September 13, 2007: According to research published today by Reportlinker.com, the credit, debit and prepaid card industries have largely overlooked the African American market as an attractive segment despite a constant search for new revenue and clients.

The recent and understandable enthusiasm for the opportunities afforded by the Hispanic market has eclipsed the strong growth potential of the 37.5 million strong African American market, which enjoys higher household income levels than Latinos. In addition, African Americans claim great receptivity to market communications from financial services companies.

African American income levels are rising faster than average with close to two million African American households registering incomes of at least $75,000. The aggregate income of most affluent Black families is at $116 billion and climbing. The number of African American homeowners has grown by a third in the last decade.

There are comparatively few affinity, co-branded and reward cards targeted specifically to the African American community. This is true for both credit and debit cards. However, the high level of unbanked and underbanked helps explain the introduction of affinity and co-branded prepaid cards marketed primarily to the African American community.

http://www.reportlinker.com/p058555/African-American-Credit- Cards.html