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Impact of Internet on credit card industry

Thu, 15 May 2008

According to recent reports from the credit card news, the Internet has had a major impact on the credit card industry in the last few years. The Internet allows consumers to learn more about credit cards, apply for credit cards, manage credit card accounts, and compare and browse credit card deals for the most competitive rates.

A recent study conducted by Global Reviews finds that as many as 64% of consumers prefer using the Internet when applying for their credit card, whilst as many as 68% use the Internet to manage their credit card account online.

The quality of Internet advice, and the level of information offered by credit card companies on their sites, varied considerably throughout the industry. The future, experts indicate, will see credit card providers making their online facilities better for the consumer.
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