A new J.D. Power study says 47% of credit card customers who switched to a new card within the past 12 months made the move for a better rewards program.
This comes as major credit card issuers have been trimming benefits left and right because they're getting too expensive.
Despite recently announcing that its price protection benefit is going away soon, Discover ranked highest in customer satisfaction with a score of 836 on a 1,000-point scale.
American Express (830) ranked second and Barclays US (806) ranked third in the U.S. Credit Card Satisfaction Study.
J.D. Power’s report measures customer satisfaction with credit card issuers by examining six factors: interaction, credit card terms, communication, benefits and services, rewards and key moments.
It’s based on responses from 24,018 credit card customers that were collected from September 2017 through May 2018.
- Discover: 836
- American Express: 830
- Barclays US: 806
- Chase: 804
- Capital One: 803
- Industry average: 801
- Citi: 797
- Bank of America: 791
- US Bank: 781
- Wells Fargo: 777
- Synchrony Bank: 762
- Credit One Bank: 718
The study found that reward value is directly linked to customer satisfaction. Free credit scores, mobile apps and digital billing are also viewed favorably by cardholders.
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