You are here: Home - Credit Cards & Loans -

Retailers win big in credit card customer satisfaction poll

0
Written by:
11/05/2014
A survey of thousands of credit card customers has found that retailers such as M&S and Tesco Banks trounce their more traditional rivals when it comes to customer satisfaction.

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.”

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

YourMoney.com Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
Consumer group Which? calls for end to ‘zombie’ savings accounts

Consumer group Which? has launched a campaign to free savers stuck in poor value 'zombie' accounts.

Close