More Consumers Choosing Online Credit Card Account Services
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Consumers Choosing Online Credit Card Account Services
The number of credit card customers using issuers’ online services
to manage accounts has grown 28% in the past year, according
to comScore Networks, a consumer behavior research firm.
Customers
choosing the online account servicing option reported higher
levels of satisfaction with their credit card companies than
those not using online account servicing.
Credit
card companies are probably happy with their online customers,
too, as the survey showed that online customers are very open
to using online “self serve” options such as change
of address, requesting balance transfers or requesting credit
limit increases. This cuts down on the card companies’ customer
service expenditures.
Credit
card customers using online account servicing tend to be those
who are already active online. These consumers account for just
21 percent of the online population but do 43 percent of all
online spending. They’re a bit wealthier, too. Sixty-four percent
reported household incomes greater than $50,000 while 57 percent
of non e-servicers have household incomes greater than $50,000.
Nick
Tabbal, vice president of comScore Network’s credit card division,
notes that card issuers still have plenty of opportunity to
increase the numbers of online clients, thereby reducing their
overall customer service costs.
Customers
in the survey reported having used the online account services
of the following credit card issuers: American Express, Citibank,
Chase/Bank One, MBNA, Providian, HSBC/Household and Capital
One.
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