Credit Card Guide
 
Follow Us  twitter facebook You Tube Google+
 
Credit Cards > Credit Card News > American Express > Amex Wants to Help Gen Y Get in Zync



 
 

Amex Wants to Help Gen Y Get in Zync

 
By Eva Norlyk Smith, Ph.D.
January 26, 2011

tools
tools
email print comment
tools
SHARE

American Express launched an outreach initiative, called “Quarterlife Project,” to gauge 20-somethings’ attitudes about money while providing them with products and resources to help financially empower them.

The Quarterlife project kicked off with the release of a survey of Gen Y attitudes around money while providing access to a ZYNC QuarterLife Coach — life coach and author Christine Hassler, who specializes in generational issues.

According to the Quarterlife survey, most members of Gen Y are both anxious about money and unsure how to make it work for them. The survey found that 86 percent of those in their 20s described their financial situation as “stressful” and 79 percent admitted to feeling “overwhelmed.” Additionally, 57 percent confessed they were still financially dependent on their parents.

At the same time, being financially independent and informed is a top priority for Gen Y, the survey found. They just don’t know how to go about getting there. Ninety-six percent said making their own money was their top concern, and two-thirds say they wished they had access to tools and information to learn more about financial issues and money management. The survey was conducted in September 2010 by Echo Research and was based on interviews with 1,253 people aged 20 to 49.

The Zync Quarterlife project is an interesting example of relational marketing, which provides financial services and resources while advertising a product — in this case the Zync charge card. Zync is the newest addition to the Amex line of charge cards. It particularly targets younger cardholders by offering flexible rewards tailored to specific lifestyle interests common among that demographic. American Express positions Zync as a charge card designed to help cardholders manage their money, while giving them greater power to pursue interests and passions.

As part of the Zync Quarterlife project, Gen Y expert and life coach Christine Hassler will provide multimedia tips to help 20-somethings get fiscally fit at Facebook.com/zync until March; Hassler is also available for questions about Gen Y quandaries, and she will post biweekly answers on the Zync Facebook page.

“As people in their twenties — or ‘Quarterlifers’ — make the transition into successful, self-reliant adulthood, many are looking for the tools and insights to help guide them along the way, especially when it comes to managing their finances,” said Mary Hines, vice president, Zync Product Management. “That’s why we partnered with Christine Hassler and other experts to create tips and online resources to help Gen Y. We want to help them truly enjoy this time of their lives and create a solid financial foundation for the future.”

The Zync Quarterlife Project has other educational components as well. Amex has partnered with Federated Media to offer Currency, a website targeting Gen Y’ers with money advice and tips, like how to update last year’s wardrobe without breaking the bank, how to avoid roommate budget tiffs, as well as lifestyle redesign tips to reduce expenses. Currency is easily linked with social networks like Facebook, making it easy for young people to share articles and tips they find of value.


Share 
 
     

 
 

VIEW RELATED STORIES

Amex Introduces New Blue Sky Preferred Travel Rewards Card - If you're one of those consumers for whom the airline baggage fees and other new fees are eating up your insides as well as the content of your wallet, take a look at the new perks introduced by many travel rewards cards.

Amex Survey: Many Holiday Travelers Plan to Spend More - According to a recent American Express survey, many consumers plan on loosening their grip on their purse strings for the upcoming Holiday season.

American Express Rewarded Points for Going Green - American Express is raking in points from environmentalists for funding environmental projects and, internally, pioneering more environmentally friendly company policies.

ALL CREDIT CARD NEWS & ADVICE ARCHIVES >>

 
     

 
  If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the ‘Post to Facebook’ box selected, your comment will be published to your Facebook profile in addition to the space below.

Our editorial content is not sponsored by any bank or credit card issuer. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.
 
     


 
Secure SSL Technology
Secure SSL
Technology
 
Twitter Facebook You Tube Google+
About Us Privacy Policy Editorial Team Terms of Use
Contact Us California Privacy Rights Media Relations Site Map

Close X