26 May 2017
register for the webinar

Tesco tops UK credit card brand rankings

13 February 2012  |  7889 views  |  0 credit card

Only one traditional financial services player has made it into the UK's top four rated credit card brands, with retailers dominating a list from Auriemma Consulting Group (ACG).

Tesco tops the firm's Issuer Brand Index (IBI), scoring 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 their co-brand card propositions. Marks & Spencer is third in the rankings, with a score of 58.78, closely followed by Sainsbury's in fourth with 56.38.

Barclaycard has the strongest brand among traditional financial services providers, second overall with a score of 59.4. American Express is fifth, the Co-operative Bank sixth and Nationwide seventh. Specialist credit card firm SAV comes bottom of the 23-strong list, with a score of 42.38.

Matt Simester, MD, ACG, says: "The lack of innovation in servicing and reward programmes over the last three years is now showing. Investing in the improvement of servicing strategies and rewards programmes rather than simple cost cutting would appear to be the prime area to attract and obtain customers. Consumer perception remains critical to success."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Tesco delays current account launch

Tesco delays current account launch

06 February 2012  |  6178 views  |  0 comments
Consumers prefer PayPal over credit cards for online shopping - KPMG

Consumers prefer PayPal over credit cards for online shopping - KPMG

05 December 2011  |  20443 views  |  3 comments | 2 tweets | 5 linkedin
PayPal more popular for online buying than debit cards - US survey

PayPal more popular for online buying than debit cards - US survey

13 August 2010  |  9207 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comVisit www.capgemini.com/worldreportsDownload the paper now

Top topics

Most viewed Most shared
BBVA launches Open API marketplaceBBVA launches Open API marketplace
11844 views comments | 49 tweets | 77 linkedin
Bank/fintech collaboration can take transaction banking to new heightsBank/fintech collaboration can take transa...
7296 views comments | 12 tweets | 24 linkedin
TransferWise launches multi-currency business bank accountsTransferWise launches multi-currency busin...
6081 views comments | 12 tweets | 20 linkedin
Enterprise Ethereum Alliance triples in sizeEnterprise Ethereum Alliance triples in si...
6004 views comments | 15 tweets | 17 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job