Current Account and Credit Card Star Ratings 2024

Rachel Springall, Press Officer / Finance Expert T: 01603 476210 E: Email Rachel

A stellar year for the Personal Current Accounts and Personal Credit Cards Star Ratings 2024

Moneyfacts is pleased to announce the Moneyfacts Annual Star Ratings 2024 for Personal Current Accounts and Personal Credit Cards.

For 2024, in personal current accounts, there were 45 Five-Star and 29 Four-Star Ratings awarded across the categories of standard, packaged, premium, youth, student and graduate accounts.
For personal credit cards, there were 47 Five-Star and 33 Four-Star Ratings across the standard and credit repair categories.
Year on year number of products has remained relatively consistent, with the total number of credit cards available falling by four while the number of personal current account products available has increased by five.
Over 225 fields of information per individual product were collected for personal current accounts and more than 250 fields of information per individual product were collected for personal credit cards, all available for assessment.

The products awarded Five or Four-Star Ratings offer the most comprehensive range of standout features and competitive limits, which set them apart from the rest of the market.

Moneyfacts has been analysing data for 35 years, with the instantly recognisable Moneyfacts badge of quality helping inform consumers when comparing personal current accounts and personal credit cards.

Nine out of 10 people agree that a Star Rating from an independent and impartial company could influence their decision in considering taking out a Financial Services product.* (*Source: Moneyfacts Group Plc, Star Ratings survey 11/2022-01/2023).

A stellar year for the Personal Current Accounts and Personal Credit Cards Star Ratings 2024

Moneyfacts is pleased to announce the Moneyfacts Annual Star Ratings 2024 for Personal Current Accounts and Personal Credit Cards.

For 2024, in personal current accounts, there were 45 Five-Star and 29 Four-Star Ratings awarded across the categories of standard, packaged, premium, youth, student and graduate accounts.
For personal credit cards, there were 47 Five-Star and 33 Four-Star Ratings across the standard and credit repair categories.
Year on year number of products has remained relatively consistent, with the total number of credit cards available falling by four while the number of personal current account products available has increased by five.
Over 225 fields of information per individual product were collected for personal current accounts and more than 250 fields of information per individual product were collected for personal credit cards, all available for assessment.

The products awarded Five or Four-Star Ratings offer the most comprehensive range of standout features and competitive limits, which set them apart from the rest of the market.

FOR THE FULL LIST OF 2024 AWARDED PERSONAL CURRENT ACCOUNTS, PLEASE CLICK HERE - FOR PERSONAL CREDIT CARDS, PLEASE CLICK HERE.

Samantha Owens, Star Ratings and Personal Finance Analytics Manager at Moneyfacts, said:

“With many still struggling with rising bills, customers can look towards their financial products to help reduce outgoing costs. With current accounts and credit cards often being used on a daily basis, reviewing these products can ensure customers get access to the best benefits and incentives.

“The Moneyfacts Annual Star Ratings take away some of the hard work of searching the market, allowing customers to focus their attention on the most complete products. Looking beyond the rates, these ratings concentrate on the flexibility of the product along with highlighting those with added benefits that can help with finances in the longer term.”

Samantha Owens, Star Ratings and Personal Finance Analytics Manager at Moneyfacts, said:

Numerous features are considered when assessing the ratings, and some of these include:

Personal current accounts

Opening and operating options
Funding
Card availability
Credit interest
Overdraft availability
Direct debit, standing order & cheque book availability
Refused charges
Foreign usage charges
Text alerts

Opening and operating options
Funding
Card availability
Credit interest
Overdraft availability
Direct debit, standing order & cheque book availability
Refused charges
Foreign usage charges
Text alerts

Switching incentives
Cashback
Travel insurance
Preferential deals on savings, mortgages, loans & credit card products
Emergency cash services
Vehicle breakdown
Gadget & mobile phone insurance
Discounts on restaurants and leisure attractions

Switching incentives
Cashback
Travel insurance
Preferential deals on savings, mortgages, loans & credit card products
Emergency cash services
Vehicle breakdown
Gadget & mobile phone insurance
Discounts on restaurants and leisure attractions

Personal credit cards

Opening and operating options
Payment options
Balance transfer availability
Money transfer availability
Contactless
Card fees and charges
Balance and money transfer fees
Cash withdrawal fees
Late payment charges
Foreign usage charges
Minimum interest charges
Airport lounge access

Opening and operating options
Payment options
Balance transfer availability
Money transfer availability
Contactless
Card fees and charges
Balance and money transfer fees
Cash withdrawal fees
Late payment charges
Foreign usage charges
Minimum interest charges
Airport lounge access

Free emergency card
Free emergency cash
Interest-free days
Loyalty schemes
Luggage insurance
Free text alerts
Extended appliance warranty
Cashback
Travel accident insurance
Flight delay/cancellation insurance
Enhanced purchase protection

Free emergency card
Free emergency cash
Interest-free days
Loyalty schemes
Luggage insurance
Free text alerts
Extended appliance warranty
Cashback
Travel accident insurance
Flight delay/cancellation insurance
Enhanced purchase protection

Notes to editors

Pioneering financial comparison technology for over 35 years.

Moneyfacts Group plc is the UK’s leading provider of retail financial product data. Used by virtually every bank and building society in the UK, and supplied to the Bank of England, Financial Conduct Authority, Financial Ombudsman Service, HM Treasury, Prudential Regulatory Authority and UK Finance.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, business banking, life, pension and investment products in the UK.

Moneyfacts’ Star Ratings highlight the best quality financial products available based on an assessment of all their features and criteria. Moneyfacts Star Ratings logos act as an independent and impartial badge of approval and help customers easily spot which are the better deals to help them make important decisions with confidence.

The growing range of products currently assessed includes:

Personal Current Accounts
Personal Credit Cards
Business Current Accounts
Business Credit Cards
SIPP and SSAS
Equity Release
Home Insurance
Home Emergency Cover
Car Insurance
Travel Insurance
Pet Insurance
Private Medical Insurance
Unsecured Personal Loans
Landlord Home Insurance
Commercial Mortgage.

For more information about us please see our key facts.

To link to our website please use moneyfactsgroup.co.uk.

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Notes to editors

Pioneering financial comparison technology for over 35 years.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, business banking, life, pension and investment products in the UK.

The growing range of products currently assessed includes: