The COVID-19 Impact on Small Business Credit Card Applications in 2020
Small businesses have been substantially impacted during the 2020 COVID-19 pandemic and ensuing lockdowns. However, Comscore's whitepaper finds interest from small businesses in small business credit cards may be rebounding after a loss in momentum in the first half of 2020.
This whitepaper helps inform small business credit card issuers how how small business credit card application and research cycles have trended before and after the COVID-19 era to help inform future client acquisition and retention strategies.
Key questions answered in this whitepaper include:
- How did consumer behavior change in terms of shopping and applying for small business credit cards during COVID-19? Did the change affect both desktop and mobile equally?
- Which credit card referral sources were most substantially impacted? What did the trend look like before COVID-19?
- How are small business credit card issuers responding to COVID-19? Did demand for small business credit cards also change during Q2 2020?