IDEAS home Printed from https://ideas.repec.org/p/fip/fedpdp/15-04.html
   My bibliography  Save this paper

Financial management tools and consumer confidence: chase blueprint

Author

Listed:
  • Lawrence Santucci

Abstract

On March 10, 2015, the Payment Cards Center hosted a workshop on the development and performance of Blueprint, a set of money management features developed by JPMorgan Chase & Co. (Chase) and available with several of Chase?s credit cards. The workshop featured presentations by Thomas O?Donnell, managing director of Chase Consumer and Community Banking Quality, and Florian Egg-Krings, general manager of the Slate and Blueprint portfolios. O?Donnell discussed the development of Blueprint, a process that began during the financial crisis and the Great Recession of 2007?2009. Egg-Krings then shared some insight on the adoption and success of several Blueprint features. Lastly, both O?Donnell and Egg-Krings briefly discussed their expectations for the evolution of Blueprint in the coming years. This paper summarizes the presentations of O?Donnell and Egg-Krings, supplemented by additional research.

Suggested Citation

  • Lawrence Santucci, 2015. "Financial management tools and consumer confidence: chase blueprint," Consumer Finance Institute discussion papers 15-4, Federal Reserve Bank of Philadelphia.
    • Handle: RePEc:fip:fedpdp:15-04
    as

    Download full text from publisher

    File URL: https://www.philadelphiafed.org/consumer-finance/payment-systems/financial-management-tools-and-consumer-confidence-chase-blueprint
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Jialan Wang & Benjamin Keys, 2014. "Perverse Nudges: Minimum Payments and Debt Paydown in Consumer Credit Cards," 2014 Meeting Papers 323, Society for Economic Dynamics.
    2. Richard H. Thaler, 2008. "Mental Accounting and Consumer Choice," Marketing Science, INFORMS, vol. 27(1), pages 15-25, 01-02.
    3. Sumit Agarwal & Souphala Chomsisengphet & Neale Mahoney & Johannes Stroebel, 2015. "Regulating Consumer Financial Products: Evidence from Credit Cards," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 130(1), pages 111-164.
    4. Drazen Prelec & George Loewenstein, 1998. "The Red and the Black: Mental Accounting of Savings and Debt," Marketing Science, INFORMS, vol. 17(1), pages 4-28.
    5. Ran Kivetz & Oleg Urminsky & Yuhuang Zheng, 2006. "The Goal-Gradient Hypothesis Resurrected: Purchase Acceleration, Illusionary Goal Progress, and Customer Retention," Natural Field Experiments 00658, The Field Experiments Website.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Daniel Grodzicki & Sergei Koulayev, 2021. "Sustained credit card borrowing," Journal of Consumer Affairs, Wiley Blackwell, vol. 55(2), pages 622-653, June.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Luc Meunier & Sima Ohadi, 2023. "When are two portfolios better than one? A prospect theory approach," Theory and Decision, Springer, vol. 94(3), pages 503-538, April.
    2. Johannes Abeler & Felix Marklein, 2017. "Fungibility, Labels, and Consumption," Journal of the European Economic Association, European Economic Association, vol. 15(1), pages 99-127.
    3. Yizhao Jiang, 2022. "The Influence of Payment Method: Do Consumers Pay More with Mobile Payment?," Papers 2210.14631, arXiv.org.
    4. White, Tiffany Barnett & Novak, Thomas P. & Hoffman, Donna L., 2014. "No Strings Attached: When Giving It Away Versus Making Them Pay Reduces Consumer Information Disclosure," Journal of Interactive Marketing, Elsevier, vol. 28(3), pages 184-195.
    5. Jae‐Do Song, 2023. "Excessive banking preference in emissions trading," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 44(1), pages 448-458, January.
    6. Goswami, Indranil & Urminsky, Oleg, 2021. "Don’t fear the meter: How longer time limits bias managers to prefer hiring with flat fee compensation," Organizational Behavior and Human Decision Processes, Elsevier, vol. 162(C), pages 42-58.
    7. Jaakko Aspara & Arvid Hoffmann, 2015. "Selling losers and keeping winners: How (savings) goal dynamics predict a reversal of the disposition effect," Marketing Letters, Springer, vol. 26(2), pages 201-211, June.
    8. Lola Hernandez & Nicole Jonker & Anneke Kosse, 2017. "Cash versus Debit Card: The Role of Budget Control," Journal of Consumer Affairs, Wiley Blackwell, vol. 51(1), pages 91-112, March.
    9. Olafsson, Arna & Gathergood, John, 2020. "The Co-holding Puzzle: New Evidence from Transaction-Level Data," CEPR Discussion Papers 14799, C.E.P.R. Discussion Papers.
    10. Alejandro Ponce & Enrique Seira & Guillermo Zamarripa, 2017. "Borrowing on the Wrong Credit Card? Evidence from Mexico," American Economic Review, American Economic Association, vol. 107(4), pages 1335-1361, April.
    11. Johan Almenberg & Artashes Karapetyan, 2009. "Mental accounting in the housing market," IEW - Working Papers 453, Institute for Empirical Research in Economics - University of Zurich.
    12. Sanjit Dhami & Narges Hajimoladarvish, 2020. "Mental Accounting, Loss Aversion, and Tax Evasion: Theory and Evidence," CESifo Working Paper Series 8606, CESifo.
    13. Krämer, Jan & Wiewiorra, Lukas, 2012. "Beyond the flat rate bias: The flexibility effect in tariff choice," Telecommunications Policy, Elsevier, vol. 36(1), pages 29-39.
    14. Priya Jha-Dang, 2006. "A Review of Psychological Research on Consumer Promotions and a New Perspective Based on Mental Accounting," Vision, , vol. 10(3), pages 35-43, July.
    15. Francisco Gomes & Michael Haliassos & Tarun Ramadorai, 2021. "Household Finance," Journal of Economic Literature, American Economic Association, vol. 59(3), pages 919-1000, September.
    16. Wen, Tong & Leung, Xi Y. & Li, Bin & Hu, Lingyan, 2021. "Examining framing effect in travel package purchase: An application of double-entry mental accounting theory," Annals of Tourism Research, Elsevier, vol. 90(C).
    17. Kapoor, Ankur & Sahay, Arvind & Singh, Nandini C. & Chandrasekhar Pammi, V.S. & Banerjee, Prantosh, 2023. "The neural correlates and the underlying processes of weak brand choices," Journal of Business Research, Elsevier, vol. 154(C).
    18. Dilip Soman & Amar Cheema, 2002. "The Effect of Credit on Spending Decisions: The Role of the Credit Limit and Credibility," Marketing Science, INFORMS, vol. 21(1), pages 32-53, September.
    19. Sanjit Dhami & Narges Hajimoladarvish & Konstantinos Georgalos, 2023. "Precautionary Savings, Loss Aversion, and Risk: Theory and Evidence," CESifo Working Paper Series 10570, CESifo.
    20. Larissa Schütte & Diana Gregory-Smith, 2015. "Neutralisation and Mental Accounting in Ethical Consumption: The Case of Sustainable Holidays," Sustainability, MDPI, vol. 7(6), pages 1-14, June.

    More about this item

    Keywords

    Behavioral consumer finance; Credit cards; Debt repayment; Financial management;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fedpdp:15-04. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Beth Paul (email available below). General contact details of provider: https://edirc.repec.org/data/frbphus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.