Russian credit card users are satisfied with the way digital banking is working, according to experts of the NAFI analytical centre. The top 5 banks in terms of customer loyalty with credit-limit cards included Sovcombank, Raiffeisenbank, Alfa-Bank, VTB, and Tinkoff Bank.
According to the survey, 67 per cent of bank customers in Russia are going to continue using their credit cards in the coming year. Half of the respondents (51 per cent) have experience in recommending a card with a limit on borrowed funds to their friends and relatives. Particularly, working clients, clients of a highly profitable group, as well as card users aged 29-39 are most often ready to recommend their credit cards to others.
Experts have also found out that when choosing card products, customers are guided primarily by the size of the interest-free period (96 per cent), the interest rate on a loan (94 per cent), and the cost of an issue and annual maintenance of a card (94 per cent). When respondents evaluated their existing credit cards, the main drivers of loyalty were favourable conditions (18 per cent), ease of use (17 per cent), and a long grace period (13 per cent).
In addition, 84 per cent of those surveyed named the benefits of their cards. Most often they mentioned a sufficient credit limit (42 per cent), the ability to apply for a card online (38 per cent), as well as free instalments, a large number of points of sale where a card is accepted, free issue, reissue, and service of a card, free digital banking and SMS informing.