Consumer Payment Card News

Card Satisfaction

Can’t get no satisfaction? When it comes to credit cards try American Express or Discover. An inaugural study that measures customer satisfaction among credit card issuers has ranked American Express and Discover the highest. Among the 10 credit card issuers examined in the study AmEx scored 735 on a 1,000-point scale, performing particularly well in benefits and features, and problem resolution. Discover closely follows AmEx with a score of 728, performing well in rewards, and billing and payment. The J.D. Power and Associates “2007 Credit Card Satisfaction Study” examined five key factors: benefits and features (34%); rewards (25%); billing and payment process (21%); fees and rates (16%); and problem resolution (4%). From an industry perspective, credit card customers provide an average satisfaction score of 658 points. This is considerably lower than the average satisfaction scores provided by customers in other financial markets the firm conducts studies in: mortgage servicing (798), online investing (773) and retail banking (763).

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