As credit card use slows in certain sectors because of tightened budgets and risk avoidance, many issuers may find they lack consistent retention strategies, according to a study from Celent.

When the opportunity arises, most issuers try to talk cardholders out of canceling their card accounts through various methods, including incentives to stay, according to the research. Celent analyst Zilvinas Bareisis gathered data for the study in April and May from 11 large financial services providers that included card issuers in Europe and the U.S.

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