Americans reportedly feel happier with their credit cards for the second consecutive year, according to the latest annual J.D. Power and Associates U.S. Credit Card Satisfaction Study. On a 1,000-point scale, overall satisfaction jumped to a score of 731 from the 714 in 2010, which itself was an improvement from the 705 in 2009.
[Featured Product: Looking for credit cards for bad credit?]
Much of the change in consumer sentiment can likely be attributed to fewer interest rate increases, the report said. Further, 35 percent of respondents said they understand the terms of their credit card agreement, an increase over the 32 percent who responded similarly in the 2010 poll.
For the fifth consecutive year, American Express led all lenders in customer satisfaction, the report said. It earned an overall rating of 786, faring well with ratings for its benefits and services, credit card terms and rewards. Discover wasn’t far behind with a 779 rating.
[Free Tool: Get your free personalized Credit Report Card]
“Exceeding the needs of our customers is a top priority, and over the last year, we’ve worked hard to enhance our products and services to ensure they remain relevant and valuable to our tens of millions of US customers,” said Jim Bush, executive vice president of world service for American Express. “We’re pleased to see through the findings of the J.D. Power study that our customers feel we’ve succeeded.”
Credit.com Credit.com offers straightforward tips and advice to help you make smarter financial decisions. Visit Credit.com to sign up for your FREE Credit Report Card and find out where you stand today! Have a question for our experts? Connect with us on Google+.
{ 1 comment… add a comment }
Satisfactions with credit cards? You’ve got to be kidding. Get real.