Consumer Payment Card News

Geezers & Deadbeats

Older consumers (a/k/a/ “geezers”) along with consumers who pay off balances in-full each month (a/k/a “deadbeats”) are the most satisfied credit card customers. A new study shows that American cardholders are generally satisfied with their primary credit card accounts however some cardholder groups are more satisfied than others. PSI Global says that it identified three cardholder segments “High Satisfaction”, 47% of all cardholders; “Moderate Satisfaction”, 38% and “Low Satisfaction”, 15%. Overt dissatisfaction is low across all groups, but the study found varying degrees of satisfaction with primary card accounts among the segments. PSI also found distinct differences in satisfaction levels among different cardholder groups, such as “Transactors”, “Credit Revolvers”, “Internet Credit Card Users” and “Rewards” cardholders, as well as differences in satisfaction levels among life-stage segments. Interestingly, “Transactors” and senior cardholders are the most satisfied cardholder groups. The least satisfied groups are “Revolvers” cardholders under the age of 34. PSI said its study concluded that product features, such as interest rate, annual fee and grace period count most, but leveraging privacy protection and certain customer service attributes are also key to building or maintaining customer satisfaction. The PSI Global study, which is based on a survey of 4,082 U.S. households, evaluated 25 product or service attributes of credit cards.

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