News & Views - Savantor

Credit Cards – the state of the nation – Part 3

Wednesday, 15 February 2012

Continuing our look at the current state of credit cards in the UK it seemed appropriate to include the most recent Auriemma Issuer Brand Index (IBI).  Only one traditional financial services player has made it into the UK's top four rated credit card brands, with retailers dominating the list.  The IBI is designed to capture credit cardholders' perception of credit card brands within the UK in terms of four key characteristics: brand awareness, perceived quality, brand characteristics, and willingness to recommend.

Tesco was ranked in the top position at 60.58 points out of 100, driven by particularly high rankings in perceived quality of product and customer service. Retailers ranked higher on average than traditional banks within the IBI, due to the strong value of the retailer co-brand card propositions. Consumers also perceived little differentiation between brands ranked within the middle of the IBI, particularly high street banks.  So here is the top 20.

1 Tesco                                                                  


2 Barclaycard                                                            


3 Marks & Spencer                                                        


4 Sainsbury's                                                            


5 American Express                                                       


6 Co-operative Bank                                                      


7 Nationwide                                                             


8 Lloyds TSB                                                             


9 NatWest                                                                 


10 HBOS (Bank of Scotland and Halifax)                                   


11 MBNA                                                                  


12 Virgin                                                                 


13 Santander (Alliance & Leicester, Abbey, Bradford & Bingley)           


14 HSBC                                                                  


15 Capital One                                                            


16 Post Office                                                           


17 Egg                                                                   


18 Royal Bank of Scotland                                                 


19 Local Building Society                                                


20 Saga                                                                  



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