Many consumers still not happy with credit card providers

June 12, 2007

New studies which have been conducted have shown that more then one fifth of credit card users are not happy with their current provider. However, rather than switching it seems that consumers like to stick with their provider for an average of six years.

In particular cards such as Capital One have come under fire for their high interest rates. They also provide credit cards to practically everyone which does not help with bad debt. So whilst CapitalOne remains to be one of the most well known and highly used credit card providers, it is still not giving much satisfaction back to its customers.

So why do people stay with the same provider for six years if they are not happy? Well some believe that changing would be a waste of time and money as all credit card providers are the same and others believe that it would just be too complicated. However both of these statements simply aren’t true and with comparison sites now freely available, changing over could be just the click of a button away.

For many people the reason they choose their provider is because it is their bank or building society. Therefore they trust them and they see it as easier to deal with them rather than with any other company. However, whilst you may trust your provider it does not always get you the cheapest interest rates and often you could be saving a lot of money if you were to choose a different provider.

It is all really about comparing different prices and seeing what you can get. Often you can get much better deals than you think that you can and it is just a matter of seeing what is out there. Credit card providers rely upon people not comparing what else is on offer and the lack of customer knowledge often works in their favour. So if you want the best deal possible for you and if you are currently not satisfied with your current provider, then why not switch?