When it comes to a customer’s credit card satisfaction and spend, rewards and benefits play a big role, according to the results of the J.D.
It’s the first year in the nine-year history of the study that Discover ranked alone as best, last year sharing the top spot with American Express, at 819.
For example, cardholders who link their credit cards with their Amazon.com accounts are reminded at checkout that they can pay for all or part of the purchase using the cash rewards they’ve earned, Miller says.
Discover has the highest customer satisfaction rating for the second year in a row, according to J.D. Power’s 2015 U.S. Credit Card Satisfaction Study released Thursday.
Discover has been inching up in the rankings, tying with American Express for the top spot last year and coming in second the year before.
Colorado is among 20 states total where travel rewards cards are the most popular. American Express scored 820 and Chase scored 792. “The fact that Discover ranks highest in satisfaction among all credit card issuers in each of the six factors measured in the study is a testament of the relentless focus and importance the company has placed on the ease of redemption and use of benefits”.
The 9-year-old study looks at consumers’ satisfaction with credit cards based on interaction; credit card terms; billing and payment; rewards; benefits and services; and problem resolution. Discover has made a number of changes in the past year. They have recently begun a new program that allows customers to place a temporary freeze on their accounts, if they have lost or misplaced their Discover card.
As the economy improves, consumers are feeling better about their credit cards overall and are more confident about their finances, Miller said. New cardholders who spend $1000 in the first three months get a $100 credit on their statement, and they also get a 2-3 percent reward for everyday purchases at the grocery and the pump.
In its report, Crain’s Chicago noted that publicly traded credit card companies are going through rough times at the moment. The industry average is 790, the highest it’s been since the rankings started.