Which Credit Card Companies Have the Best Customer Satisfaction?

Many consumers rely on credit cards for convenience in shopping and financing for products that they cannot afford to pay for all at once. Many credit cards also provide users with benefits, such as the ability to earn loyalty points that can be applied toward travel or other services, cashback options, insurance, or other kinds of protection for purchases made with the card, as well as other perks.

Determining the top credit cards based on consumer satisfaction can be somewhat challenging. Different credit card issuers offer a range of terms and benefits. It's not always easy, however, for consumers to determine which card is the best for their needs.

Factors That Contribute to Customer Satisfaction

Here are some of the factors that contribute to customer satisfaction with their credit card:

Credit terms: Consumers are concerned about interest rates as well as fees and charges for things like going over the limit or late payments.

Credit limits: Consumers like to have access to large credit lines, even if they don't use them. This is partially so that consumers have some flexibility in case they have an emergency expense. Another reason is that credit score issuers, such as FICO and VantageScore take available credit into consideration when determining someone's score. Having lots of available credit is favorable to the credit score.

Low annual fees: Consumers don't like having to pay too much in annual fees. Ideally, consumers want no fees, low fees, or for the credit card company to reimburse the fees in the form of credit for products or services.

Quality customer service: Consumers want to be able to quickly reach their card issuer in case of a problem or question. They want to be able to take steps to secure cards that have been compromised or stolen and get a new card as soon as possible. Many card companies now offer sophisticated mobile apps that allow cardholders to check balances, dispute transactions and freeze their cards as needed. However, consumers still appreciate being able to talk to a live human being, which means that it is important for credit card companies to have well-managed call centers.

Perks: Many cardholders appreciate the perks that come with having a particular card. These perks might include cashback, loyalty points, preferred access to event tickets, insurance, and travel benefits. Personal finance experts do warn, however, that it is important to not be distracted by perks and benefits at the expense of analyzing interest rates and fees. If you normally carry a balance on your cards, any benefits you receive may be offset by what you are paying in interest. Over time, these cards can cost you a significant amount of money.

Merchant disputes: Cardholders rely on their credit card issuers to have their backs in disputes with merchants. If a consumer does not receive a product or service, or the quality is shoddy, the cardholder wants the credit card company to hold or reverse transactions until the matter is made right. Credit card companies that provide a robust merchant dispute experience that favor the consumer tend to be well-regarded.

Top Credit Cards and Issuers

Below are some of the top credit card issuers when it comes to overall customer satisfaction:

Federal Navy Credit Union: If you have been a service member, worked for the U.S. Department of Defense, have been a contractor for the Department of Defense, or are an immediate family member of anyone in the previous categories, you may qualify for one of these cards. Federal Navy Credit Union offers a range of cards, including secured cards for those with poor credit and a range of rewards cards, including those that offer travel benefits and cashback. FNCU offers both American Express and Visa cards and is known for strong customer service and no foreign transaction fees.

USAA: The United Services Automobile Association offers financial services to U.S. service members, pre-commissioned officers, and their spouses and children. USAA offers American Express and Visa cards at a range of interest rates. Card offerings include cashback cards and those that offer loyalty points on your purchases. USAA as co-branded cards, particularly those offered by American Express, also offer significant perks, such as purchase protection and extended warranties that can be incredibly helpful when purchasing expensive items that could break down.

Apple Card: Issued by Goldman Sachs, the Apple Card is getting a lot of attention. It works within the Apple Pay network and offers a virtual credit card through Mastercard. This allows the card to be used anywhere that accepts Mastercard. There are no fees of any kind, and users can earn 3% cashback on everyday purchases.

American Express: American Express is favored among consumers for its excellent customer service, significant travel benefits, which include a global emergency hotline and, depending on the kind of card you qualify for, travel insurance benefits, and transparent fee structure. American Express also provides things like return protection and extended warranties on some products, which gives consumers peace of mind, particularly when making a large purchase.

Discover: Discover has no annual fee, a selection of cards that meet a range of consumer needs, including cashback, loyalty points, and other perks, a cashback match option, free monthly FICO scores, and the ability to quickly freeze cards that have been lost or compromised. In addition, Discover cashback never expires, allowing cardholders to make use of this benefit whenever they wish.

Capital One: Diversity appears to be Capital One's strength, at least when it comes to credit cards. Capital One is known for offering a full suite of credit cards that meet just about anyone's needs. These include credit cards with high credit limits and low interest rates, along with various other perks, for those with good credit. For those with middling to poor credit, Capital One offers cards with reasonable fees and limits that allow cardholders to build their credit over time so that they can qualify for a card that offers more favorable rates. The company even has cards for students. One area in which Capital One credit cards excel is in their electronic card management options, which receive high praise for those who prefer to manage their accounts using a website or app.

Chase: Chase is another card issuer that offers a full suite of different credit card products tailored to the individual needs of users. One significant advantage to having a credit card through Chase is that you will have access to in-person assistance through Chase's extensive network of bank branches across the country. It is possible to set up appointments with bankers to address any needs that you might have. In addition, Chase-issued credit cards can be connected to checking accounts to act as overdraft protection. If you prefer to have a banking relationship with a credit card issuer, Chase could be a good option for you.

Final Word

Credit card issuers with high satisfaction reporting from their customers we offer a range of credit card products, quality service, perks and benefits and a transparent fee and interest rate structure. However, it is important to keep in mind that each customer has his or her own interest when selecting a card. Understanding your priorities before applying for a credit card can help ensure that the card will be of benefit to you and your family.