"Enclosure battles" for retail customers intensify among megabanks, as Mizuho Bank pushes point reward rate to 2%

The ``battle'' between megabanks to capture individual customers is intensifying. Mizuho Bank announced on the 7th that it will raise the point return rate for credit cards to 2%, the highest level in the industry. How will Mizuho's moves affect the industry? By exploring the credit card strategies and strengths of each bank with experts, we found hints for choosing a credit card.

In the first place, the reason why banks focus on credit cards, even incurring the high cost of point redemption, is because they want to collect large amounts of deposits from customers.

The amount of deposits is directly linked to the bank's profits. With the Bank of Japan's interest rate hike, the ``world of interest rates'' has returned, and the three mega banks have raised their lending rates far more than their deposit rates. The difference is the ``interest margin'' and is the source of profit.

In fact, in the first quarter of 2026, the average deposit yield for the three mega banks remained at 0.13% compared to the previous year, while the loan yield increased by 0.37%.

In this environment, deposits, which have low funding costs (interest payments) and can be held for a long time, become a valuable resource for bank management. In addition to serving as the source for lending, interest income can also be earned from the funds placed in the current account at the Bank of Japan. Conversely, a decrease in deposits could lead to a decline in profitability.

An important role in collecting deposits is not to miss out on your credit card payment account.

Leading megabanks

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