AmEx: Still America's Favorite Credit Card

American Express Credit card
By Blake Ellis


NEW YORK (CNNMoney) -- American Express (AXP) remains the most beloved credit card issuer in the country, according to a report released Thursday.

For the sixth year in a row, the card issuer has taken first place for customer satisfaction, according to a survey of nearly 14,000 credit card customers conducted by J.D. Power and Associates.

The survey asked customers about their issuer's terms, billing and payment process, rewards program, benefits and services, ability to resolve problems and accessibility -- either by talking to a representative over the phone or going through their website or mobile platform.

Customers said that American Express did the best job in each of these areas, noting that it especially outshines other card issuers when it comes to communicating with customers and offering attractive rewards.

With a score of 807 out of 1,000, American Express narrowly beat Discover Card (DFS), which remained the second place card issuer out of the 11 cards included in the survey, receiving a score of 799 thanks to positive feedback about its ability to quickly and effectively resolve problems for customers.

Chase (JPM) moved up in the rankings to the number three spot, increasing its score by 27 points to 762. Customers reported that it has been doing a better job of clearly disclosing terms like fees and has improved its rewards program.

Rounding out the top five were Barclaycard (BCS) and U.S. Bank (USB), with scores of 758 and 748, respectively.

Citi (C) was one of three card issuers to improve its ranking this year, moving from the 8th to the 6th spot. Customers said they've had an easier time resolving problems with the issuer and that the design and layout of its billing statements have become easier to understand.

All 11 card issuers included in the survey saw their scores increase from last year.

In addition, the average customer satisfaction score rose for the third consecutive year. Customer satisfaction began steadily increasing after the CARD Act went into effect in 2010, which limited fees and interest rates issuers are able to charge customers.

"There has not been a lot of change in the past year in fees, credit limits and card terms -- the things that often affect customers in a negative way," said Jim Miller, senior director of banking services at J.D. Power. "After a series of dramatic changes, credit card customers are enjoying a time of stability."

That stabilization comes as the retail banking sector remains volatile, with new and higher checking account fees continuing to frustrate customers.

For example, only 11% of credit card customers said they experienced a problem with their credit card, compared to 21% of customers who report having a problem with their retail bank, according to a separate report by J.D. Power.

And for the customers who do have problems with their credit cards, they have been able to get those issues resolved more quickly, J.D. Power found. Issuers are taking an average of four days to resolve problems this year, down from five days last year, and 84% of credit card customers have had their problems resolved -- up from 82% in 2011.

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23 Comments

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sagg1948

Who is the ass hole that wrote this lying piece of crap. American Express is still not accepted worldwide the card stinks and is a rip. He must of been paid off by EX

August 26 2012 at 11:15 AM Report abuse -1 rate up rate down Reply
fish7652

amex card is all about the prestiege of owning one. the cost of owning an using one is a rip off. They will all get you in trouble . Pay cash!!!!!!

August 25 2012 at 8:06 AM Report abuse rate up rate down Reply
ilm9p

When you stand naked before Saint Peter on judgement day, and judegement day is coming, ain't nobody gonna be asking about no credit card.

August 24 2012 at 3:53 PM Report abuse rate up rate down Reply
1 reply to ilm9p's comment
Charlie Brown

Yes he will!!! He will say "Whats in your wallet?????

August 26 2012 at 10:37 AM Report abuse rate up rate down Reply
demannmarine

As a buisness ower I dont take the AMX card as they take too long to deposit your money in the account and they charge 5% to run it. They keep your money for 3 days, I wish I could have eveyones money for 3 days and charge them 5% to allow me to make interest on it, Think of keeping 4 million of other peoples money in your account, drawing interest for 3 days AND charging them 5$ I guess I could give award points away also!!

August 24 2012 at 10:27 AM Report abuse rate up rate down Reply
Gunga Din

We had a Discover card, and because of some financial difficulties had to charge large amoints to it. We ran up over 2,000 , and so I practically begged them to lower their "wonderful" APR of 10.99 which is really 11.00 This woman was a real "B" and wouldn't, so we were getting hammered for over 20.00 a month in int. I paid it off in full with the few bucks I had, and I told them I would never ever use them again. I haven't in over 9 months. Credit Cards for the most part are thieves. They will give you a "promo" on your int rate, but they know that by charging a lot on it when the promo is over and the old APR goesr back into effect they get back what they lost from the promo. Citi gave me a 5.99 for a few months hoping I would charge a lot, but knowing they would not extend it I watched my spending. Sure enough-after the promo-they raised it back to a ridiculous 15%. Just watch your spending folks. These people are so unscrupulous!...MHB

August 24 2012 at 10:17 AM Report abuse rate up rate down Reply
nnojr

Are you kidding, they are just another company and do not in any way have rewards anywhere close to rivals! Capital One Venture Card just paid $1600 dollars of my vacation in rewards!!!! I have saved up to $9000.00 total in the last 15 years through my GM card on New Vehicle purchases. I still have rewards on my GM card but presently only use the Capital One due to a lot of travel. Paid off monthly and not one penny in interest, and, and, NO ANNUAL FEE! AMEX keeps sending me fake cards in Advertising letters, I have a stack of 105 that I left my Grand Kids play with! I called AMEX once, told them if they could get me a room in the Hilton in Atlanta on Labor Day, I would gladly sign up, they offered no help at all!!!!!

August 24 2012 at 10:02 AM Report abuse rate up rate down Reply
equusmaximus

Oh yeah...they be wonderful, as long as you stay on their good side. A company I worked for wanted all the sales and marketing people to make a push and contact every client, so had about $23,000 in travel expenses on my platinum card, and company went belly up before reimbursing all that. AMEX will cut your heart out and come back for your eyes later, they are relentless in ripping you a new one when you have an issue, like getting stuck with business expenses on your own card. Such a fun loving bunch they are. Some of my fondest memories are of Amex hounding me to the gates of Hell to get their money.

August 24 2012 at 12:54 AM Report abuse rate up rate down Reply
1 reply to equusmaximus's comment
demannmarine

I had to use my own Platinum ( member since 1990) card to pay for a Buisness debt, during Desert Storm, I shipped about 100K of parts to the USMC in Irag and they took 3 months to pay me, So I used my card to get 30 more days until they paid me so I could pay my bill, I was 30 days late, They turned me into collections, hounded me every day until I paid them 50 days late, Promised that when I paid them they would reinstate my 450,000 points I had with them and all would be good, I paid, they took my card, took my pointsm charge me interest and screwed my credit up. Would work with me at all

August 24 2012 at 10:33 AM Report abuse rate up rate down Reply
AddEleven

Since 1986, I've been an AMEX cardholder, and nothing can beat this bank as a business. I consider this a "Charge" Account, not a Credit Card. Credit cards are paid on time. AMEX is paid in 30 days. How great is it to know that 30 days after charging goods you are paid up and owe nothing.
For my Credit Card, nothing beats NFCU (Navy Federal Credit Union). My son, as a career Navy diver, got me into this and I couldn't be happier. This Credit Union was at one time voted one of the safest lines of credit in this country. As security goes, you have to have a password, an access no. and your SSN just to access your account. You can't even speak to them on the phone without another password. I don't mind the security hassles. I can sleep at night. There's nothing like the Federal Gov't. standing between you and a hacker/thief. These are my personal favorite banking institutions. They've never made a single mistake in all the years doing business with them.

August 24 2012 at 12:46 AM Report abuse rate up rate down Reply
1 reply to AddEleven's comment
nnojr

Are you kidding, they are just another company and do not in any way have rewards anywhere close to rivals! Capital One Venture Card just paid $1600 dollars of my vacation in rewards!!!! I have saved up to $9000.00 total in the last 15 years through my GM card on New Vehicle purchases. I still have rewards on my GM card but presently only use the Capital One due to a lot of travel. Paid off monthly and not one penny in interest, and, and, NO ANNUAL FEE! AMEX keeps sending me fake cards in Advertising letters, I have a stack of 105 that I left my Grand Kids play with! I called AMEX once, told them if they could get me a room in the Hilton in Atlanta on Labor Day, I would gladly sign up, they offered no help at all!!!!!

August 24 2012 at 10:02 AM Report abuse rate up rate down Reply
creiner255

Yep, AX is the best. For me it's pure cash flow. I charge all of my business expenses on it. The terms are due upon receipt but the truth is, if you pay it before the next statement date, you're in like Flynn. It's a real Godsend to me with the extra time that allows me to collect my money from customers that you have to run down for the money. Try doing that with a Mastercard or Visa. They give you 25 days or less and trust me....... their dogs of fees and penalties await their chance to pounce.

August 23 2012 at 10:27 PM Report abuse rate up rate down Reply
kcampo6453

Had American Express for over 30 years, never had a problem. Trouble with a merchant? Tell Am Ex and forget about it.

August 23 2012 at 9:31 PM Report abuse rate up rate down Reply