A recent report has claimed that on average supermarkets tend to offer better deals on credit cards these days than banks, which means that consumers can often get a great deal on a credit card simply by heading to their local supermarket rather than trawling through the websites of the various High Street banks.
The report has claimed that credit cards from retailers such as Tesco and Marks & Spencer have scored better than those from providers such as Halifax, Lloyds, and Natwest.
A survey was recently carried out by the comparison and switching giant uswitch.com, and the results showed that Marks & Spencer and Tesco topped the tables with credit cards when it came to customer satisfaction, providing further evidence that the supermarket seem to be triumphant when it comes to the popularity of their credit cards.
The survey showed that around eight out of ten consumers were satisfied overall with their credit cards whilst when it came to everyday customer service this fell to seven out of ten.
The data also showed that around 6 percent of consumers, equating to around two million credit card customers, were very dissatisfied with their credit cards. However, there was concern amongst officials because the data also showed that whilst many people were not happy with their credit cards and providers many had still failed to make any attempt to switch to a more suitable card or to another provider.
One official from the website stated: ‘Tightened lending criteria and consumer cutbacks have prompted many to loosen the reliance on their flexible friends. However, for many, credit cards will remain an invaluable way of smoothing out any peaks and troughs in personal income. Consumers are also wising up to the added benefits of using credit cards. With generous rewards such as loyalty points that can be converted into cash, gifts, airmiles or money off your shopping bill, it’s easy to see why the supermarket credit cards are doing so well.’
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