Americans Love Their Credit Cards - Other News

ADVERTISING DISCLOSURE

ADVERTISING DISCLOSURE:
Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from most credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Americans Love Their Credit Cards

Americans Love Their Credit Cards

Americans Love Their Credit Cards
The content is accurate at the time of publication and is subject to change.

Credit card users are super pleased with their plastic, as indicated by the 2011 U.S. Credit Card Satisfaction Study conducted by the global marketing information services firm. Last year saw a decline in satisfaction among “transactors,” the customers who pay off their entire credit card balance each billing cycle. However, they are whistling a happier tune in 2011, as are “revolvers,” or the customers who tend to carry balances on their account.

Michael Beird, director of banking services this firm, told marketwatch.com, “It appears that credit card companies are doing a better job of communicating with customers, which may be an effect of the CARD Act. This improved communication is key to ensuring that customers fully understand their credit card terms–particularly benefits and fees–which helps reduce the number of problems reported and improves the overall experience.”

The Credit Card Act, which was signed by President Barack Obama in May 2009, has made it difficult for lenders to levy excessive fees and raise interest rates at any time, for any reason. It also requires that issuers to simplify their disclosures to make them easier for customers to understand. And it seems to be working, with 35 percent of customers now claiming to understand their credit card terms, as compared with 32 percent in 2010.

As reported by marketwatch.com, Beird cautions that even with improved communication and higher satisfaction seen across the industry, there are still vast differences among credit card companies. With competition for new accountholders ramping up over the past year, consumers may find themselves faced with many tempting offers. But, before filling out an application for a new credit card, they should do everything they can to arm themselves with knowledge by first determining the type of card user they are (a revolver or a transactor) and then proceeding from there. Calling up a card’s customer service line to ask questions, request account information and evaluate user-friendliness is a good way to start gathering information that will help a borrower make an informed decision.

“The improvements in the industry around more proactive and transparent communication create a more level playing field, but only if consumers educate themselves,” Beird told marketwatch.com.

Among the additional services that some card issuers are now offering are credit counseling , online tools for debt management and financial planning, as well as payment and purchase tracking.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
Add to Favorites:

Related News:

Discover Cuts Price Protection Benefits from Credit Cards

Posted: August 20, 2018

If you have a Discover card and like the Price Protection benefit that comes with it, you might want to take advantage of it sooner than later. Discover has decided to do away with this benefit. This benefit will no longer be part of your ... Continue reading
The New Citizens Bank Cash Back Plus World MasterCard

Posted: August 17, 2018

Citizens Bank has rolled out their new Cash Back Plus World MasterCard, offering cardholders 1.8% cash back when they go shopping. This is an upgraded version of their previous card. With this new version, cardholders can earn unlimited ... Continue reading
Bonus for the IHG Rewards Club Premier Card Gets an Upgrade

Posted: August 16, 2018

Have you been thinking about applying for the IHG Rewards Club Premier credit card? If so, you may want to check it out now because they just increased the bonus - bumping it up from 80,000 points to 100,000 points. Cardholders get the ... Continue reading
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate.
For Excellent, Good Credit
INTRO OFFER: Discover will match ALL the Miles you've earned at the end of your first year, automatically. For example, if you earn 30,000 Miles, you get 60,000 Miles.
For Excellent, Good Credit
0% Intro APR on Balance Transfers and Purchases for 18 months. After that, the variable APR will be 15.74% - 25.74% based on your creditworthiness
For Excellent, Good Credit
You've successfully subscribed!

Please specify the following:All these fields are optional

Your Credit History
Themes you are interested in:

By providing this information you help us make our news letters more useful and informative. Thank you!