Poll results reveal what frustrates people most about their credit card
Posted June 25th, 2009
Credit Card Finder recently ran a poll to find out what frustrates people most about their credit cards. Here are our key findings.
From the 93 respondents who participated in our poll, here are the results:
- 18% of people felt high interest rates were the cause of their headaches
- 18% of participants disliked Cash Advance/ATM Charges
- 18% hated everything about their credit card! (shocking?!)
- 13% of participants were frustrated with having to pay late payment fees
- Only 10% were unhappy with the high annual fees on their credit cards.
- 8% of those surveyed were appalled with Over the limit fees
- 8% thought that the unrewarding reward program on their credit card stunk!
- 8% were frustrated in having to deal with misleading credit card terms & conditions
Overall, we can say that people are frustrated with their credit cards. Buy why? Well, I think there are some clear reasons for this frustration:
- People aren’t doing enough research in comparing credit card offers and aren’t choosing the right credit card
- Once you’re in a credit card deal, people don’t realise it’s the be all and end all – you can switch cards to find a card that suits you better!
- Terms & conditions for a credit card can take some time to understand fully. Generally, individuals need to they understand a card offer before committing to it.
- Most participants probably don’t know how to manage their credit card. Getting in to debt and getting stuck with late payment fees
Credit Card Finder makes it easy for you to choose a credit card. Our website features comprehensive credit card guides and articles which will help you find the right card, apply online and begin saving money, immediately.
Stay tuned for more market research and surveys in the coming months.
Previous Article: Despite ATM Fee Hike, Withdrawals on the Rise
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Comparison of our Top Credit Card Offers
| Interest Rate (p.a.) | Balance Transfer Rate (p.a.) | Annual Fee | Cash Advance Rate (p.a.) | |||
|---|---|---|---|---|---|---|
Bankwest Breeze MasterCard | A low interest rate on everyday purchases with a low balance transfer offer | 0% for 6 months (reverts to 10.99% ) | 4.99% for 9 months | $49 | 21.99% |   |
Citibank Clear Platinum Card | A low interest rate offer on balance transfers and purchases | 11.99% | 0% for 12 months with 3% handling fee | $99 | 21.74% | |
St.George Vertigo | An introductory offer on balance transfer and a low annual fee | 13.24% | 0.99% for 6 months | $55 | 21.49% | |
Virgin Flyer Credit Card | Earn 1 velocity point per $1 spent, plus an introductory offer on balance transfers | 20.99% | 1.9% for 12 months | $50 (for first year thereafter $99) | 20.99% | |
Westpac 55 Day Credit Card | No annul fee for the first year with a low rate on balance transfers and purchases | 0% for 5 months (reverts to 19.59% ) | 3.99% for 6 months | $0 annual fee for the first year ($30 thereafter) | 21.49% | |
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