For the seventh consecutive year, the same credit card company topped the rankings for highest for customer satisfaction.
Each year, J.D. Power sets out to better understand consumer preferences, desires, and satisfaction levels across a host of industries. In its 2013 rankings for credit card satisfaction, it reported the industry continued to improve its ability to satisfy customers, logging a rating of 767 out of 1,000. After a major drop off from 2008 to 2009, things have steadily improved and total satisfaction is up more than 9% since then.
The interesting thing about credit cards is nearly every bank is offering them. Sure, there are companies like American Express (NYSE:AXP), Capital One (NYSE:COF) and Discover Financial Services (NYSE:DFS) that consumers immediately think of when they consider credit cards. But also know that Bank of America (NYSE:BAC) reported it issued 3.9 million credit cards in 2013, and Wells Fargo (NYSE:WFC) noted that it went from having 33% of its customers with a banking account and a credit card in 2012 to 37% in 2013.
With credit cards becoming a more and more popular form of payment, in the presentation below, The Motley Fool takes a look at the 10 highest-ranked companies for customer satisfaction as measured by J.D. Power, which should help any customer as they make their decision about which credit card to get.
Forget about credit cards
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Patrick Morris owns shares of Bank of America, Discover Financial Services, and US Bancorp. The Motley Fool recommends American Express, Bank of America, and Wells Fargo. The Motley Fool owns shares of Bank of America, Capital One Financial., Citigroup, JPMorgan Chase, and Wells Fargo. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.