Credit Card Satisfaction Survey

11th June 2007

Around 1 in 5 credit card customers in the UK are unhappy with their current credit card company, a new report suggests, but despite this many customers will stay with the same credit card company for 6 years or more despite the intense competition in the UK credit card market.

According to the survey conducted by uSwitch, American Express was the credit card most people would recommend to a friend and Capital One was voted the worst credit card provider in the report. Egg scored the highest for satisfaction with the level of online services provided by a credit card.

Accuracy of statements and easy to understand statements were two of the most important aspects of service that customers wanted their credit card company to provide. Having the ability to check balances and make payments online were also important to almost 2 out of every 5 credit card holders.

"Credit card companies are relying on customer lethargy, and, with over half of consumers never comparing their existing deal with the rest of the market, clearly people are playing directly into their hands" said a survey spokesperson.