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Credit Card Applications » News » Card Issuers » USAA Ranks First Among Credit Card Issuers

USAA Ranks First Among Credit Card Issuers

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USAA took the top spot when it comes to delivering customer satisfaction for the fourth year in a row, according to a consumer study. Discover and American Express tied for second place. HSBC came in last of the 11 credit cards reviewed.

The Temkin Experience Ratings is an annual survey of 10,000 people about how well companies are doing when it comes to functionality, accessibility, and emotional satisfaction. It looks at 268 companies across 19 industries.

The survey asked people to evaluate and rate a company based on how well they did in three areas:

  • Are they easy to use?

  • How easy are they to work with?

  • What emotion do they inspire?

A score of 70% or more is good, while above 80% is excellent.

The winners and losers

USAA scored a rating of 77%–up 7 points from last year making it the top scorer in the credit card industry. Overall, it came in 33rd when compared with other companies. Discover and American Express both scored a 71% rating so they shared the 83rd spot amongst all companies.

The other credit card issuers included in the study are: Capital One, US Bank, Chase, Wells Fargo, Barclaycard, Citigroup, Bank of America, and HSBC.

In general service is up. None of the credit card companies included in the study went down in rankings and four improved their overall rankings and scores over the last year:

  • Capital One (+10 points)

  • USAA (+7 points)

  • Wells Fargo (+5 points)

  • Citigroup (+5 points)

While there were winners, there were also some losers in the study. HSBC came in last in the credit card category and landed at the tail end of the overall list taking the 254th spot out of all 268 companies.

Credit card companies – doing better

The study also looked at how the industries compared with one another, and the credit card industry did well overall scoring 6th place. It also showed the most improvement across all sections when it came to customer satisfaction.

This upswing, according to the Temkin Group, shows that issuers and banks are working hard to improve the customer experience and satisfaction.

The Temkin Group is a research and consulting firm. This is the 4th year of the survey which looks at 19 industries including: airlines, credit card issuers, hotel chains, software firms, TV service providers, fast food chains, grocery chains, health plans, appliance makers, auto dealers, banks, car rental agencies, computer makers, insurance carriers, Internet service providers, investment firms, parcel delivery services, retailers and wireless carriers.

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