Ideas & musings about consumer behaviour

Australians prefer to apply for credit cards online

In the most recent Credit Cards Shortlist (Q4 2012) study conducted by Global Reviews, it was found that 62% of Australians would prefer to apply for a credit card online.

This is compared to the 12% who would prefer to just use the website to find the right product and then use another channel to obtain more information and apply.

The study revealed that only 35% of Australians would choose a provider because they have used them before. 58% of Australians would make the decision based on which credit card provider had the best deals and/or offers based on their needs. The evidence in this study reveals that there is little loyalty shown to banks with regards to credit card preference.

With most people preferring to apply for credit cards online, and low loyalty levels, banks need to be sure to clearly differentiate their cards both in market and on their website. They can optimise online conversion by providing clear online access to fees and detailed card information, and ensure their website experience is quick, easy and intuitive.

What type of sites did users visit?

Credit Cards 400

The entire Shortlist Report for Credit Cards is available now and contains in-depth analysis on the awareness to consideration phases of a consumer’s search for credit card products online.

For more information on this and other research your company may be included in contact us today.

Learn more about the Shortlist Report.


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