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The top-rated credit cards in the US

A new study found that Americans' overall satisfaction with credit card companies is at an all-time high.

By MSN Money Partner Sep 2, 2014 1:44PM

This post comes from Krytal Steinmetz at partner site Money Talks News. 

 

Money Talks News on MSN MoneyAmerican Express has long been America's favorite credit card company. But after seven years at the top, AmEx is now sharing the No. 1 spot with Discover.


Shopping online © Creatas, SuperStockThe eighth annual J.D. Power survey found that overall credit card customer satisfaction is at an all-time high. When considering interaction, credit card terms, billing and payment, rewards, benefits and services, and problem resolution, consumers' overall satisfaction with the 10 credit card companies in the survey came in at 778 out of 1,000 points.


American Express and Discover tied, scoring 819 each. Chase was next with 789 points.


AmEx and Discover operate under two entirely different business models. While American Express offers 21 cards with different rewards and fees, Discover has just one card, offering cash-back rewards and no annual fee.


According to a press release:

"This is really a tale of two very different credit card companies that both excel at customer interactions," said Jim Miller, senior director of banking services at J.D. Power. "American Express and Discover provide great personal service when customers call in and also make it easy for customers to manage their accounts online as well as by using mobile apps."

One likely reason Discover moved from second place to tie with American Express for first place this year is that Discover has expanded its merchant reach. According to The Wall Street Journal:

Roughly 9.2 million locations in the U.S. accepted credit cards on the Discover network in 2013, up 2 percent from 2012 and up 24 percent from 2009, according to data from the Nilson Report, a payments-industry newsletter. The number of U.S. locations that accept Visa and MasterCard, which surpass Discover, increased 15 percent since 2009.

Here's how the 10 credit card companies were ranked, starting at the top:

  • American Express, Discover (tie).
  • Chase.
  • Barclaycard.
  • U.S. Bank, Wells Fargo (tie).
  • Bank of America.
  • Capital One.
  • Citi.
  • GE Capital Retail Bank.

Nearly 20,000 credit card customers were interviewed for the survey.


What's your favorite credit card company?


More from Money Talks News

23Comments
Sep 7, 2014 9:45AM
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Citi is horrible. I had a $24 amount owed at the end of the month. I was one day late and got a $34.95 late charge plus interest.......the fee exceeded the amount owed.


Citi then - after much debate reduced the late fee to $17.48. All this for being one day late on an account that I was never late before. Citi is horrible!!!!!!!!

Sep 7, 2014 10:34AM
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I can't believe that. I have both cards and Amex could not hold a candle to Discover. Discover card's customer service are always kind and courteous and Amex people are rude. If Costco ever got Discover I would drop Amex.
Sep 7, 2014 12:24PM
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I use credit cards to check if my scissors need sharpening.
Sep 7, 2014 1:53PM
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I am not surprised to see AMEX.....on only two occasions have I had to deal with their customer service.  Both times it was initiated by them when they noticed anomalies in my charges.  My number was stolen two different times in unrelated incidents when different merchants were hacked.  They called me, politely inquired about the charges, dropped the bogus ones and overnighted me a new card at no charge.

The cash back checks that I get are nice too!

Sep 7, 2014 2:31PM
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I had A/E - and when I went to use it  - I was denied - came home called them and they said it was an error on their part - REALLY well it was pretty embarrassing as I  only wanted to charge  $ 100.00 which was my deductible  at  a  car repair shop due to an accident - I cancelled the credit card and never want it back again.....


That A/E card was actually my husband's ( but I was also on the card )  and used only for  his expense acct. and paid in FULL EVERY MONTH .  Their was no balance on it at the time - talk about embarrassing.


When I arrived home and called them no one said I am sorry nothing -  - is this what  we call GREAT SERVICE - I hardly think so - well maybe they have changed over the years - but I cut the card immediately following the phone call - paid them the balance due in full and never looked back .


times have changed evidently - it's the PERSONNEL THAT SCREW UP  so I am glad that you all think that A/E is so wonderful -

Sep 7, 2014 12:41PM
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LMAO that comes as no surprise that GE bank is at the bottom.  I had a card with Wall Mart and even though I always paid my card on time they gave me such flak.  What they kept doing is lowering my limit and not sending me the letters.  When I got a little cushion after they lowered it to the point where I was maxed out, they lowered it again to the point where it was over the limit, which in turn gave me the over the limit fees.  Needless to say I called them and was very upset with them and told them to close the account.  Something like that is always to the benefit of the customer to just close it.
Sep 7, 2014 3:45PM
Sep 7, 2014 9:36PM
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it looks like a lot of posts here need to go to school a lot more.
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American Express, Visa, MasterCard, Discover, etc. are all

Credit Card issuing conglomerates that are "investor" owned

and each have their own "ticker symbols" on the stock exchanges.


These firms "partner" with "merchants" that buy their product (banks -

many of which are also investor owned and are publicly traded on the

the exchanges with their own ticker symbols. Credit Unions (member owned)

and local banks (non-conglomerate owned), on the other hand, also issue

Credit, Debit and Bank Cards that display the credit card issuing "logos" as

a convenience to their customers so other merchants will "accept" a card

when purchasing a commodity.


What is being "rated" in this article? Certainly not local or community banks

nor credit unions! My credit union's "Check Card" carries the "Visa" logo. This

card may be used at any merchant worldwide for credit, debit or as an "e-check".

When this purchase hits the credit union, it is first processed through the checking

account then goes to savings account. If there are "insufficient funds" in either,

the credit union electronically presents it to Visa for payment and now I owe

the principle sum PLUS a high interest rate to the credit union unless I pay

the entire sum when due at the end of the credit union's billing cycle.


I can also use this "Check Card" in any ATM in the world. Some community banks are

partnered with my Federal Credit Union and do not charge a fee, while others

charge an ATM fee ($2.50 - $4.00). When traveling in the U.S., I will go to a local

or community bank and pay up to their $4.00 fee instead of using a conglomerate's

ATM that only charges $2.00 to withdraw cash (daily limit of Credit Union is $500).


Customer satisfaction is a misnomer! It is your bank or credit union where the

satisfaction comes from! Forget the points, rewards, rebates or miles offered - one is

paying the fee for that also in attempt to get one to "charge it" and go deeper in

debt and pay higher and higher interest rates!


Sep 7, 2014 4:07AM
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well believe or not the humanity was perfectly able to live without a monetary system


Sep 7, 2014 7:00PM
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Discover is good if you don't carry a balance,they have a higher interest rate than most.
Sep 8, 2014 12:11AM
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Capital One has treated me just fine thus far, although I don't carry a balance on any card, so I guess it wouldn't really matter which bank I used.
Sep 7, 2014 9:46PM
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update: I too have no use for Citi, I believe the old citi corp. citi corp charged me double for some equipment I got.  that was a case for: thank goodness there got to be better options to buy Tektronix than TEK Direct.  when that came to be I had much better luck, as I was able to never go through Citi Corp. again  don't get me started on Tek Direct, they had a real Smart @&&**!! warehouse manager.  I now buy TEK product from some well known National Distributors> when I ever need equipment again.  so don't think a store credit account is any better there store account went through Citi Corp. 
Sep 7, 2014 12:35PM
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You idiots who want to revolt are wasting your energy, go to the polls and stop bitching.

 

You don't like Dem's, so I take it tht, you must have more money in your pocket this year than you did 6 years ago. Fool

Sep 2, 2014 4:08PM
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I HOPE the CROOKED,LYING United States Economy COLLAPSES!!!!!!! Starting with these CROOKED,WORTHLESS Banks.....POWER to the NEW REVOLUTION!!!!!!!
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