Report: Credit Card Customer Satisfaction Reaches All-Time High
Perhaps the reforms made as part of the Credit CARD Act are paying off. According to the latest credit card satisfaction survey conducted by JD Power, overall customer satisfaction is at its highest level since the company began its survey 6 years ago.
JD Power’s study measures customer satisfaction based on six metrics: interaction, credit card terms, billing and payment process, rewards, benefits and services, and problem resolution. This year, the overall satisfaction score reached an all-time high of 753 out of 1000, up from 731 in 2011 and 714 in 2010.
Individually, American Express scored the highest overall ratings with a score of 807, followed by Discover (799) and Chase (762). Individual bank scores are summarized in the table below:
JD Power 2012 US Credit Card Satisfaction Index
(All scores are based on a 1,000-point scale)
| Issuer | Index Ranking |
|---|---|
| American Express | 807 |
| Discover Card | 799 |
| Chase | 762 |
| Barclaycard | 758 |
| INDUSTRY AVERAGE | 753 |
| US Bank | 748 |
| Citi | 737 |
| Wells Fargo | 737 |
| Capital One | 734 |
| Bank of America | 728 |
| Capital Retail Bank | 704 |
| HSBC | 703 |
For a more detailed break-down of these scores, see this link.