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It's Not Easy for Banks to Sell You on New Services

NEW YORK (TheStreet) -- Banks spend tons of money figuring out how you like to spend and save money, especially when it comes to using credit cards and mobile banking, two huge profit center for financial institutions.

The credit card industry will process about $4 trillion in card transactions this year, according to Business Insider, and Albany, N.Y.-based ResearchMoz reports that mobile banking is also flexing its muscles, growing from 480 million U.S. users at the end of 2012 to 1.08 billion by 2016.

Those big numbers are representative of why banks want to know how financial consumers view new savings and payment technologies in the credit card, mobile banking and virtual-wallet consumer financial market segments.

One data analysis firm, Redwood City, Calif.-based Rocket Fuel, thinks it knows more about your banking habits in that regard than you do.

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In a study of 750 banking consumers 18 and older who own at least one credit card and who have at least expressed an interest in mobile banking, the firm reveals some interesting viewpoints on banking services and credit card use:

You like mobile banking -- to a point. Rocket Fuel says 59% of Americans have at least one mobile banking app on their smartphone, but mostly it's used for basic tasks such as checking account balances. Far less widely used are money apps such as virtual wallets (7% of Americans use them) and money transfers (15%).

You're not happy about your credit card. The study notes that 35% of adults say they're in the market for a new credit card in the next six months. But people who make $150,000 are 50% more likely to switch credit cards than people who make $50,000 per year.

You make money decisions on weekends. You're much more likely to make a banking decision on a Saturday or a Sunday or late at night. Evidently, Americans need some space away from their workday to make money decisions.

You go for "learn more" language. When banks run ad campaigns on the Web that encourage you to "learn more" (usually, that means clicking onto a separate page where you can sign up for a credit card or mobile banking), you are more likely to change your banking or credit card services. That likely means you want more education, and won't make a decision until you get it -- or think you're getting it.

According to Eric Porres, Rocket Fuel's chief marketing officer, banks and credit card firms are spending $5 billion annually on digital ad campaigns. If they can get you to sign up for a fresh products or services, such as a new credit card, or opt in on mobile banking, they'll consider it money well spent on customers that seem generally a tough sell for new services.

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