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American Express Claims Happiest Cardholders
In the mist of a very turbulent year for the financial industry, there seems to be a bright spot for American Express. This comes in a form of a newly released survey conducted by J.D. Power and Associates to find which credit cardholders were the happiest in 2008 and why. According to an article on MSN Money, the issuers that were judged in the survey were polled on interaction with issuer (customer-service reps or websites), billing and payment process, fees and rates, reward programs, and benefits and services.
For this survey there were 13 credit card issuers which included:
- American Express
- Discover
- National City
- Chase
- U.S. Bank
- Washington Mutual
- Citi
- Wells Fargo
- Bank of America
- GE Money
- Target Visa
- Capital One
- HSBC
Also with this survey some other information gathered from cardholders were that hotel stays were considered the reward that consumer were satisfied with the most, followed by getting cash back from purchases. It also found that users prefer and typically get credit cards that fit their lifestyles.
In my opinion this survey speaks volumes in what consumer are looking for and where potential cardholders can go to find consumer friendly credit cards. Apparently this is the second year that American Express and Discover have been ranked highly by credit cardholders, which speaks volumes as word of mouth can make or break any company.
I am not sure where you are getting the info on happy customers from but all the people I talk to are not so happy, seems credit card companies are cutting limits and tripling interest rates and upping the to over 5% on minimal pymts for unpaid balances to people who pay their bills on time. Inf fact if you google credit consumer complaints there are over 4 million of them and Chase is the biggest complaint, along with American Express. I know first hand that chase is, I just recieved a notice myself. Seems with the prime lending rate down and the banks getting bail out money they could get on board with passing that down to the consumer during the economical crunch, instead of destorying everyones credit score that would cause them not to have access or want to use the banks product later. I ask for a lower interest rates before by writing letters, and just got blown off and denied. I will say Capital One seems to be the only one that has been reasonable about the whole thing.
Comment by B. Yarosh in Florida — July 11, 2009 @ 7:38 am
Not so sure about AMEX, but I love my Discover card and have recommended to many people. What hooked me was a guaranteed 3% interest rate for FOUR years!
Comment by KT in Alabama — August 19, 2009 @ 2:49 am