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More Consumers Choosing Online Credit Card Account Services

by Peter Andrew
More Consumers Choosing Online Credit Card Account Services

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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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