Current Account and Credit Card Star Ratings 2021

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Rachel Springall, Press Officer
Rachel Springall, Press Officer / Finance Expert T: 01603 476210 E: Email Rachel
08/09/2021

A stellar year for Moneyfacts Personal Current Accounts and Personal Credit Cards Star Ratings 2022

Moneyfacts is pleased to announce the Moneyfacts Annual Star Ratings 2022 for Personal Current Accounts and Personal Credit and Charge Cards.

  • For personal credit and charge cards, there were 55 Five-Star and 31 Four-Star Ratings.
  • For personal current accounts, there were 52 Five-Star and 32 Four-Star Ratings awarded across the categories of standard, packaged, premium, youth, student and graduate accounts.
  • Over 260 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.
  • For 2022, the size of the market for both categories has remained consistent with the number of personal credit cards falling by just one and the personal current account market reducing by just five products.

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.

The instantly recognisable Moneyfacts badge of quality for over 30 years helps inform consumers comparing personal current accounts and personal credit and charge cards. 9 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, Financial Services online consumer survey 4/21).

A stellar year for Moneyfacts Personal Current Accounts and Personal Credit Cards Star Ratings 2022

Moneyfacts is pleased to announce the Moneyfacts Annual Star Ratings 2022 for Personal Current Accounts and Personal Credit and Charge Cards.

  • For personal credit and charge cards, there were 55 Five-Star and 31 Four-Star Ratings.
  • For personal current accounts, there were 52 Five-Star and 32 Four-Star Ratings awarded across the categories of standard, packaged, premium, youth, student and graduate accounts.
  • Over 260 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.
  • For 2022, the size of the market for both categories has remained consistent with the number of personal credit cards falling by just one and the personal current account market reducing by just five products.

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.

The instantly recognisable Moneyfacts badge of quality for over 30 years helps inform consumers comparing personal current accounts and personal credit and charge cards. 9 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, Financial Services online consumer survey 4/21).

This year’s five-star awarded providers include:

Personal current accounts: Danske Bank, NatWest, Royal Bank of Scotland and Virgin Money.

Personal credit cards: NatWest, Royal Bank of Scotland and Virgin Money.

VIEW THE FULL LIST OF 2022 AWARDED PRODUCTS – PLEASE CLICK HERE FOR PERSONAL CURRENT ACCOUNTS AND HERE FOR PERSONAL CREDIT CARDS.

This year’s five-star awarded providers include:

Personal current accounts: Danske Bank, NatWest, Royal Bank of Scotland and Virgin Money.

Personal credit cards: NatWest, Royal Bank of Scotland and Virgin Money.

VIEW THE FULL LIST OF 2022 AWARDED PRODUCTS – PLEASE CLICK HERE FOR PERSONAL CURRENT ACCOUNTS AND HERE FOR PERSONAL CREDIT CARDS.

Matthew Smith, Senior Manager at NatWest Group, said:

“It is great to see our credit cards being recognised by Moneyfacts for offering a brilliant customer focussed product and awarded their top five star rating. This endorsement recognises the work we are doing to help our customers become more financially capable by offering them the best products.”

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

“After a year of changing personal circumstances, getting the foundations of personal finance can help ease some of the pressure.

“With providers both withdrawing from and launching into the current account market, customers need to be on the lookout for the best account available to them, that both meets their needs and offers them the most in return for their loyalty. The Moneyfacts Annual Star Ratings take away some of this hard work, allowing customers to focus their attention on the most complete products.

“In addition, with the added protection on spending available with a credit card, ensuring the card offers the most in return on the monthly spend or save the customer on long term costs will be a helping hand with the Moneyfacts Annual Star Ratings highlighting the products with the most benefits.”

Matthew Smith, Senior Manager at NatWest Group, said:

“It is great to see our credit cards being recognised by Moneyfacts for offering a brilliant customer focussed product and awarded their top five star rating. This endorsement recognises the work we are doing to help our customers become more financially capable by offering them the best products.”

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

“After a year of changing personal circumstances, getting the foundations of personal finance can help ease some of the pressure.

“With providers both withdrawing from and launching into the current account market, customers need to be on the lookout for the best account available to them, that both meets their needs and offers them the most in return for their loyalty. The Moneyfacts Annual Star Ratings take away some of this hard work, allowing customers to focus their attention on the most complete products.

“In addition, with the added protection on spending available with a credit card, ensuring the card offers the most in return on the monthly spend or save the customer on long term costs will be a helping hand with the Moneyfacts Annual Star Ratings highlighting the products with the most benefits.”

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

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

Personal Current Accounts

Personal Current Accounts

Flexibility

  • Account management
  • Account opening
  • Funding
  • Card availability
  • Credit interest
  • Overdraft availability
  • Introductory offers
  • Direct debit, standing order and cheque book availability
  • Penalty charges
  • Foreign usage charges
  • Text alerts

Flexibility

  • Account management
  • Account opening
  • Funding
  • Card availability
  • Credit interest
  • Overdraft availability
  • Introductory offers
  • Direct debit, standing order and cheque book availability
  • Penalty charges
  • Foreign usage charges
  • Text alerts

Benefits

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

Benefits

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

Personal Credit and Charge Cards

Personal Credit and Charge Cards

Flexibility

  • Opening and operating options
  • Payment options
  • Balance transfer availability
  • Money transfer availability
  • Contactless

Flexibility

  • Opening and operating options
  • Payment options
  • Balance transfer availability
  • Money transfer availability
  • Contactless

Charges

  • Card fees
  • Balance and money transfer fees
  • Cash withdrawal fees
  • Late payment charges
  • Foreign usage charges
  • Minimum interest charges

Charges

  • Card fees
  • Balance and money transfer fees
  • Cash withdrawal fees
  • Late payment charges
  • Foreign usage charges
  • Minimum interest charges

Benefits

  • 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 cancellation/delay insurance
  • Enhanced purchase protection

Benefits

  • 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 cancellation/delay insurance
  • Enhanced purchase protection

Notes to editors

Pioneering financial comparison technology for over 30 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 and Charge Cards
  • Business Current Accounts
  • Business Credit Cards
  • SIPP and SSAS
  • Ethical Fund
  • Equity Release
  • Critical Illness
  • Home Insurance
  • Home Emergency Cover
  • Car Insurance
  • Commercial Vehicle Insurance
  • Travel Insurance
  • Pet Insurance
  • Private Medical Insurance
  • Unsecured Personal Loan.

For more information about us please see our key facts.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room with ISDN (01603 230551) and Skype (Moneyfacts).

 

Notes to editors

Pioneering financial comparison technology for over 30 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 and Charge Cards
  • Business Current Accounts
  • Business Credit Cards
  • SIPP and SSAS
  • Ethical Fund
  • Equity Release
  • Critical Illness
  • Home Insurance
  • Home Emergency Cover
  • Car Insurance
  • Commercial Vehicle Insurance
  • Travel Insurance
  • Pet Insurance
  • Private Medical Insurance
  • Unsecured Personal Loan.

For more information about us please see our key facts.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room with ISDN (01603 230551) and Skype (Moneyfacts).

 

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Rachel Springall Press Officer / Finance Expert
Eleanor Williams Press Officer / Finance Expert