Credit Card Customer Satisfaction
According to JD Power and Associates’ 2019 Credit Card Satisfaction Study, customer satisfaction is at an all-time high for the last thirteen years they have been conducting the study. Using a 1000 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. The 2019 study found that only about one third of customers fully understand all the benefits offered, which translates in higher satisfaction scores, while the rest are overall less satisfied with their card.
Overall satisfaction is at a record high of 806, surpassing the previous high of 802 in the 2017 study. Nevertheless, the Consumer Financial Protection Bureau reported 15,232 consumer complaints relating to credit cards in 2019.
Credit Card Customer Satisfaction Industry Average 2008-2019
- Discover ranks highest in customer satisfaction with credit card issuers for the second consecutive year, followed closely by American Express.
- All nine issuers experienced an overall increase in customer satisfaction over the last year.
- Capital One experienced the greatest increase gaining 136 points (20.27%) from 2009 to 2019.
Credit Card Customer Satisfaction by Issuer
Credit Card Customer Satisfaction Index for National Banks
Credit Card Customer Satisfaction Index for Regional Banks
Consumer Satisfaction Results (1000 point index)
|Bank of America||798||791||795||788||777||766||749||728||705||699||687||692|
|Credit One Bank||728||718||735||n/a||n/a||n/a||n/a||n/a||n/a||n/a||618||n/a|
The following chart lists the total number of consumer complaints related to credit cards received by the Consumer Financial Protection Bureau by issuer.
Number of Credit Card Consumer Complaints
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