The Huntington® Secured Credit Card Case Study

Project Overview

The Huntington® Secured Credit Card works like a regular credit card; use it to make payments and build your credit. The only difference is your credit limit is funded by a one-time, refundable security deposit. Unlike a prepaid card, a secured credit card gives you access to features like 1% cash back, free FICO® credit score, and Late Fee Grace®.


Challenges

Credit cards frequently earn a negative reputation due to their potential for high fluctuating interest rates and accruing debt. However, with responsible usage, such as paying balances in full and leveraging available rewards, credit cards can be a valuable tool for building credit and managing finances. Some challenges to overcome included:

  • Helping customers establish, strengthen, or rebuild their credit score.
  • Boost customers' financial literacy and confidence with a secured credit card.
  • Ensure content and final designs balance user and colleague needs.

My Role

I was eager to serve as a content lead for this project. Customers had eagerly awaited the option to own a secured credit card with Huntington Bank, and referring them to competitors wasn't the greatest feeling. My role entailed the following responsibilities:

  • Participate in user testing with bankers and users.
  • Translate users' needs into a convincing narrative.
  • Own content for branch account originations. (BAO)
  • Own content for online account originations. (OAO)

Tools

  • Adobe XD
  • User Interviews
  • A/B Testing
  • Excel

Team

  • Project Managers
  • Legal, Risk, Compliance (LRC)
  • Marketing
  • UX Designers
  • UX Researchers
  • Developers

User Research

We spent a month conducting user testing using the following methods:

  • 30-minute moderated interview sessions with six bankers.
  • 30-minute moderated interview sessions with ten customers.

Interviews with Bankers

The first minimal viable product (MVP) for the Huntington® Secured Credit Card targeted the branch account originations (BAO) flow. This was a colleague-facing flow, designed for internal use only. Customers who chose to open an online account at a local branch had a banker guide them through the BAO flow.

While not a user-facing flow, colleagues frequently shared their screens with customers to ensure everyone was on the same page. During user testing with bankers, my goal was to ask bankers questions that would help me better understand customers' preferences. These were some questions I had for our bankers regarding verbiage for the flow:

1) What are some words that make customers less anxious during the credit card application process? How about after the application is submitted?

2) Are there any words that induce uncertainty or anxiety for customers in this process?

3) Do you feel that the customers you assist are more interested in how a secured card can help build their overall credit score, leading to better loans and paying rent/mortgages, or would they rather focus on getting approved for a traditional credit card?

4) From the perspective of the customer, do you think there is a specific order in which information about this credit card should be presented? What would capture their attention most?

A/B Testing with Bankers

A topic of discussion with the product and design team was how customers would fund their secured credit card. We decided they could choose funding from their Huntington accounts or accounts at another bank. For this round of A/B testing, we focused on scenarios where users fund through their Huntington accounts.

During A/B testing, we presented two funding options: single-source and multi-account. Single-source funding withdrew their security deposit from a single deposit account. Multi-account funding drew their security deposit from multiple deposit accounts.

After completing the Know Your Customer (KYC) portion of the flow, bankers were directed to the funding portion. On the funding page, there was a range for the customer’s credit limit range. From here, customers selected which accounts they wanted to fund their credit card from, and the amount they would like to fund.

My team and I presented two mockups to bankers during user testing with bankers. In both mockups, the presumed user has multiple deposit accounts with Huntington.

Mockup A

This version required customers to select single-source funding. Deposit accounts were categorized into two sections. The first section, labeled, “Select funding source”, displayed Huntington accounts that met the customer's minimum credit limit. The second section, labeled, “Eligible Accounts with Insufficient Funds” displayed Huntington accounts that customers owned but did not meet their minimum credit limit. After the customer chooses an account to fund from, the banker will enter their desired funding amount in the Select Funding Amount field. This funding amount is their credit limit and serves as collateral against their line of credit.

Since mockup A only allowed single-source funding, we included an information box at the bottom of the screen to let bankers and customers know that changes could be made to their account balances in a separate session. Bankers could select the link in the information box to reload the application after adjusting account balances.

Single-Source Funding (Mockup A)

Mockup B

This version focused on multi-account funding. The default UI displays two deposit accounts, but an additional account can be added by selecting the “Fund From Additional Account” link at the bottom of the screen. After the customer chooses which accounts to fund from, the banker will enter the respective funding amounts. Mockup B did not allow changes to be made to account balances.

The Results

A unanimous vote from our group of bankers revealed that Mockup B was a better experience. Although stakeholders were shying away from the idea of multi-account funding for our first MVP, one of our bankers made an excellent point as to why doing so would streamline the whole process:

”Anytime you are doing something with a customer who is unsure about a product or how to build credit…People are a little shy of it. They're scared of it. So, anything that you can do to remove that, to make the process easier, more comfortable for the customer, the better it's going to be. If we have to say, ‘Let's do another transaction, let me have you fill out this withdrawal slip, or let me have your ID again so I can do a transfer in the system.’ You're adding extra steps into something that may be already a little confusing for the customer.”

–Steve, Customer Experience Banker

Multi-Source Funding (Mockup B)

Interviews with Users

To ensure users felt educated and supported, I prepared a PowerPoint presentation designed to empower participants with essential credit card knowledge. I walked users through the benefits, functionalities, and maintenance of a credit card, while also demystifying the crucial distinction between secured and traditional credit cards.
A key focus of my content strategy was to clarify that a secured credit card operates just like a standard one. The primary difference was the security deposit, which acts as customers line of credit and spending limit. I also emphasized that this deposit isn't lost; it's fully refundable when customers close the account or transition to a traditional credit card.

Secured Credit Card slide used in user testing.

User Persona

The Huntington® Secured Credit Card was designed with the 'Aspirer' persona in mind—individuals often navigating financial uncertainties. These users frequently experienced heightened financial stress and held concerns about their financial literacy, sometimes feeling that traditional banking services were inaccessible. We recognized that money played a significant role in their daily lives, and we aimed to address their specific needs. To better understand this perspective, we used the following quote to represent the Aspirer persona:

“I was never taught how to manage money; I don’t have enough money for banks to care about me.”

My narrative and tone was designed to make users feel understood, educated, and supported. The following are some pointers from the Aspirer persona that helped guide my strategy:

  • Where to start and how to avoid making mistakes.
  • Show me progress, no matter how small.
  • Do more so I can do less.
  • Educate me on my options.

Content Strategy

After the first MVP was released, which focused on BAO, we focused on the user-facing online application, known as online account originations (OAO). Unlike the banker origination flow (BAO), the OAO flow could be used at their convenience. However, OAO users didn't have some the privileges that came with the BAO flow. For example, they could not rely on a local branch or banker for immediate support. My content strategy for the OAO flow focused on ensuring customers felt informed and supported without the presence of a local branch. I've selected some quotes from user interviews that supported important myths to debunk in the user-facing flow:

1) A secured card does not function like a prepaid card; it functions like a credit card.

"It kind of feels like you might as well be using a prepaid card from Walmart or something.” ​

–Fred, Huntington user

2) Your security deposit is your line of credit; it lets you use your secured card like a traditional credit card.

“I’ve never heard anything about getting your security deposit back at any time. If it’s a credit card why would you give a deposit?”​

–Jill, Huntington user

3) A secured credit card is designed to help build you up, not hurt you.

“It seems like this card is a bit more of a ‘gotcha’ type of card. It may have some hidden expenses that I didn’t know in the first place.”

–Krishna, Huntington user

Debunked Myth #1

Prepaid Card vs. Secured Card

A prepaid card is more akin to a gift card. Unlike a credit card, prepaid cards aren't linked to a bank account and won't impact your credit score.

A secured card is a credit card. After a credit check is run, if the customer is approved, they'll be given a credit limit range. After securing their line of credit, users can use the card to make purchases, pay off bills, and build their credit.

Debunked Myth #2

Your Security Deposit = Your Money

The modal labeled "Funding Your Secured Huntington Credit Card" was designed to give users a comprehensive understanding of how they'll fund their secured credit card. I wanted users to feel informed without feeling overwhelmed; I strategized content in a bulleted format to achieve this.

The “How Funding Works” section was designed to clearly and concisely take customers through their secured credit card lifecycle. During discussions with stakeholders, it was revealed that there were three general stages to the lifecycle of a credit card. These stages helped shape my content strategy:

1) Learning: The initial stage of first getting a card, focusing on basic usage and understanding billing cycles; often involves learning from mistakes.

2) Building: Developing responsible habits like timely payments, paying off balances, and low utilization to improve credit scores.

3) Optimizing: Strategic use of credit cards to earn rewards, benefits, and financial flexibility– integrating them into a broader financial plan.

The "Here's What You'll Need" section was designed to break down what users needed to fund their credit card. My content explained the necessary criteria for funding the card and how users could get their security deposit back. To help users visualize funding their credit card, the design and development team collaborated to include a dynamic section that displayed the user's Huntington accounts.

Funding Your Card modal.

Debunked Myth #3

We’re here to help.

Throughout my content strategy process, I leaned into my storytelling skills to create a helpful and informative narrative. My tone needed to align with the financial demographic, age range, and company voice. In the case of this credit card, I was writing for a lower-income financial demographic, between the ages of 18-45, who needed professional guidance on how to establish, strengthen, or rebuild their credit score.

Due to stakeholder considerations, multi-source funding was deferred to the second MVP. We adapted by delivering a successful launch through single-source funding, supported by a scannable interface with impactful content.

Single-Source Funding for MVP 1.

Throughout content strategy, I revisited notes from user research to remind myself of key takeaways:

“Show me progress, no matter how small”

  • Reinforced users' sense of autonomy by utilizing empowering verbiage for the credit limit range and security deposit amount.
  • Implemented a progress bar to visually show users where they were in the application.
  • Included the 'Next' button with descriptive text, indicating upcoming steps, and overall enhancing the user's understanding of their progress.

“Do more so I can do less”

  • Established single-source and internal funding for MVP 1.
  • Reduced feelings of confusion or anxiety for users during the application process by displaying the user's account balances.
  • Highlighted accounts with sufficient funds by displaying the account name, last 4 digits, and account balance.

“Educate me on my options”

  • Introduced multi-account and external funding for MVP 2.
  • To empower users, the How Funding Works modal was included as an educational tool to preface the application process.
  • To enforce users' options, the BAO design highlighted that account balances could be updated during the application.

External Account Funding flow for MVP 2.

Results & Impact

The Huntington® Secured Credit Card received overwhelmingly positive feedback from customers and internal colleagues. As a credit-building tool, the benefits that came with the card attracted clients looking to establish or improve their credit. Here were some notable results and impacts after the release of the credit card:

Increased Customer Acquisition
  • Huntington's customer acquisition for credit cards increased by 25% after the release of the secured credit card.
Enhanced User Engagement & Satisfaction
  • The year after the secured credit card's debut, Huntington's online application completions increased by 40%
  • Implementing the progress bar resulted in a 15% reduction in application abandonment rates during the MVP 1 testing phase, indicating improved user confidence.
Colleague Praise
  • Colleagues reported that the BAO flow significantly reduced customer questions during the application process.

Takeaways

Before getting into key takeaways, let's recap some of the challenges I overcame during this project:

  • Help customers establish, strengthen, or rebuild their credit score.
  • Boost customers' financial literacy and confidence with a secured credit card.
  • Ensure final designs and content balance user and colleague needs.

We started as early as user testing to help customers achieve their credit goals. By conducting multiple rounds of A/B testing and interviews with both bankers and customers, we found valuable insights that contributed to a successful user experience and product. Utilizing the research team's user personas supported my content strategy; they made me feel more connected to my audience, translating into a user-driven experience.

To directly address the need for enhanced financial literacy and confidence, we strategically integrated educational aids. Features like the "How Funding Works" and "Here's What You'll Need" modals provided clear and accessible explanations, demystifying the workings of their new secured credit card. Furthermore, offering users the flexibility to choose between single-source and multi-source funding options significantly boosted their sense of autonomy and control. The ability for customers to apply for their credit card in a Huntington branch, allowing for real-time balance adjustments, further amplified their financial confidence.

Our commitment to extensive user testing proved to be a game-changer, revealing critical insights that informed effective strategies for both our colleagues and our customers. The perspective of our bankers, with their direct customer interactions, provided us with a nuanced understanding of customer needs and underlying assumptions. Interviewing users gave us a better understanding of what drove potential skepticism and pain points for them. This comprehensive research approach, paired with user-friendly design and effective content strategy, directly translated into an intuitive and impactful digital experience for colleagues and customers.

In my opinion, the extensive time and energy spent on user testing for this project paid off. Performing multiple methods of user testing allows teams to reveal valuable insights that could greatly influence user satisfaction. I would also like to add that delegating a content connoisseur to attend user testing can breed more data-driven content strategies. Attending and engaging with colleagues and customers during user testing directly influenced my content strategy and helped me support it with factual data.