One would normally think that the more extensive credit cards are equipped, the higher the acceptance of those offers for credit cards. Unfortunately, a fallacy, as the result of a current, representative of a survey on behalf of a consumer protection association shows. After all, around 44 percent of those surveyed stated that they were simply not interested in insurance services offered with credit cards.
But even with other special services such as discounts for flight and hotel bookings or general shopping benefits, the demand is kept within a manageable range. With a 37 percent rejection on the part of the respondents regarding these advantages, this is also a clear sign that a market interest is assumed here that in reality does not seem to exist. The question arises: What do Germans expect from a good credit card?
Transparency of credit card costs are more important
If the current FORSA survey is used to answer this question, it can at least be stated that any kind of additional services are obviously only being accepted to a very limited extent. What users of credit cards, on the other hand, are most interested in is the generally expected costs. The main points are:
- Does the bank charge an annual fee for the credit card?
- What are the domestic and international costs for paying and withdrawing cash with a credit card?
- What is the APR on my revolving credit card?
- Is there an installment payment option?
Quite a matter of course, which should be anything but difficult to answer. But obviously this is exactly the case. Because, according to the study, consumers are particularly unsatisfied with these questions. Around a third of the respondents from the FORSA study are dissatisfied with the available price and cost overviews from the credit card issuers. The criticism of consumers focuses on the lack of transparency and traceability of credit card fees.
Credit card comparisons do a better job of providing information
What is interesting, however, is that credit card comparisons available on the Internet are very important to consumers. Consumer advocates also generally recommend making use of these online comparisons in advance of ordering a credit card. Thanks to these comparison portals, it is finally possible to get a comprehensive overview of the numerous credit card offers. In addition, the individual offers can be compared both individually and in total. The information generated in this way can subsequently be a valuable decision-making aid. After all, nobody wants to pay money for additional services that are ultimately not needed or desired.