Australian Credit Card Customers 2008

Category: Financial Services

Library Code: DMFS2241

Type: Report

Format: PDF

Pages: 107

Publication Date: 17-Apr-08

STANDARD DESCRIPTION:

Introduction

Australian credit card customers 2008 is an invaluable insight into the behavior and preferences of Australian credit card holders. The report focuses on key issues including card spending, reasons for card choice and preferred providers and sales channels. Each chapter concludes with a section that draws together the key findings and explains the relevance for providers.

Scope

Based on Datamonitor’s Australian Financial Services Survey of 2,000 adult consumers.

Survey conducted in December 2007.

Analysis broken down by parameters including gender, age, state and income.

Survey findings related to specific providers.

Highlights

There is a high level of satisfaction towards credit card providers, although it is highest towards smaller players and credit unions in particular. 50% of consumers who have their main credit card with a credit union are very satisfied with their provider.

Datamonitor’s research asked consumers for their views on the following statement – ‘I feel that the rewards that I get from my card make up for the annual fee that I pay’. Consumers’ responses underlined both scepticism towards the value of reward schemes and annoyance at the level of annual fees.

More consumers would like to arrange their credit card online than are currently doing so. While only 26% of consumers aged 35-44 arranged their main credit card online, 41% would like to do so. Similarly, while only 20% of consumers aged 45-54 arranged their credit card online, 32% would like to do so.

Reasons to Purchase

Confirm what consumers look for when choosing a credit card.

Quantify the benefit of card features such as reward schemes and balance transfer offers.

Better understand consumers’ channel preferences when arranging a credit card.

Click here to view THE TABLE OF CONTENTS