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USAA and Discover Earn Top Customer Experience Ratings for Credit Cards, According to Temkin Group

WABAN, MA - USAA and Discover deliver the best customer experience in the credit card industry, according to the 2018 Temkin Experience Ratings, an annual customer experience benchmark of companies based on a survey of 10,000 U.S. consumers.

Of the 11 credit card issuers included in this year's Ratings, USAA earned the highest score with a rating of 77%, putting it in 42nd place overall out of 318 companies across 20 industries. Discover received the second highest rating in the industry, with a score of 75% and an overall rank of 65th. This is the second year in a row that these two firms have lead the industry.

Overall, the credit card industry averaged a 69% rating in the 2018 Temkin Experience Ratings and came in 8th place out of 20 industries. The average rating of the industry declined by 0.3 percentage-points between 2017 and 2018, going down from 69.8% to 69.5%.

The ratings of all credit card issuers in the 2018 Temkin Experience Ratings are as follows:

• USAA: 77%

• Discover: 75%

• Barclaycard: 73%

• Chase: 72%

• American Express: 71%

• Citigroup: 68%

• U.S. Bank: 68%

• Capital One: 67%

• Bank of America: 66%

• Wells Fargo: 64%

• HSBC: 52%

"In 2017, many of these credit card issuers saw double-digit increases in their scores. The fact they managed – for the most part – to sustain those higher scores shows that those gains were not just an anomaly, but actually represented legitimate improvements to their customer experience," states Bruce Temkin, managing partner of Temkin Group.

USAA's customer experience score improved the most over the previous year, gaining four percentage-points. HSBC's score, on the other hand, declined the most, dropping by seventeen points.

Now in its eighth year of publication, the 2018 Temkin Experience Ratings is the most comprehensive benchmark of customer experience in the industry, evaluating 318 companies across 20 industries: airlines, auto dealers, banks, computer & tablet makers, credit card issuers, fast food chains, health plans, hotels & rooms, insurance carriers, investment firms, parcel delivery services, rental cars & transport, retailers, software firms, streaming media, supermarket chains, TV & appliance makers, TV/Internet service providers, utilities, and wireless carriers.

To generate these ratings, Temkin Group asked 10,000 U.S. consumers to evaluate their recent experiences with a company across three dimensions: success (can you do what you want to do?), effort (how easy is it to work with the company?), and emotion (how do you feel about the interactions?). Temkin Group then averaged these three scores to produce each company's Temkin Experience Rating.

In these ratings, a score of 70% or above is considered "good," and a score of 80% or above is considered "excellent," while a score below 60% is considered "poor."

Temkin Group is a leading customer experience research, consulting, and training firm. Many of the world's largest brands rely on its insights and advice to steer their transformational journeys, and Temkin Group accelerates their results by combining customer experience thought leadership with a deep understanding of organizational dynamics. Rather than layering on cosmetic changes, Temkin Group helps companies embed practices within their culture by building up four core competencies: Purposeful Leadership, Employee Engagement, Compelling Brand Values, and Customer Connectedness. The firm's ongoing research identifies leading and emerging best practices for engaging the hearts and minds of customers, employees, and partners.

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