Rebecca Jennings, senior client advisor at international benchmarking firm Global Reviews, sets out findings from a recent benchmark survey on credit card brands. The findings reveal how consumers discover credit card brands and make their final choice.
A new survey from Global Reviews has found that the nation’s joint favourite credit card providers are Tesco and Barclays. But the survey wasn’t about finding winning credit card brands. Instead, it took a deep dive into ‘shortlisting behaviour’.
It asked how consumers search for credit card providers, how they make a shortlist of brands to investigate further, and how they make their final selection.
And the surprising result is that many credit card brands get onto a consumer’s shortlist, but don’t make it any further. In short, the credit card brands get themselves shortlisted, but they don’t convert the opportunity.