Survey Finds AmEx Top Card in Consumer Quality Study

Discover is a close second place, Chase in third

It should be of little surprise that American Express is against the highest rated when it comes to credit card customer satisfaction. It is known for having the very best perks after all.

J.D. Power released its latest numbers on a 2013 study in late August. American Express has taken the first place spot ever since the study was started seven years prior.

The latest study totals were based off of 14,000 consumers, and were measured against customer satisfaction rating that examined six specific factors: credit card terms; billing and payment; rewards; benefits and services; and problem resolution.

American Express issues its own cards, and finances payments along with processes the transfers in house. However, that is about the change as there are AmEx cards that are bank-issued these days.

Visa and MasterCard do not issue their own cards like American Express does. Banks are the issuers of the two card types, and the Visa and MasterCard owners make money through the processing of transactions.

The study worked off a 1,000-point scale and American Express scored 816. It performed best in the rewards, benefits, and services category, along with billing payment. Discover scored an 812, and did well within the category of card terms and problem resolution. Chase was third at 783 overall.

“Customers who use their card’s benefits spend an average of $400 more per month on their card, compared with those who are aware of benefits but do not use them, so clearly this is an area of importance to card issuers,’’ said Jim Miller, senior director of banking services at J.D. Power.

“While most customers change cards for a better rewards program, they often don’t fully understand the rewards offered with their current card. There is a clear opportunity for issuers to better communicate rewards programs and benefits to not only keep customers loyal, but also to attract new customers,’’ Miller said.

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