How easy is shopping for a credit card online? From one website to the next, how easily can you discern what your interest rate will be on purchase transactions? How about balance transfers? And how much will those rewards points get you in cash, travel or merchandise? Can you readily find this information on the issuers’ websites, or must you read the fine print to find out the real cost and benefit of the card? In our fifth annual Credit Card Application study, CardHub set out once again to find the answers to these questions.
In our analysis, we examined and scored the credit card product websites of the top 10 issuers on several key components related to the costs and benefits of each credit card, including:
1.) Clarity on Rewards: Do the product pages clearly define — without reading the fine print — how to earn rewards and how much these are worth to the customer (e.g., Are 10,000 miles worth a trip to Chicago or Greece?)?