Retailers win big in credit card customer satisfaction poll
The four major UK credit card providers – RBS, Lloyds, Barclaycard and HSBC – failed to win any awards at the 2014 Credit Card Awards from comparison website uSwitch.com.
M&S Bank, Nationwide and Tesco Bank all placed highly on the list of best credit card providers.
American Express came out on top, winning Best Credit Card Provider and Best Rewards. It placed second in three other categories.
M&S Bank took the award for Most Trusted and placed in the top three in four additional categories, while Tesco Bank won three of seven categories. Its wins included Best Overall Satisfaction and Most Recommended.
Jafar Hassan, personal finance expert at uSwitch.com, said: “It’s great to see retailers redefining credit cards to meet the needs of today’s savvy shoppers.”
At the other end of the spectrum, Vanquis was voted Worst Credit Card, with a total score of just 28 per cent and the lowest rank in all eight categories, including customer service, online service and value for money.
Halifax, TSB, Bank of Scotland and RBS joined Vanquis in the bottom five worst overall cards.
The Co-op Bank took a drastic fall in the Most Trusted category, dropping from second place in 2013 to eighth.
Hasan said: “In theory, the larger players should be the ones offering the most competitive products and interest rates, but it’s clear that in practice this is not the case. RBS, Vanquis and TSB customers have had enough of not getting anything back from their card.”