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Key Takeaways
Capital One has a new tool for travelers, and it arrives just in time to benefit those planning on setting out for an adventure or two over the summer. On March 17, the financial institution launched the Capital One Travel App, which the company says it designed to suit the modern traveler.
The arrival of the app suggests to credit card issuers that travel-oriented benefits and services are evolving from a perk that can attract and retain customers to a primary channel of engagement.
Capital One also revealed that it is bringing numerous aspects of its travel portal, Capital One Travel, in-house. The platform started in 2021, and it has turned into a core growth engine for Capital One over its relatively short existence.
Sarah Kaplan Moore, Head of Capital One Travel, said in the company’s post that the financial institution has a vision of building an integrated travel ecosystem that can help people with tasks such as planning for trips and redeeming rewards.
“The launch of our dedicated travel app is a major milestone in this journey, applying the frictionless innovation we are known for to every stage of the traveler’s experience,” Moore said.
Keeping Pace With Competitors
Capital One isn’t the only credit card company offering more travel-oriented services to engage with cardholders. Earlier this month, American Express rolled out a new airport lounge concept in Las Vegas that the company designed for those traveling alone or in small groups.
In a recent press release, Audrey Hendley, President of American Express Travel, said that the company’s cardholders have an incredible passion for travel.
Capital One’s new app stands to help the financial institution keep pace with its rivals in the credit card arena. The solution can provide a seamless experience for travelers who use it to book car rentals, flights, and hotel accommodations.
The app features a live lounge locator — which Capital One claims is the first of its kind — that can provide travelers with details on lounge capacity and wait times. Eligible travelers can use the app to add their names to waitlists for entry to Capital One’s lounges.
The Capital One Travel App can also keep travelers up to date on changes that can occur while they’re on the go, including gate reassignments and alerts on flights.
Capital One’s new app can make travel more convenient by alerting users to gate changes and locating nearby lounges.
“Travel is so core to our brand, so we’re thrilled to give our customers a platform that is able to showcase our innovative features as customers explore, book, and service their travel,” Matt Knise, Senior Vice President, Premium Products and Experiences at Capital One, said in the company’s post.
Something else Capital One is likely to find thrilling about its new solution is that it provides them with a way to consistently engage with cardholders throughout the travel process, not just when customers redeem rewards.
Credit card issuers can capture more data about their cardholders when they offer them an app similar to Capital One’s new solution.
And having access to additional information on users can put an issuer in a position to more effectively cross-sell other products and services and create personalized offers that align with a cardholder’s preferences.
