Capital One 1998 Annual Report Download - page 17

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Please find page 17 of the 1998 Capital One annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

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We’re leveraging the power
of our consumer franchise.
The Capital One franchise
now includes 16.7 million
customers in three countries
and is growing at the rate
of 20,000 customers a
day. Our ability to market
value-added products to our
customers is a big strategic
advantage. We’ve made substantial investments in the
people, technology, and compensation structures
required to excel in customer service and sales. We have
turned what is traditionally considered a “cost center”
into a profit center as we market carefully selected, high
quality branded products. For example, through Capital
One’s relationship with a leading insurance company,
we can offer our customers the opportunity to save an
average of $200 a year on auto insurance. More than
half the customers we added in 1998 also purchased
at least one other product from us. This cross selling
builds customer loyalty and produces higher returns
for Capital One. We are now well on the way toward our
goal of becoming one of the largest consumer franchises
in America.