RESTON, VA., December 14, 2009/PRNewswire-FirstCall/ — When faced with issuer changes, consumers are most likely to reduce use and charges with the credit card.

The economic downturn combined with revived transparency regulations in the credit card industry have caused issuers to make changes to consumers' credit card accounts.  The 2009 comScore Online Credit Card Report found that half of consumers have noticed direct changes to their accounts made by their issuer including an increase in APR/interest rate, reduced credit limit, and additional fees.

"This past year has been very volatile in the credit card industry, both for issuers and consumers," said Kevin Levitt, comScore vice president.  "With the economic environment and regulatory mandates prompting issuers to make product adjustments, an already financially-sensitive consumer is responding with dissatisfaction and an increasingly negative perception of their card issuer. Understanding the current sentiment and common concerns among consumers will be critical to success over the next year."

These changes have caused many consumers to lose confidence in their issuer and respond by changing behavior as well card issuers.  Among survey respondents who have noted changes in card terms within the last year, 55% indicated that they have decreased the amount they spend using that particular card, while 27% stop using that card for any purchase.

Another 12% of respondents closed that account, while 9% applied for a new credit card with another issuer with 8% transferring their balance to another card.  Only 3% reported spending more on that card.

The comScore, Inc., Online Credit Card Report: 2009 Edition, provides an in-depth view of the online credit card industry with a particular focus on how the economic environment, government regulation and industry response have affected consumer behavior and confidence. Among its findings, the report revealed that more than two-thirds of consumers have responded to changes in their credit card terms and conditions by reducing spending behavior, terminating the account or switching brands.

To download a complimentary copy of the comScore Online Credit Card Report: 2009 Edition, please visit: www.comScore.com/Press_Events/Presentations_Whitepapers/2009/2009_comSc ore_Online_Credit_Card_Report

Source: comScore, Inc.