High street retailer comes top in Which? Money credit card satisfaction survey

PRLog (Press Release) - Nov 21, 2007 -
84 per cent of John Lewis/Waitrose customers surveyed by Which? Money (http://www.which.co.uk/money ) said they were very satisfied with the service they receive. The retailer was rated highly for accuracy and clarity of statements and was the provider most likely to be recommended to a friend.

Many of the well known credit card providers scored poorly - only 38 per cent of Lloyds TSB customers and 42 per cent of American Express customers were very satisfied. Mint came bottom of the table, with just 32 per cent very satisfied.

The most common reason given for choosing a card was having another financial product with the provider (28 per cent). More than one in five (21 per cent) chose their card because of its reward scheme.
Which? Money (http://www.which.co.uk/money ) also found that 71 per cent of those surveyed have had their credit limit raised without asking. 62 per cent had been sent credit card cheques, which carry a cash handling fee and charge interest at the higher cash advance rate with no interest-free period.
Martyn Hocking, Editor, Which? Money, says:
“High street retailers are clearly stealing a march on traditional credit card providers when it comes to keeping customers satisfied – John Lewis/Waitrose is leading the field, but Marks & Spencer, Tesco and Sainsbury’s all fare well too.

“You could also be wasting money if you hold a card with one of the big four banks – only Barclays currently offers a card that makes it into the Which? Money Best Buy tables (http://www.which.co.uk/money ).  

“You should choose a credit card according to your spending habits and how much you repay each month. If you hold a card simply because you have another product with that provider or for reward scheme points then watch out - you’re unlikely to be getting the best deal.”