Experian is bringing credit card discovery and comparison tools to a new medium.
About the Experian Credit Cards App on ChatGPT:
This week, Experian announced the launch of its credit cards app on ChatGPT. Users can find this tool in the Plugins directory.
According to Experian, with this app, users can find credit cards and compare different offers. For example, they can search across different card types, such as those offering introductory APRs, cashback cards, travel cards, and more. Within ChatGPT, customers can view pertinent card info, including annual fees, APRs, rewards, etc. From there, they can click See Matched Offers to be taken to Experian.
Of course, once on Experian, customers can check for any pre-approved offers. They can also take advantage of Experian’s No Ding Decline offers, ensuring that they’re not penalized on their credit if they aren’t intially approved.
While the initial version of the app is available now, Experian says that future enhancements are already planned. These future updates are expected to offer more personalized credit card experiences and expand lender participation.
What They’re Saying:
Announcing this new tool, Experian Consumer Services EVP of Product Debbie Hsu said, “Consumers expect financial experiences to be as intuitive as the technology they use every day. By bringing our credit card marketplace into ChatGPT, we’re making it easier for people to explore their options, compare cards with confidence and take the next step when the time is right.”
Hsu added, “This is another example of how Experian is using AI to create simpler, more helpful financial experiences.”
My Thoughts:
The idea of being able to tell a chatbot exactly what you’re looking for in a credit card and have it come back with pros and cons of different options is awesome. However, based on my limited trials with this plugin, that’s not what the Experian Credit Cards app actually is. Instead, I found search results to be pretty generic — and also limited.
For example, I told it I was looking for a card that had airport lounge access, noting that I fly Delta a lot. Ideally, this should have it recommend the Amex Platinum or Delta SkyMiles Reserve. Instead, the first card it came back with was — I kid you not — the Credit One Bank Wander card. In fact, of the results Experian gave me, only one card (the Atmos Rewards Summit Visa Infinite card) offers any sort of airport lounge access.
So, if you’re actually looking for the best credit card to fit your needs, I don’t suspect that this tool will be of much help yet. Luckily, though, Experian seems to acknowledge the app’s current shortcomings, as addressed in their roadmap plans. Until then, though, I wouldn’t bother with this plugin.
