Credit card comparison sites may be biased | Synopsis

Credit card comparison sites may be biased

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Excerpt:

The Internet makes it quick and easy to compare credit card offers. Dozens of sites now offer this free service. They make money if you click through and apply for a card.  “There’s nothing wrong with companies earning referral fees,” said Ruth Susswein with the advocacy group Consumer Action, “but users need to know what the financial relationship is between the company that makes the recommendation and the company that may get your business. ” Consumer Action recently surveyed 54 credit card comparison websites. Most of them disclose this commission structure somewhere on the site – usually in the privacy policy or “about us” sections – but you may have to hunt around to find it.  “We think this information must be clearly disclosed,” Susswein said. “Sometimes it is and sometimes it isn’t.

Keywords:

credit card Consumer Action advocacy group company privacy need to know fees policy websites financial Internet offers information the financial

People:

Ruth Susswein

Overall Sentiment: 0.228069

Relevance: 0.807231

Sentiment	Quote
0.215313	“There’s nothing wrong with companies earning referral fees,” said Ruth Susswein ...
0.124641	“We think this information must be clearly disclosed,” Susswein said. ...
Sentiment Stats:	Number of Quotes: 2 Aggregate Sentiment: 0.339954 Mean: 0.169977 Standard Deviation: 1.7320508075689

Key:

• Aggregate Sentiment is meant to be an indicator of an individual's overall sentiment.
• The Mean is meant to be an indicator of an individual's average comment sentiment.
• The Standard Deviation, when there are enough quotes, will indicate an individual's consistency of sentiment (i.e. a Standard Deviation of 0 would mean they were very consistent in their sentiment and 1 would mean they were very inconsistent).

Note that quote stats are likely to be meaningless beyond the aggregate score due to the tiny sample size. However, they are always provided just in case you find something useful there.

Additional Info:

URL Tags Info

Source Site: Credit card comparison sites may be biased

Webpage Provided Keywords:

• consumerman
• credit-cards

Site Provided Desc:

The Internet makes it quick and easy to compare credit card offers. But consumers should know that these sites are set up to make money if you click through and apply for a card.

Provided Title:

Credit card comparison sites may be biased

Data Sources

Full Content: http://www.nbcnews.com/business/credit-card-comparison-sites-reflect-referral-fees-may-be-biased-1C6811747

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