Barclaycard is acknowledged as being the most powerful credit card brand in the UK according to an independent study of the market.
The survey, carried out by the ACG, looked at the number of people having a card, how often it was used, customer thoughts on quality and how the brand is perceived. Having taken all these factors into consideration Barclaycard came out on top, thanks to it being the best known credit card in the country and also the second most used.
A spokesman for ACG, commenting on the results, said that Barclaycard would stand out strongly in the current economic climate since consumers look to the best known names in times of difficulty, feeling that there is less to worry about with a credit card brand they know and trust.
Sainsburys Bank would like credit card deals made easier to understand to help customers find the best option to suit them.
A study carried out by Sainsburys Bank found that over half of credit card holders have access to a reward scheme, though less than a quarter of them have actually claimed any of the rewards. This figure is made worse when it is considered that the number of credit cards offering rewards has gone up to 190, from just over 120 three years ago.
The people who responded to the Sainsburys Bank survey gave the main reason for not claiming rewards on their credit cards as it just not being worth it. Over 40 percent of people claimed that the effort needed to get the reward simply was not worth it.
The credit card market seems to be hotting up as companies aim to offer the best deals in order to win customers. The latest Capital One credit card is one such deal and is expected to be very popular.
As credit has become harder to source the natural outcome of this is less customers to go around the different credit card companies. Capital One and the many others out there are all looking to gain the customers that are left and so have to entice them with attractive deals. Consumers looking for a new credit card have never had it so good.
The Capital One offer includes zero percent on both balance transfers and purchases, meaning that consumers using the card do not have to worry about the interest payments for some time, a situation that, with the financial pressures hitting them right now, is a good position to be in.
