In nearly every case, it appears cardholders realize better cards exist; however, they plan to stick with the one they have. Considering consumer credit card debt in
- For more than 92% (60 out of 65) of the cards surveyed, respondents rate their likelihood of continuing to use that credit card more highly than their likelihood of recommending it to a friend, family member or co-worker
- Only one surveyed card – The World of Hyatt Credit Card – makes the cut where respondents rate their likelihood of recommending it to a friend (8.7 average on a scale of 1-10) higher than their likelihood of continuing to use the card for at least the next year (8.0 on a 1-10 scale)
- Four cards carry identical averages. Cardholders of The Platinum Card from
American Express, the Bank of America Business Advantage Cash Rewards Mastercard, the Ink Business Unlimited Credit Card and the American Express Business Gold Card all rate their likelihood of continuing to use the card the same as their likelihood of recommending the card to a friend
The data may suggest complacency among cardholders. "Survey respondents for nearly every card said they're more likely to keep using it than to recommend it to a friend, suggesting they realize there could be better cards out there, but they aren't willing to make a change," said Brooklyn Lowery, senior manager and site editor of CardRatings.com. "That means respondents could be missing out on that better card."
It's a pattern credit card experts routinely caution against. "We've said it a thousand times: The credit card of your 20s probably isn't the credit card of your 30s," Lowery explains. "As income, stage of life, family makeup, lifestyle and more change in your personal life, the credit card in your wallet could likely benefit from a change, too." Lowery recommends carefully considering your financial situation as it relates to your credit cards at least once a year and any time there is a major shift in income or lifestyle.
For more details on the survey visit https://www.cardratings.com/cardholders-more-likely-to-keep-using-a-card-than-to-recommend-it-survey-reveals.html
CardRatings.com commissioned Op4G in
CardRatings.com is owned and operated by
CardRatings.com innovated online credit card ratings and has been offering independent ratings and reviews of credit card offers since 1998. The website collects and maintains data on more than 700 credit card offers and carefully compiles objective lists of the top credit cards by card type, making it easy for consumers to find the right card to fit their needs.
Public Relations Manager
Liberty Communications for