Credit card satisfaction rates 'dip in Q3'

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The National Customer Satisfaction Index NCSI-UK dropped slightly for a second successive quarter, owing to a loss of confidence in the financial services index.

Credit card services, retail banking and mortgage lending all showed declining customer satisfaction during Q3, meaning the index slipped to 72.8 on a 100-point scale.

While 32 per cent of individual firms have improved their NCSI scores this year, 50 per cent have declined and another 18 per cent are unchanged.

The credit card industry slipped by one point to an index score of 72, as growing displeasure with RSB and Lloyds TSB contributed to the trend.

However, smaller issuers maintained high customer satisfaction levels despite being hit by less value – potentially by offering the best credit card deals.

Barclays was the only credit card provider to improve its customer satisfaction rating during the quarter – moving up from 68 to 69.

Earlier this week, Santander Cards was voted Best Cards Provider at the 2009 Personal Finance Awards.

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2009-11-24 14:42:29 © Moneyextra.com