BUSINESS

New Credit Card Terms Driving Away Customers: Survey

03/18/2010 05:12 am ET | Updated May 25, 2011

A new survey from comScore clears up some of the mystery and confirms that Americans are, in fact, voting with their wallets. Consumers are protesting what they see as unfair treatment at the hands of their credit card companies. According to the survey, 9% of respondents have applied for a new card, while 8% have transferred a balance to a card with better terms. What's more, a whopping 39% say they've either stopped using a card that meted out draconian terms or closed the account entirely, while more than half -- 55% -- say they've stopped using cards that they feel penalize them.

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