secured Credit Card by NerdWallet, which followed a wave of affiliate sites diversifying into their own financial services products.
Now, NerdWallet is no longer accepting applications and the program will close for good on April 21, 2025.
Source: NerdWallet
💡The affiliate dilemma
- Avoiding conflict was always a challenge. While no official reason has been given for the closure, the card’s launch stirred controversy due to potential conflicts of interest with NerdWallet’s credit card advertising partners. This reportedly led to a restrained marketing approach which may have hampered its growth. After all, you have to get the word out somehow!
- The brand question remains. At the time, I wondered whether well-known affiliate brands could successfully transition into trusted financial service providers. NerdWallet’s secured card was meant to be a first step, possibly leading to broader offerings, similar to moves made by Credit Karma and Experian. The jury is still out but significant headwinds remain for affiliates looking to diversify their offerings in this way.
3. The new Aven Asset Visa Credit Card
Aven has launched a new credit card with a unique value proposition: purchases are secured by the very goods cardholders buy.
The Aven Asset Visa Credit Card has been promoted in stealth mode for a few months but recently the card name has been featured more prominently in targeted marketing.
This is NOT the Aven card you think you know that is backed by home equity. This card is “backed by the goods you buy to give you low APRs.”
- 3% cash back (up to $10K) then 2%!
- No annual fee
- APR: 9.99% – 19.99%
- 0.25% APR reduction for enrolling in AutoPay (great idea!)
- Stainless steel card
- Opportunity to upgrade to the home equity card for lines up to $250K
Source: Comperemedia Omni [01/1/2025 – 02/28/25] as of 3/01/2025
💡Rethinking secured credit
- Secured card innovation. We’ve seen a ton of secured card innovation in recent years but this is truly creative. Only the purchase of goods as defined in UCC-9-102 are secured by the card. e.g., electronics, furniture, vehicles, sports equipment, etc and Aven will receive a “security interest” in each good purchased (which means potential repossession) but you can use the card for anything so some purchases will be unsecured. The idea is to use the security feature to reduce risk and keep rates low.
- Who is this for? This is an interesting one. Based on the value prop, the card is for consumers with good (but not necessarily the best) credit scores looking to make a large purchase and pay over time. The marketing doesn’t give much away in terms of selling the idea of the card, but with a powerful message of 3% cash back, maybe it doesn’t have to.
4. U.S. Bank launches the Shield Visa Card
New Card Alert!
U.S. Bank just BLEW THE COMPETITION OUT OF THE WATER with the launch of the new Shield Visa Card, which features a 0% teaser rate for 24 months on purchases and balance transfers.
“The perfect card for the consumer motivated by value, protection and security” – Steve Mattics, head of credit card and debit products at U.S. Bank.
- 0% intro APR on purchases & balance transfers for 24 months
- 5% BT fee
- No annual fee
- 4% cash back on travel booked via U.S. Bank’s Travel Rewards Center (Unique for a market-leading BT offer!)
- $20 statement credit after making 11 consecutive months of purchases (Also unique!)
- APR: 17.74% to 28.74%
- Protection benefits: 1) Cell phone insurance 2) Car rental insurance 3) Extended warranty 4) Purchase security for theft/damage
Source: U.S. Bank
💡 Shielding borrowers
- Defying the tide. The last time we saw 24-month 0% intro APR offers was in early/mid 2022, before the Federal Reserve began raising rates. Today, credit card APRs are high but have been declining. The best current offers max out at 21 months and those are dwindling. U.S. Bank is breaking the mold with a 24-month teaser rate that outlasts most competitors by 6-9 months.
- Shielding consumers from uncertainty. With persistent inflation, high borrowing costs, and a cautious consumer mindset, financial security is more important than ever. The Shield Visa Card isn’t just a name – it’s a signal of protection and stability in today’s uncertain financial climate. Why replace the Platinum Card? Because “Platinum” doesn’t tell a story. Shield conveys protection, stability, and smart financial management – a perfect fit for today’s cautious consumers.
5. Wyndham launches a co-branded debit card
Wyndham Hotels & Resorts has launched a US industry-first hotel rewards co-branded DEBIT CARD in collaboration with SoFi’s Galileo Financial Technologies.
At Comperemedia we tracked nearly 3 million emails going out to loyalty program members promoting the new card on day one.
Target: Younger travelers as well as those who prefer a debt-free lifestyle.
- $6 monthly fee (waived if you maintain a balance of $2500+)- Gold member status
- 2500 bonus points for setting up direct deposit and spending $100 in 90 days
- 1X points at Hotels by Wyndham + gas + grocery purchases
- 0.5 points on other purchases
- Anniversary bonus of up to 7500 points based on spend
- Cardmember booking discount
- No ATM fees on the Cirrus network
Source: Comperemedia Omni 03/18/2025 as of 3/19/2025
💡What I got wrong and what I got right?
I speculated about this after SoFi’s CEO Anthony Noto mentioned that a launch was imminent on the last earnings call, but gave limited details.
❌Not Hilton! I suggested it might be Hilton because last September, Hilton launched what it claimed was “the world’s first hotel loyalty debit cards” in the UK in partnership with the fintech Currensea. The cards leverage open banking to connect with customer bank accounts (18 banks are supported) and have generated some buzz. Wrong! Instead, we have Wyndham and a different model. This is not open banking Currensea-style. The Wyndham Rewads Debit Card is based on an FDIC insured demand deposit account with Sunrise Banks. It functions like a traditional checking account and funds are drawn directly from the available balance.
✔Trend confirmed! I speculated that this was an EARLY signal of a new trend. Airlines and hotel loyalty programs have struggled to engage younger consumers and debit cards offer a new entry point to expand opportunities for members to earn and spend rewards. Given that this is not Hilton, it further validates the signal and gives this trend further momentum and it’s just a case of who’s next?
