Supermarkets most trusted for credit cards
Marks & and Spencer, Tesco and Sainsbury's are more trusted and offer better value for money and customer service for credit cards than four of the biggest high-street banks, a survey has found.
RBS, Lloyds, Barclaycard and HSBC failed to come out on top in any of eight categories related to customer satisfaction with credit cards, in a survey of more than 7,000 credit cardholders.
American Express emerged as the best overall provider, with M&S Bank, Nationwide, Tesco Bank, Santander, and Sainsbury's as runners up.
Jafar Hassan, personal finance expert at uSwitch.com, said: "In theory, the larger players should be the ones offering with the most competitive products and interest rates - but it's clear that in practice this is not the case."
The survey also revealed yet more bad news for Co-op. The beleaguered bank, fell from second to eighth in the most trusted category, in a sign that the barrage of bad publicity about the bank is having an impact on customers.
The survey supports figures from Moneywise's own Consumer Opinion Survey that found 18% of Co-op customers are considering leaving the under-fire bank.