2008 Credit Card Satisfaction Results

From J.D. Power and Associates

J.D. Power and Associates analyzed the responses from more than 7,600 credit card users to understand what made them either satisfied or unhappy with their current cards. The study measures customer satisfaction with credit cards over five key factors: interaction; billing and payment process; fees and rates; reward programs; and benefits and services.

Here’s how cardholders scored high performers in areas they identified as important to them:

Rewards (Transactors)

• AmEx
• Discover
• Chase

Fees/Rates (Revolvers)

• AmEx
• US Bank
• Discover

Call Center

• AmEx
• Discover
• Chase

Problem Incidence

• Target Visa
• Discover
• WaMu

Accepted Everywhere

• National City
• WaMu
• Chase
• Target Visa

Some additional credit card insights:

• Transactors are, as a whole, more satisfied with their credit cards than revolvers and are twice as likely as to remain with their primary credit card issuer.
• Even though transactors are most interested in rewards programs, 72 percent of all cardholders participate in some type of reward program.
• Hotel stays are the most satisfying type of reward, followed by cash rewards.
• One quarter of all cardholders don’t know if their card offers them additional benefits and one-third haven’t used any during the past year. Those users have lower satisfaction levels than their better informed counterparts.

For more information, view the complete credit card ratings at the J.D. Power and Associates web site.

Source: From J.D. Power and Associates