GLG Network Survey: UK Customer Credit Card Market

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SURVEY DETAILS
TARGET POPULATION

For this Network Survey, GLG surveyed 750 frequent users of credit cards aged 18-65 across the UK.

 

What will you learn from this survey?

  • Respondents shared their credit card usage habits, including monthly spending, repayment strategies, and the impact of inflation on their spending over the past year.
  • The survey explored the impact of BNPL services on credit card usage, and respondents also ranked the most valuable AI-powered features and shared their comfort levels with providers using AI for personalized recommendations.
  • Lastly, the research provided an overview of the competitive landscape of credit card providers, as well as the role credit cards will play in personal finance and the trends that will shape their future in the UK.

 

Examples of findings:

  • 43% of experts are willing to pay less than £50 for lower interest rates, and close to six-in-ten (58%) respondents stated that a possible reason to switch companies would be a low interest rate.
  • 31% respondents stated that they occasionally use BNPL service and 37% believe that the BNPL market will increase over the next 3 years.
  • Close to two-thirds (64%) would like to see loyalty points convertible to cash or bill credit to be introduced as a credit card feature in the next 5 years.

 

Deliverables

The GLG Surveys team drafted the questionnaire with the support of GLG Network Member, Jeremy Hayward, former Chief Customer Officer at Lloyds Banking Group.

  • 1 x Individual responses (“raw data”) in Excel.
  • 1 x PPT report with aggregated data.
  • Executive summary with key takeaways and highlights from the raw data.

Sample Questions

  • Which of the following credit card features would you most like to see introduced in the next 5 years?
  • What, according to you, are the main reasons why the following credit card providers might lose market share in the next 3 years?
  • Which of the following benefits of BNPL services most attract you?
  • How comfortable are you with credit card providers using AI to analyse your spending habits for better recommendations?
  • How transparent do you think UK credit card providers are when it comes to fees and interest rates?
  • How likely are you to switch or get a new credit card in 2025?
  • How do you typically pay off your credit card balance?

Access

This survey is available to subscribers of the Consumer Goods & Services (CGS) sector (Limited subscriptions and above). This offer includes the raw data file and a high-level presentation through PowerPoint. Please contact your GLG representative for details on your firm’s access.

DISCLAIMER

Please be advised that GLG Network Surveys operate differently than traditional GLG consultations, surveys, teleconferences, etc. and it is advisable that you consult with your firm’s legal and/or compliance department to review your use of the product and the payment for such work under your current subscription. 

By downloading this document and/or participating in the Network Survey, you understand and agree that the information and material provided by GLG, including survey results and survey proposal information, is provided for your own insight and informational purposes only. You further acknowledge and agree that this is a Network Survey for multiple GLG clients, and the results will be provided to all GLG clients that agree to participate in the Network Survey and GLG clients that agree to purchase the Survey results in the future. All survey results do not constitute investment advice or a recommendation. In using this Survey, you agree to hold Gerson Lehrman Group and the Survey respondents harmless and free of all liability as a result of your use of this Network Survey, other than liability resulting from the gross negligence or wilful misconduct of the protected party. You otherwise agree to be bound by Gerson Lehrman Group’s Usage Policies in your interactions with Gerson Lehrman Group and your receipt of services. These Survey results are for are for client’s own use and client shall not redistribute, disseminate, publish, or display the same, in whole or in part, to any third parties or publicly without the prior written permission of Gerson Lehrman Group, except explicitly set forth in your agreement with GLG. This survey will be double-blinded to both client and respondent. GLG reserves the right to restrict the number of clients that can pre-commit access. These Network Surveys are priced outside of standard GLG subscriptions but at a substantially reduced price to commissioning a fully proprietary GLG Network Survey. Upon finding these terms acceptable, please send an affirmative confirmation via email, which GLG will file in its records. Once confirmed, please note that the Client’s agreement to purchase the Network Survey is a legally binding and irrevocable commitment. If the survey is not included within your subscription, GLG will invoice Client for the fees due for the Network Survey. Please note that some respondents may not be Network Members, and the Terms and Conditions of Network Membership would not apply to such respondents and detailed records for them will not be available aside from the information that GLG capture in the Network Survey.