» American Express Tops Credit Card Satisfaction Survey for Second Straight Year; Discover Ranked Second

September 4th, 2008

American Express Tops Credit Card Satisfaction Survey for Second Straight Year; Discover Ranked Second

September 4, 2008 By Justin McHenry

American Express ranked first in overall credit card customer satisfaction for a second straight year, according to J.D. Power survey results released yesterday, with Discover Card holders being the second happiest customers. The survey asked over 7,000 credit card customers to rate their card company or companies in 5 areas: interaction; billing and payment process; fees and rates; reward programs; and benefits and services. American Express received a score of 783 out of a possible 1000, and Discover had a score of 751.

Rounding out the top eight, in order, with point totals: National City (721), Chase (719), U.S. Bank (716), WaMu (712), Citi (710), and Wells Fargo (709).

Other major issuers did not rank so well. HSBC (667 points), Capital One (678), Target National Bank (issuer of the Target Visa, 682 points), GE Money (683) and Bank of America (692) significantly lagged the competition.

The survey noted that just over 70% of credit card holders have reward programs associated with their cards, and the level of satisfaction with a card is dramatically higher when a reward such as cash back, travel, etc. has actually been awarded to the customer.

Most popular / best credit cards according to IndexCreditCards.com visitors:

1.

Discover® More Card - 0% APR on balance transfers for 12 months & 6 months on purchases, 5% cashback bonus in popular categories, up to 1% cashback bonus on all other purchases
2.

Chase Freedom Card - 0% Intro APR and no Annual Fee, 5% bonus cash back in popular categories , 1% cash bank on everything else
3.

Citi^® Platinum Select^® MasterCard^® - 0% on purchases & balance transfers for Up to 18 months, APR as low as 9.99% variable. $30 statement credit.
4.

Blue Cash^® from American Express - Earn up to 5% cash back on gas, groceries and drug store purchases, and up to 1.5% back on all other purchases, no annual fee, fast approval under 60 seconds
5.

Slate ^SM from Chase - 0% Intro APR, Now with Blueprint, patented fraud protection

6.

American Express® Gold Card - 10,000 American Express Membership Rewards bonus points when you use the card for at least $500 in purchases within the first 3 months.
7.

TrueEarnings® Business Card from Costco & American Express - 4% cash back for annual gas purchases up to $6,000, 3% restaurants, 2% travel, 1% everywhere else, 0% APR on purchases for first 6 months