American Express and Marks & Spencer storm credit card awards

American Express and Marks & Spencer storm credit card awards

Amex and M&S won a staggering eight out of eleven categories between them, while the traditional banks failed to win a single award for the second year running.  

In fact, the high street banks are the most likely to disappoint - customers of Santander, Lloyds and RBS voted their banks the worst for customer service. 

While the high street banks failed to win any top spots, Amex was voted the most likely to be recommended to a friend, had the best application process, the best product information and offered the best value for money and came best overall.

Meanwhile M&S came top for billing services, payment services and customer support. See the full results.

Best overall
After slipping from top spot last year, American Express has won back its crown with 92% of its customers happy with its overall service.

Jose Vazquez-Mendez, VP Customer Service UK, American Express, says: "Customer satisfaction has always been a top priority for American Express and it's good to see that our Cardmembers are happy with the service we deliver them.

"However, it's important that we do not rest on our laurels and that we build on this success so that our customers continue to receive the level of customer service expected of us as one of the largest card providers in the world."

M&S came a close second with less than a percentage point between them.

Their customer's loyalty is well rewarded: both M&S and Amex give something back their customers - Amex with a £100 cashback in the first 3 month and 0% interest on new purchases in that time, whilst M&S offers 0% for 6 months and reward points when you use your card.

Best for customer support
M&S managed number one spot for best customer support, with 83% of its customers satisfied, whilst Amex slipped from number one to number three.

The big banks were the most disappointing with RBS, Lloyds and Santander struggling at the bottom of the table, as customers showed their disappointment with lack-lustre customer relations.

Worst provider
RBS has had the biggest fall from grace, slipping eight places from last year to find itself at the bottom of the table in three separate categories: overall satisfaction, interest rate charges and value for money.

However, it was Santander that came bottom of the banks, finishing last in five categories including customer support, online services and billing services.  

Surprising winners
Supermarkets took everyone by surprise with consistent high scores.

In particular, consistent high scores went to Tesco, which offers credit cards that can collect Clubcard points.

David McCreadie, Managing Director, Banking, Tesco Bank says: "Tesco Bank aims to offer its customers great value and strong customer service across all of its products and we are delighted that our customers rate the Tesco Clubcard Credit Card so highly."

It seems that customers have already caught on to supermarket finance - supermarkets now account for 30% of all credit cards in the UK, providing a real competition to high street banks.

Stefan Maryniak, personal finance expert at uSwitch, says customers who are disappointed with their bank's services should vote with their feet: "2011 is set to be another tough year for consumers.

"Although our reliance on credit cards is increasing, not all plastic is fantastic.

"Customer service is still letting the credit card companies down, especially amongst the high street banks, which provide some of the worst service in the market, despite some being government funded."

He added: "Instead of putting up with poor service or an uncompetitive rate, consumers should look at spending a little bit of time shopping around for a better deal.

"If used sensibly, credit cards can be rewarding, and nearly one third chose their most recent card based on the rewards or points it offered.

"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 supermarkets such as Tesco and American Express are doing so well.

"By not taking the time to research the best deals available, millions of consumers are letting their providers get away with levels of customer service and value that are far from competitive.

"Consumers need to make sure they are taking matters into their own hands and find the best deal for their individual needs."

See the full results of the uSwitch Customer Satisfaction Awards.