JD Power Credit Card Satisfaction Survey
American Express tops the list of credit card issuers…
The 2007 Credit Card Satisfaction Study from J.D. Power and Associates, best known for surveying consumer satisfaction with various industry products, was its first look at the credit card industry. Based on responses from 7,812 credit card users surveyed in June and July of 2007, American Express took the top spot out of the 10 credit card issuers considered with a score of 735 out of 1,000. The average satisfaction score for credit card consumers was 658 - a significantly lower average level than scores for mortgage companies at 798, online investment firms at 773 and retail banks at 763.
The study looked at consumer reactions to credit cards by weighing five factors:
34% - benefits and features
25% - rewards
21% - billing and payment process
16% - fees and rates
4% - problem resolution
2007 Credit Card Consumer Satisfaction Study Scores:
- American Express 735
- Discover 728
- Citi cards 652
- Chase 651
- US Bank 646
- WaMu 638
- Wells Fargo 636
- Capital One 617
- Bank of America 607
- HSBC 571
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