Five Years Strong: Customers Still Satisfied With American Express

Advertising Disclosure

Credit-Land.com is an independent, advertising-supported web site. Credit-Land.com receives compensation from many credit card issuers whose offers appear on our site. Compensation from our advertising partners impacts how and where their products appear on our site, including, for example, the order in which they may appear within review lists. Credit-Land.com has not reviewed all available credit card offers in the marketplace.

Credit Card Applications » Research » Guides » Cardholder Benefits » Five Years Strong: Customers Still Satisfied With American Express

Five Years Strong: Customers Still Satisfied With American Express

By
Add to Favorites:

All around the board customers are satisfied with American Express, including both 'resolvers' and 'transactors.' Transactors are classified as consumers who pay their entire credit card balance every month and resolvers are those who don`t carry any account balances. Research showed that both customers satisfaction were improved with the improving of service.

For the fifth year in a row, American Express is ranked number one in customer satisfaction, with a score of 786 out of a 1,000-point sale. According to the J.D. Power and Associates 2011 US Credit Card Satisfaction Study, the credit card issuer, American Express, offers the best services and benefits, rewards and credit card terms.

The 2011 US Credit Card Satisfaction Study is based on responses from more than 8,700 credit card customers. The study, which is published by J.D. Power and Associates, was fielded in May and June 2011.

Discover came in a close second with a score of 779, and Barclay ranked third with 739 points. Chase scored a 735. The average for the industry is 731. The average score is up dramatically from 2009, when the average score was 705, and in 2010 when the average score was 714.

The survey monitors customers` credit card satisfaction by examining six details: credit card terms, rewards, interaction, benefits and services, billing and payment process and problem resolution.

Most of the satisfaction increased in the areas of problem resolution and credit card terms. And now almost 35% of customers explain that they understand their credit card terms, compared to 32% in 2010. This could be partially due to the Credit Card Act of 2009 and the way it changed the industry.

As customer satisfaction increases so does the brand image. Customers perceive the company in a more favorable light as satisfaction increases. Customers may also see the banks more favorably now as interest rates have declined across the board.

Regarding problem resolution, customers reported 11% less problems in 2011, which was down from the previous year. Also, many of the problems that occurred tended to be resolved more quickly that the previous year. In 2011, it took 4.9 days on average to fix most credit issues, compared to the 5.8 days it took in 2010. Furthermore, in 2010, claims required 2.2 contacts in order to be handled in an efficient manner, but in 2011, only 1.8 contacts were needed.

Add to Favorites:
Get the latest news, articles and expert advice delivered to your inbox. It's FREE.

Related Research:

5 Reasons to Get the Capital One Venture Miles Rewards Card

5 Reasons to Get the Capital One Venture Miles Rewards Card

By Herbert Moore, Posted: January 18, 2017

If you’re looking for a great travel rewards credit card—one that offers unlimited earning opportunities, flexible redemption, and lots of perks—look no further. This card from Capital One has you covered. Continue reading
Credit Card Tips For Holiday Shopping 2016

Credit Card Tips For Holiday Shopping 2016

By Herbert Moore, Posted: November 23, 2016

November and December are the busiest months as gift shopping reaches its peak. People rush around looking for the best gifts and the best deals leaving a lot of money in the shops. Holiday season may force you to go over the household ... Continue reading
Credit Cards to Save More on Holiday Shopping

Credit Cards to Save More on Holiday Shopping

By Herbert Moore, Posted: November 22, 2016

Discounts and special offers are available all year round. Werther you are a bargain hunter or an impulse buyer, make sure you check online discounts and special offers. Also, if you are a cardholder, see if your credit card opens the door ... Continue reading