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                                                                  

60.58

2 Barclaycard                                                            

59.40

3 Marks & Spencer                                                        

58.78

4 Sainsbury's                                                            

56.38

5 American Express                                                       

55.85

6 Co-operative Bank                                                      

54.72

7 Nationwide                                                             

54.57

8 Lloyds TSB                                                             

54.51

9 NatWest                                                                 

54.35

10 HBOS (Bank of Scotland and Halifax)                                   

53.99

11 MBNA                                                                  

53.34

12 Virgin                                                                 

53.12

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

52.95

14 HSBC                                                                  

52.30

15 Capital One                                                            

52.23

16 Post Office                                                           

52.21

17 Egg                                                                   

51.46

18 Royal Bank of Scotland                                                 

50.61

19 Local Building Society                                                

49.27

20 Saga                                                                  

47.57

 

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