Britons show trust in credit card firms

By UK CreditCards.com

Britons show trust in credit card companiesCredit card companies are more trusted by the public than the NHS and the BBC -- but less so than other financial services institutions (FSIs), according to a new study.

Card providers were rated 71.55 on trust in the Financial Services Research Forum's 2009 Trust Index, the lowest of the FSIs involved. Credit card firms were also below the average FSI score of 75.02; however, they were far above the NHS and the BBC which achieved scores of 53 and 61, respectively.

While the figures may be surprising, given the negative coverage the financial services industry has received in recent months, the forum's director, Professor Nigel Waite, warned that the industry could still improve its image. "Evidence showing that current conditions have not provoked a 'crisis of trust' is not grounds for complacency," he said.

"Behind an overall average that suggests consumers have moderate levels of trust in financial services providers, there is considerable variability."

Brokers and advisors scored highest in the study, with a trust rating of 81.67.
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Published: 19 May 2009