Satisfaction rises for most cardholders
By Sabrina Karl
American credit card owners are more satisfied with their card company than any time in the last 10 years. And once again, Discover leads the pack.
The results come from the latest installment of J.D. Power’s annual survey of U.S. credit card customers, which ranks the top 10 card issuers in six areas of customer satisfaction: interaction, credit card terms, billing and payment, rewards, benefits and services, and problem resolution.
Despite dropping one point from 2015, Discover earned the top rank for the third year in a row, with a score of 827 on J.D. Power’s 1,000-point scale. But second-place American Express is closing the gap, up five points this year and now sitting just two points behind Discover.
The average score across the industry is 796, a new high in the 10-year survey. That’s up from the previous high of 790 in 2015, with Capital One rounding out the three card issuers that scored above average.
Eight of the 10 card issuers showed satisfaction improvements, with Synchrony and U.S. Bank registering the biggest gains, at 15 and 14 points, respectively. Despite Synchrony’s increase, however, it remains in last place.
Chase was the only other bank besides Discover to register a score lower than last year, dropping two points. With other banks moving up, it moves Chase from fourth place and above average in 2015 to fifth place and below average this year.
J.D. Power’s U.S. Credit Card Satisfaction Study includes responses from 20,206 credit card customers and was conducted from September 2015 through May 2016. The results were released Aug. 18.
See related: 2015 J.D. Power survey
Published: August 18, 2016
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