Credit card customers ’still unhappy’
Credit card customers are still unhappy with products a year on from the Office of Fair Trading’s rulings on penalty charges, according to research.
A survey from uSwitch found that more than a fifth (21 per cent) of credit card customers are not happy with their existing provider, despite consumers sticking with a credit card company for an average of six years.
The research also found that 6.3 million people chose their credit card because of a relationship they have with their provider and that 21 million customers have a credit card with the big banks.
Price comparison site uSwitch states that Capital One was voted the worst overall provider on criteria such as customer support and payment services.
Barclaycard, Lloyds TSB, HSBC and HBOS all followed in the study of 10,585 customers.
The news follows the Office of Fair Trading’s ruling last year that credit card companies should cut penalty fees to £12 rather than charges imposed in the region of £20 to £25.
Consumers with outstanding repayments to several creditors may wish to take out a debt consolidation loan.
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