Knowing the kind of credit cards your customers carry is helpful knowledge for any merchant. And that kind of data is perhaps all the more worthwhile for a company like Wallaby Financial, creators of The Wallaby Card and app.

The app stores the information from all of a user’s cards. Then it automatically selects the optimal card to be used for any given purpose. Cardholders set their preferences  and the technology does the rest.

So what’s inside the wallets of Wallaby cardholders? The inquiring minds at Wallaby Financial have just found out:

• 20% have six or more cards
• 30% have three or more cards from the “Big Four” (Visa, MasterCard, American Express, and Discover)
• 49% have two or more cards that offer rewards
• 77% have a points reward card (as opposed to miles or cash back)

The average number of cards in a Wallaby user’s wallet? 4.2. And only 2% of all Wallaby card holders have cards with no rewards at all.

Infographic courtesy of Wallaby Financial

What’s interesting to note is how these numbers compare with the broader, card-carrying public. According to statistics posted by CreditCards.com (as of 2010):

• The average credit cardholder has 3.5 cards
• 60% of consumers have a rewards credit card
• 78% of consumers own a credit card

Also noteworthy was the strong showing from American Express among Wallaby users compared to AMEX penetration among the cardholding population at large (73% to 27%). Compare also Discover card’s 24% penetration of the Wallaby wallet to the card’s 30% penetration rate overall.

Wallaby Financial is among the companies that will be demoing their technology at FinovateSpring in May. To learn more about our upcoming event, visit our FinovateSpring page here.