International study on the design of Credit Card Statements

Project: International study on the quality of ceredit card statments undertaken by the Communication Research Institute (CRI)
Partners: Colleagues from ten countries – Australia, Argentina, Austria, Chile, Netherlands, Portugal, South Africa, UK and USA

Findings are published on the CRI website: Card statements blind customers to debt trap

is-design tested the statemetns‘ performance of one credit card company in Austria. People were unanimous in their verdict that there was too much advertising on the statment in relationship to the information that really matters (The largest item on the bill was a bonus point system). Besides some obvious readabiltiy issues we identified unclear terminology and the fact thatmore than half of the participants were not aware of some fundamental aspects of the concept of credit cards, namely: interest charges, spending limits and part payment.