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 believes that credit card users are not claiming the rewards being earned through loyalty point schemes, ultimately costing themselves money.
Looking at the last year the Sainsburys Bank study found that, of over 8 million earned rewards on their credit cards. However only 3 million people claimed their rewards. The biggest reason cited for not claiming was that the value of the reward was too small, this being the reason for over 40 percent. Over a quarter of people felt the process to get the rewards took too long and just under a quarter said it was too difficult.
A Sainsburys Bank spokesman suggested that credit card companies should look addressing these issues since both card provider and consumer would both benefit.
The changing face of our planet has brought interest in environmental issues very much to the fore, and nowhere more so than in the world of credit cards. Customers are looking to do something for the greater good in every aspect of their life now, which is why there is now a Co-op credit card that helps do just that.
The Co-op Think credit card donates 25 pence from every GBP100 spent to Cool Earth, an environmental charity that works to help regenerate the planet. Also, upon signing up for the card, the Co-op buys half an acre of rain forest in Brazil that will be protected and help manage carbon dioxide.
The Think credit card from the Co-op is also competitive financially, with an Annual Percentage Rate of only 12.9 percent. Ultimately a credit card should best suit financial requirements first, taking care of other matters are secondary. However this new Co-op credit card appears to have both bases covered.
