Financial services
Understanding why confident credit-card customers still misunderstood critical information
Overview
01
The challenge
Customers often felt confident using credit cards while still misunderstanding important concepts including APR, interest, fees and repayment consequences.
02
What we needed to learn
Understand how people think about credit cards, what drives product choice, how they interpret interest and fees, and where confident users still misunderstand important information.
03
Research approach
Discovery research followed by evaluative testing of website content and alternative statement designs across different repayment behaviours.
04
What the research revealed
Confidence did not always reflect comprehension. Customers used different mental models for credit cards, and misunderstandings around APR, 0% offers and fees could persist even among confident customers. Visual explanations and scenarios supported better understanding.
05
How the evidence was used
Findings informed clearer language, stronger repayment examples, more visible risk information and design principles for financial communications and digital content.
Methods used
In-depth interviews Concept testing Communication testing Prototype evaluation Qualitative analysis
Related capability
Customer & User Discovery / Concept & Proposition Testing