Barclaycard Heads Fool Credit Card Survey

by Gill Montia

Story link: Barclaycard Heads Fool Credit Card Survey

According to Fool.co.uk, the price comparison website, the single biggest influence on the consumer’s choice of credit card is the reputation of the credit card provider. Fool’s research suggests that for eight out of ten credit card users the reputation of their provider and the brand they project are of paramount importance. Surprisingly, balance transfer agreements and long balance-transfer periods were considered of less consequence by those surveyed. However, eight out of ten consumers also studied their long -term prospects with a credit card provider, taking into account APR rates as well as any initial zero per cent interest repayment offer.

Looking at the five market-leading cards, Fool.co.uk, discovered that Barclaycard was marginally more successful than its competitors in attracting the custom of the UK’s 66 million credit card holders. Its typical APR of 14.9% and 13-month zero per cent balance transfer period is superior to offers made by Egg, MBNA and Halifax. Fool estimates that credit cards are used for almost £150 billion worth of transactions a year in the UK.