by Angela Nazworth | August 23, 2012 11:49 am
The credit card industry has seen an increase in customer satisfaction for the third year straight, with American Express (NYSE:AXP) being America’s favorite card for the sixth consecutive year, according to J.D. Power & Associates’ annual U.S. credit card satisfaction study. On a 1,000-point scale, overall credit card satisfaction in 2012 averages 753, that’s up 22 points from last year and 39 points from 2010.
Not only are satisfaction rates going up in general, but the credit card companies that have held the top two spots for the past few years are still seeing increased customer satisfaction results.
American Express received the highest “Power Circle” rating (5) from J.D. Power, with a customer satisfaction index ranking of 807. Discover Card (NYSE:DFS) — which also has gotten a lot InvestorPlace love recently — finished a close second with a score of 799 and a rating of 5 Power Circles.
Here’s a look at the card companies that scored above the 700 mark in the study.
|Card Name||Company Ticker||Score|
|Bank of America||BAC||728|
|GE Capital Retail Bank||GE||704|
J.D. Power says its study measured 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. Visit JDPower.com to read the full report.
It will be interesting to see if credit cards continue to see a rise in customer satisfaction amid new surcharges. InvestorPlace‘s Alyssa Oursler recently took an in-depth look on the subject.
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