You can probably conjure up in your head visions of some of the beloved American companies spread out across the nation. But, what about the most hated companies in the country? Yes, it’s true that even companies have popularity contests. Harris Interactive just released the results of its U.S. Reputation Quotient (RQ) Survey. You may or may not be surprised by the companies which hit the bottom of the list.
Not Feeling the Love
Each year, Harris Interactive releases the results of a study revealing the popularity of corporations in America. This year, three credit card issuers were on the bottom of the list, which also means that these are the most hated or the least loved of the batch. The credit card companies on the list are as little loved as the oil companies – which means they are pretty much not feeling the love at all.
The three credit card companies that are bringing up the rear include:
- JPMorgan Chase (ninth from bottom)
- Bank of America (sixth from bottom)
- Citigroup (fourth from bottom)
Not one financial corporation made it into the top 10 on the list this year. Citigroup was one of the companies voted as not “being trusted to do the right thing,” and not having “high ethical standards.”
In order to put it in perspective, it is first important to understand what the companies were rated on in the first place. Six factors were taken into consideration in ranking the companies. The six factors include financial performance, products and services, workplace environment, vision and leadership, social responsibility and emotional appeal.
This is the 12th consecutive year that Harris Interactive has conducted the study and released the results. The survey consists of 30,000 American consumers that Harris Interactive polls using an online survey format. The survey is divided into two parts. The first part asks the respondents to name the 60 most visible companies in the country. After the list is created, the respondents are then asked to rate the companies on the six factors.
It’s reasonable to surmise that the unpopularity of credit card companies can be attributed in large part to the “social responsibility” factor. Card companies routinely raised interest rates and penalty fees on its customers during the financial crisis and made it even more difficult for families where a breadwinner had lost his/her job. Perhaps over the next few years, ratings will rise as credit card companies have recently moved to offer better rewards programs and terms for credit card holders.