At the wrong end of the table, the big banks still dominate. While new entrants to the report Vanquis and Bank of Scotland were voted bottom for overall satisfaction, they are closely followed by Barclaycard, HSBC, Halifax, Lloyds TSB and Santander. None of the high street banks top any category – only RBS manages second place for its balance transfer service. And although overall satisfaction across the board has slipped, things are worse for the banks. Last year the best high street bank was 15% off the top performer. This year the gap has widened to 19%.
Barnaby Jenkins, Head of Credit Card, M&S Money, said: “Ensuring our customers are happy with the service they receive is our number one priority, so it’s fantastic to hear that the M&S Credit Card has come top for overall customer satisfaction.”
“Customer feedback is incredibly valuable to us and we’ll continue to work closely with our customers to make sure we’re delivering the best service possible.”
Best Overall Marks and Spencer regained the top spot for overall satisfaction this year, satisfying 92% of its customers. American Express slipped to third place behind the Co-operative, but with just one percentage point between the top three, it’s all to play for.
Biggest Improver Virgin has pulled itself up seven places in overall satisfaction going from 15th to 8th, with 74% of its customers now satisfied, up from 66% last year.
Worst Provider Vanquis finds itself at the wrong end of the table for overall customer satisfaction in its first year in the report. But the general trend is that the high street banks are at the bottom of the league and for the third year in a row they fail to win an award between them.
Supermarket sweep With almost a three in ten credit card customers (28%) looking for more than offers and great rates, supermarkets are winning over consumers with generous reward schemes. Tesco’s consistent high scores across a number of categories can be partly attributed to its generous reward scheme, while Sainsbury’s also enter the report in the top five.
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