You may not recognize the name “third-party comparison” websites (TPC), but you most likely have seen these firms operate under the trade names of Bank Rate, Credit Karma, and Credit Sesame, to name a few. Some consumers find these sites helpful as they consider new credit cards. And for credit card issuers, TPCs are a channel to book new accounts, the lifeblood of every credit card organization.

This report is concerned with the dynamic between credit card issuers and third-party comparison websites, which are sites not owned or operated by issuers that provide information about credit cards in aggregate. Through a variety of proprietary methodologies, often including an analyst team, these websites track and rate credit cards as well as several other financial products. The goal of TPC websites is to drive customers toward applications with their partners, which in turn pay these sites for their efforts in acquiring new customers. Some sites disclose their commercial relationships as issuer affiliates and receive cash bounties for new accounts. This may influence where prospective cardholders are driven or prioritize offers in favor of the partner.

TPC websites are a more robust form of affiliate marketing, and the marketplace has evolved to several large contenders. In today’s market, we found that 16% of customers use TPC in their research journey for a new card product, which is particularly skewed toward top credit card issuers.

Key questions discussed in this report:

• How are customers using digital services to research credit cards?
• How are TPC websites contributing to digital marketing efforts?
• How successful is the TPC model?

Companies mentioned:

American Express, Bank of America, Bank Rate, Barclay card, Bitmatica, Cardrates.com, Consumer Financial Protection Bureau, Chase, Citi, Credit Karma, Credit Sesame, Credit.com, Digital Brands, Discover, Evolution Finance, Federal Trade Commission, Intuit, Lending Tree, Nerdwallet, Red Ventures, The Points Guy, Wallet Hub, Wells Fargo