American Express and USAA ranked first in customer satisfaction by 10,000 people who were surveyed about their experiences with 10 credit card issuers.
The 2013 Temkin Experience Ratings looked at three areas – functionality, accessibility, and emotional satisfaction. American Express and USAA both scored an overall rating of 70% which put them on top of the list for the credit card industry. Other issuers included in the study were Bank of America, Capital One, Chase, Citigroup, Discover, HSBC, U.S. Bank and Wells Fargo.
Here is the breakdown of areas the survey asked consumers about:
- Functionality measured usability. American Express got the top rating in this category.
- Accessibility rated the relationship with the credit card issuer. Discover Card was first in that area.
- Emotional satisfaction gauged how consumer felt about interactions. USAA got the best score here.
HSBC came in last at number 10 for the third year in a row, earning a rating of only 54%. In addition to being rated at the bottom of the list, HSBC earned the lowest scores in each of the three categories. They were one of two companies to get a very poor rating overall. The other issuer that earned that distinction was Capital One, with an overall rating of 59%.
The award for most improved goes to Citigroup, which brought up their rating by eight percentage points over last year’s study. Their poor showing in the emotional satisfaction category, however, kept them near the bottom overall.
The ratings, which look at 246 companies across 19 industries, are published every year by the Temkin Group. Overall, American Express and USAA were ranked 89th in customer experience satisfaction across all industries included in the study. In addition to rating individual credit card issuers, they also rank customer satisfaction with the industry overall. Go to Temkin’s website for a free copy of the full report.