Credit card companies seem to be the least trusted of all financial service providers in the UAE, with almost one in four residents sharing this sentiment.
That’s according to a survey by Insight Discovery, which found that consumers on lower incomes gave credit card issuers the worst scores.
The consulting firm’s chief executive, Nigel Sillitoe told ARN News, that the negative sentiments were largely driven by the high interest rates charged on the cards.
He added that credit card providers should be doing more to help people manage their finances in these tough times.
Recruitment companies, telemarketers and real estate agents are some of the other professions with poor reputation, as per the study.
The standing of financial advisers has also taken a hit over the past year, with 9 per cent of the 1,000 consumers polled in the survey perceiving the profession badly, compared to 5 per cent in 2019.