Capital One 2003 Annual Report Download - page 8

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There’s no single card that’s right for everyone.
And that’s precisely the secret to our continued growth.
We founded Capital One on the simple idea that we could profitably
serve consumers across the credit spectrum by using information to
tailor the product to the individual’s financial circumstances, offering
every customer the right product at the right time and at the right
price. We’re now the sixth-largest credit card issuer and an industry
leader in asset growth and profitability.
Over the past few years we’ve built a formidable franchise with
upmarket consumers by offering exceptional value and convenience.
Our “No Hassle”SM Platinum card consistently offers one of the lowest
rates in the industry, and the rates apply to cash advances as well as
purchases. Our new “No Hassle”SM rewards program is in a class by
itself—redeemable on any airline, with no blackout dates, no seat
restrictions, free flights with as few as 9,000 miles and the lowest
rates in the rewards category. The payoffs for Capital One are strong
customer loyalty, high usage and low charge-offs.
Our lifestyle cards target hundreds of microsegments—individuals
who share an occupation or a passion or a stage of life (new parents,
for example). Combining our marketing skill with our advanced
information technology, we’re constantly creating new cards tailored
to shared needs and desires.
The credit card business is highly competitive, and we wouldn’t
have it any other way. Competition spurs innovation. It fuels great
performance. And it creates a culture that inspires success.
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