The 2015 uSwitch credit card satisfaction survey of over 7,000 credit card customers saw retail brands John Lewis, Tesco and Sainsburys winning out in terms of customer service, value for money and trustworthiness.
Who won what?
|Overall satisfaction||John Lewis & Waitrose Partnership|
|Best Overall Customer Service||M&S Bank|
|Best mobile app||MBNA|
|Best Value for money||John Lewis & Waitrose Partnership|
|Best telephone customer service||Sainsbury’s Bank|
|Best mobile website||M&S Bank|
|Best mobile website customer service||Tesco Bank|
|Best mobile app customer service||American Express|
|Best rewards||John Lewis & Waitrose Partnership|
|Best branch customer service||Nationwide|
|Most Trusted||John Lewis & Waitrose Partnership|
|Best online customer service||Nationwide|
A more competitive credit card market?
The credit card market is getting more competitive as more and more big retailers enter the market, leaving the traditional banks behind when it comes to customer service and value for money.
David Mann, Head of Money at uSwitch.com, says:
“It’s great to see retailers keeping the big banks on their toes. With their huge presence on the high street, but without the tarnished reputations, they are best placed to win over the public’s hearts and minds.
“With more people turning to credit cards, it’s vital that families looking for a great deal don’t lose sight of their needs and realise that looking further afield from a traditional high street bank could help them get the best card for them.”
Retailers give the best service
John Lewis shows it can bring its top-tier high street reputation to its banking arm, winning four out of the 13 awards – including Best Overall Customer Satisfaction and Best Value for Money.
M&S Bank show they’re not just any card provider, by taking home the awards for Best Overall Customer Service and Best Mobile Website.
Grant Bourbousson, Digital & Marketing Director, Tesco Bank, says:
“We are committed to providing great customer service which is why we offer a world-class digital banking experience.
“Winning a prestigious uSwitch Credit Card Award for Best Mobile Website Customer Service demonstrates the value and trust that customers place in our website and highlights that we are delivering a service with features we know customers want.”
Bad news for the banks
Not a single one of the big four banks managed to scoop an award. Instead, they found themselves at the bottom of the tables in nearly all categories.
Customers were disappointed with nearly every aspect of banks’ service, including value for money, rewards and customer service.
Specialists come to the rescue
Specialist card providers, building societies and smaller banks redeemed financial services, receiving much higher scores than the big banks.
The building society Nationwide has won awards for its branch and online customer service as well as its website.
Credit card apps need work
The top providers have enjoyed a varying degree of success across the range of online and mobile awards.
But even the winners of these have work to do – the levels of satisfaction for mobile-related categories were the lowest across the whole awards.