Credit Card Customers And The Internet

14th April 2008

Some 64% of customers prefer to apply for a credit card using the internet, according to a new study from customer research firm Global Reviews, with some 20% saying they would prefer to apply in a bank branch and only 7% of customers saying they would prefer to apply over the phone.

The internet is also the most popular tool for finding information on credit cards, with 78% of customers using the internet to research credit card deals, whilst only 11% would visit a branch for credit card information and only two per cent would use the telephone.

Credit card interest rates and fees are still the most important factor for customers when choosing a new credit card company, with some 51% of people saying that 'no annual fee' was the most important factor, whilst some 46% said that credit card interest rates were the most important.

"With so many customers going online, providers wanting to attract these customers need to make sure that their Web site offers the information customers are looking for. All the online applications we looked at could be significantly improved. There is a lot more that providers can be doing to make it easier for their customers online" said Adam Goodvach, director, Global Reviews.