Credit Card Customer Satisfaction Improves for a Second Year
Credit card customer satisfaction has increased for a second consecutive year, according to the J.D. Power and Associates 2011 U.S. Credit Card Satisfaction Study released today.
The study measures customer satisfaction in six factors: interaction; credit card terms; billing and payment process; rewards; benefits and services; and problem resolution.
Overall credit card satisfaction averages 731 on a 1,000-point scale in 2011, up from 714 in 2010 and 705 in 2009.
Credit card customers report fewer problems–11 percent in 2011, compared with 14 percent in 2010. Problems were resolved more quickly this year (4.9 days vs. 5.8 in 2010) and required fewer contacts (1.8 contacts vs. 2.2 in 2010).
American Express ranks highest in customer satisfaction for a fifth consecutive year with a score of 786 doing well in the benefits and services, credit card terms and rewards factors. Discover Card was second with a score of 779, performing well in the interaction factor. Barclaycard ranks third with 739.
Issuer Index score
American Express 786
Discover Card 779
(Industry Average) 731
Wells Fargo 726
U.S. Bank 721
Capital One 720
Citi Cards 711
Bank of America 705
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