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Are You Satisfied With Your Credit Cards?

Poll QuestionAfter seven years as America’s favorite credit card company, American Express now shares the top spot with Discover.

The two card companies earned the same customer satisfaction score in the J.D. Power 2014 U.S. Credit Card Satisfaction Study.

The California-based marketing information services firm surveyed 20,000 credit card customers about their satisfaction in six areas: interaction, credit card terms, billing and payment, rewards, benefits and services, and problem resolution.

Overall, consumers are more satisfied with their credit cards then they have been at any time in the survey’s eight years.

While American Express and Discover have different business models, both excel at customer interactions, says Jim Miller, J.D. Power’s senior director of banking services.

Each provides “great personal service when customers call in and also make it easy for customers to manage their accounts online as well as by using mobile apps,” he says.

American Express offers 21 different credit cards with different reward options. “Its customers tend to be more affluent, spend more and are less likely to carry a balance than customers of other card issuers,” according to J.D. Power.

Discover, meanwhile, offers just one card. The company “serves a broad customer base and offers tools to help its customers manage their spending and debt. …”

The study also found that unauthorized or fraudulent activity account for 21% of all credit card problems, but credit card companies could put a positive spin on even those problems by handling them properly.

Security breaches, on the other hand, can cause customer satisfaction to drop, especially when a new card isn’t issued.

Here are two other interesting nuggets from the survey:

  • 10% of customers switched their primary card in 2014, up from 8% in 2013.
  • 19% say the value of their rewards program has improved, up from 17%.

These two things are related, according to J.D. Power, as competition to keep the best customers has increased — meaning your credit card company may be looking to sweeten the rewards pot to keep you as a happy customer.

See the top 10 credit card companies and how they ranked in the chart below. And if you’re looking to switch or add a card, search our database for top credit card offers.

Chart showing where credit cards ranked in satisfaction

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  1. A.Bundy said:
    on September 4th at 02:18 am

    it all depends on your spending. my largest spending is on groceries. food is extremely expensive in NYC. 90% of my credit card bill is from supermarkets. Amex gives 6% back with a $75 annual fee on their preferred blue card, second best is the no annual fee Amex blue 3% cash back on groceries, 3rd runner up is Bank of America visa signature no annual fee 2% cash back plus 10% annual bonus, and lastly Capital One quicksilver basic with a whopping 1.5% cash back on everything. I dumped chase freedom a long time ago. they are the worst when it comes to cash back so there’s no point in using them and they just got rid of their 10% annual bonus cash back.