The bank is looking for new ways to incentivize customers to improve their financial health, as well as differentiate itself in a competitive market, offering rewards like mortgage reductions

When consumers are looking to apply for a credit card, purchase a new automobile or buy a home, a strong credit score is essential. Banks also depend on customers with good credit, so accordingly JP Morgan Chase is looking into ways to reward customers who make an effort to improve their score.

Chase’s ideas for credit score rewards were recently revealed in an interview with company CEO Jamie Dimon. According to Dimon, “We might gamify it, but also give you real rewards. If you get to 700, 750, we’ll cut your mortgage costs a little bit. If you get this, we’ll give you actual rewards like you do in credit cards today.”

Chase already offers its clients free credit scores, something that many banks do today—the loan business is competitive, so the establishment is hoping to further incentivize customers’ business and distinguish itself from other major players in its sector.

Chase Bank


Lead image: mobile banking stock photo from Aris Suwanmalee/Shutterstock

When consumers are looking to apply for a credit card, purchase a new automobile or buy a home, a strong credit score is essential. Banks also depend on customers with good credit, so accordingly JP Morgan Chase is looking into ways to reward customers who make an effort to improve their score.

Chase’s ideas for credit score rewards were recently revealed in an interview with company CEO Jamie Dimon. According to Dimon, “We might gamify it, but also give you real rewards. If you get to 700, 750, we’ll cut your mortgage costs a little bit. If you get this, we’ll give you actual rewards like you do in credit cards today.”