Consumers Want More from Their Credit Cards - Other News


ADVERTISING DISCLOSURE: is an independent, advertising-supported web site. 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. has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » News » Other » Consumers Want More from Their Credit Cards

Consumers Want More from Their Credit Cards

Consumers Want More from Their Credit Cards
The content is accurate at the time of publication and is subject to change.

Credit cards are definitely trending with consumers according to a new study by Harris Polls, and they know what benefits they want to come along with their cards, including no annual fees and reduced or waived late fees. But when it comes to performance many feel like they are falling short when it comes to delivering.

Certainly, there are plenty of options when it comes to choosing a credit card, which is something the Harris Poll brings to the forefront in this study aptly called The Credit Lowdown, finding that eight out of ten people report having a credit card on hand. And they often have more than one, with many having three cards in their wallet.

Credit card must haves

When it comes to what benefits a credit card must have to be worthwhile there are seven that made it into the study with 75% of people indicating that they want a card that does not have an annual fee, and 56% looking for a card that offers low-interest rates. On the other hand, 42% of people want issuers to eliminate late fees or offer fee forgiveness.

The other “must have” benefits include:

  • Zero APR: 39%
  • Zero interest on balance transfers: 36%
  • No fees for foreign transactions: 29%
  • Cash advances and loans: 21%

Credit cards need improvement

There is plenty of competition out there when it comes to credit card rewards, whether that means getting cash back or earning points or miles. And there are also lots of perks and benefits to choose from, some of which make travel easier and more comfortable, dining out more lucrative, and a whole host of other extras that people indicate are nice to have.

With all of this, it might be easy to assume that people are happy with their credit cards but that is not the case, with 61% letting interviewers know that the card they use the most does not totally deliver on all that they have promised.

With so many cards on the market, Harris Poll believes that credit card companies need to be proactive in this area.

“In this highly penetrated and competitive industry, a company cannot afford to under-deliver. Consumers are inundated with offers from competitors who are eager to take a precious slot in their wallets. Issuers need to make promises they can keep, and stay ahead of consumer sentiment to stem off attrition and maximize loyalty,” says Alison Bushell, client director at The Harris Poll.

This Harris Poll study was carried on online from November 2 to 4, 2016. They interviewed 2,037 people aged 18 and u living in the U.S.

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:

New Credit Card by Citi and Kawasaki
New Credit Card by Citi and Kawasaki

Posted: January 26, 2017

Vroom! Citi Retail Services has signed a long term deal with Kawasaki paving the way for the development of a private label credit card program designed for consumers in the United States. Continue reading

Citi Rolls Out New App Scanner
Citi Rolls Out New App Scanner

Posted: February 06, 2017

Citi has upgraded their mobile app so the camera in their mobile device can be used to scan their credit cards and add them into the app. Continue reading

LendUp and Beneficial State Bank Expand Their Relationship
LendUp and Beneficial State Bank Expand Their Relationship

Posted: May 30, 2017

Beneficial State Bank, a social enterprise bank, and LendUp, a socially responsible lender, have inked a deal quadrupling the number of L Card’s available to consumers. 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, and more 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. That's $600 towards travel!
For Excellent, Good Credit
Earn unlimited 1.5% cash back on every purchase, every day
For Average, Fair, Limited 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!