Credit Card Customer Satisfaction

According to JD Power and Associates’ 2021 Credit Card Satisfaction Study, customer satisfaction declines from an all-time high record in year 2020. For the last fifteen years they have been conducting the study. Using a 1,000 point index, the study measures customer satisfaction with credit cards by examining six key factors: interaction; credit card terms; billing and payment process; rewards; benefits and services; and problem resolution. "While there are some bright spots this year among individual issuers, the pandemic really broke a multi year trend of improving satisfaction," said John Cabell, director of banking and payments intelligence at J.D. Power.

Overall satisfaction is at a record high of 809, lower than the previous high of 810 in the 2020 study. Nevertheless, the Consumer Financial Protection Bureau reported 12,427 consumer complaints relating to credit cards in 2021.

•  American Express ranks highest in customer satisfaction with credit card issuers for the second consecutive year, followed closely by Discover.

• Just two issuers experienced an overall increase in customer satisfaction over the last year.

• Bank of America experienced the greatest increase gaining 100 points (14.18%) from 2011 to 2021.

 

 

Consumer Satisfaction Results (1,000 point index)

The following chart lists the total number of consumer complaints related to credit cards received by the Consumer Financial Protection Bureau by issuer.