COSTA MESA, Calif.— Credit card customers’ expectations for credit cards are evolving, and a new J.D. Power survey suggests many card issuers are failing to keep up.
The decrease in customer satisfaction was led by midsized card issuers that couldn’t keep up with the evolving needs of consumers during today’s volatile economy, Fox Business stated in its analysis.
On a 1,000-point scale, overall satisfaction fell to 805, down from 811 a year before.
Among midsize lenders, the score dropped by 17 points to 796.
American Express ranked highest in customer satisfaction among national issuers, with a score of 838. Discover at 837 ranked second and Capital One at 815 ranked third. Among midsize issuers, Goldman Sachs ranks highest in customer satisfaction with a score of 864. BB&T, Huntington and PNC rank second in a tie, each with a score of 817.