"credit cards"Of the 10 largest banks in the U.S., Capital One and BofA have the most transparent credit card applications, while Discover and Citi are at the bottom of the list, according to a Card Hub study.

Today CardHub.com released the 2011 Credit Card Application Study which rated the 10 largest credit card issuers on transparency based on the clarity of their online credit card applications. While it is highly recommended that all consumers read the fine print before applying for a credit card, the reality is that most people do not. Since all credit card issuers know this, it is up to them to determine how up front they want to be with their customers.

Each issuer was assigned points and ranked based on how easy it was to find key components of the credit card agreement, including APRs, annual fees, balance transfer fees, and rewards program information.

Key Findings:

• The majority of issuers improved their absolute scores in the 2011 study relative to 2010.

• Capital One and Bank of America continue to be the best performing issuers, with top scores of 98.6 percent and 97.9 percent, respectively.

• The most improved issuer was U.S. Bank, which improved its score by 32.1 percentage points.

• The two issuers that scored the lowest were Discover and Citi, with scores of 82.5 percent and 82.1 percent, respectively. Both issuers fell by 4 positions relative to their rank in 2010.

• Overall, the disparity between the highest and the lowest score is much less in 2011 than it was in the 2010 study.

• Information related to rewards redemptions and information on the balance transfer fee continue to be the areas with the most deficiencies across the board.

For more information about the study, visit www.CardHub.com today.