JPMorgan's Plan to Make You Love Fridays

By Matt Koppenheffer and David Hanson – Apr 26, 2013 at 7:48AM

NYSE: JPM

JPMorgan Chase

Market Cap

$553B

Today's Change

(-0.47%) -$0.90

Current Price

$191.24

Price as of April 24, 2024, 12:47 p.m. ET

Everybody likes Fridays. JPMorgan wants you to love them and use its credit cards.

JPMorgan Chase (JPM -0.47%) announced a new "First Friday" program for its Chase Sapphire Preferred cardholders. It gives diners three points for every dollar spent while dining on the first Friday of the month.

The bank is aiming to boost interaction through Facebook (NASDAQ: FB) and OpenTable (NASDAQ: OPEN) and allow consumers to vote on favorite restaurants. Overall, the ultimate goal is make the customer base stickier.

While consumers loves more rewards, a stronger credit card business at JPMorgan would give investors something to love if it pushes margins higher.

David Hanson has no position in any stocks mentioned. Matt Koppenheffer has no position in any stocks mentioned. The Motley Fool recommends Facebook and OpenTable. The Motley Fool owns shares of Facebook and JPMorgan Chase. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.