Category: Financial Services|PaymentsUnited States

Half of Small Business Credit Card Customers Struggle with Financial Health as Majority of Those Businesses Carry Revolving Debt, JD Power Finds

2024-11-26

jillian.breska

TROY, Mich.: 3 Dec. 2024 — While 83% of U.S. small businesses expect more good than bad things to happen for their companies, more than half (51%) are currently categorized as financially unhealthy.[1] Among those who are financially unhealthy, 61% are carrying revolving debt on their business credit cards and  63% are borrowing with those cards to fund operating expenses, according to the JD Power 2024 U.S. Small Business Credit Card Satisfaction Study,^SM released today. The findings put a spotlight on the tenuous nature of the small business economy and the critical role that business credit cards are playing in keeping merchants afloat.

“The small business economy is highly bifurcated right now, with 46% indicating they are better off financially than they were a year ago and 49% categorized as financially healthy,” said John Cabell, managing director of payments intelligence at JD Power. “But the other half of small businesses are clearly struggling. Among those that are struggling, business credit cards have been a lifeline but the buildup of revolving debt they are accumulating should raise some concerns. Notably, overall satisfaction scores and perceived value of card benefits and rewards are lower among small businesses seeking credit. This gap among businesses that rely on cards the most is putting brand loyalty and advocacy at risk.”

Following are some key findings of the 2024 study:

• Small business outlook either half full or half empty: Overall, 46% of small business credit card customers describe the financial state of their company as better off than a year ago and 49% describe it as about the same. Just 5% say they are worse off this year than in 2023. When it comes to financial health metrics, however, just 49% of small businesses are financially healthy, while 27% are vulnerable, 15% are capital constrained and 8% are cash constrained.
• Revolving debt mounts: More than one-fourth (26%) of U.S. small businesses are credit-seeking heavy users of credit cards and payment plans.  Among businesses that use credit cards, 63% of those with card debt are also financially unhealthy. Within this group, 15% also have used a fixed payment plan on their credit card and 24% have used buy-now-pay-later plans for business expenses—yet only a fraction of these businesses (10%) plan to decrease spending in the next year.
• Customer satisfaction directly correlated with business outlook: Overall satisfaction among small business credit card customers who say their business is better off today than a year ago is 67 points higher (on a 1,000-point scale) than among those who say their business is about the same, and 135 points higher than among those who say their business is worse off this year. Satisfaction drops by 143 points when a business is financially unhealthy vs. if it is financially healthy.
• Advocacy and loyalty at risk: The likelihood of those small business card customers who say they “definitely will not” switch cards in the next year drops to 20% among financially unhealthy card users vs. 37% among financially healthy card users. Credit limits and interest rates are influencing possible defection. Further, the percentage of small business card clients willing to be promoters and refer new business to their issuer falls to 50% from 77% when a business is unhealthy than when a business is healthy.
• Rewards programs and benefits not connecting with all cardholders: Nearly half (49%) of small business card customers say their card offers important benefits including priority boarding, free late checkout, free shipping, expedited security at airport and free companion ticket. Slightly more than one-third (36%) say the rewards they earn help their business, a percentage that peaks at only 40% among those without revolving card debt.

Study Ranking

American Express ranks highest in customer satisfaction for a fourth consecutive year, with a score of 735.

The U.S. Small Business Credit Card Satisfaction Study was redesigned for 2024. Scores are not comparable year-over-year with previous studies. The study measures customer satisfaction with the largest small business credit card issuers in the U.S. across seven core dimensions (in order of importance): account management; meeting my business needs; terms; benefits; rewards redeeming; rewards earning; and customer service. The study is based on responses gathered from 3,303 small business credit card customers whose business has an approximate annual revenue between $10,000 and $10 million. The study was fielded in July-September 2024.

For more information about the U.S. Small Business Credit Card Satisfaction Study, visit https://www.jdpower.com/business/resource/us-small-business-credit-card-study.

About JD Power
JD Power is a global leader in consumer insights, advisory services, and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, JD Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 55 years. The world’s leading businesses across major industries rely on JD Power to guide their customer-facing strategies.

JD Power has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The JD Power auto-shopping tool can be found at JDPower.com.

Media Relations Contacts
Geno Effler, JD Power; West Coast; 714-621-6224; [email protected]
John Roderick; East Coast; 631-584-2200; [email protected] 

About JD Power and Advertising/Promotional Rules: www.jdpower.com/business/about-us/press-release-info

¹JD Power measures the financial health of small businesses as a metric combining their creditworthiness, access to affordable funding and credit and safety net items like insurance coverage. Businesses are placed on a continuum from healthy to vulnerable.

 

Despite Ubiquity, Credit and Debit Card Processing Drags Down Small Business Satisfaction with Merchant Services Providers, JD Power Finds

2024-01-30

jillian.breska

TROY, Mich.: 1 Feb. 2024 — Small business owners are optimistic about the future, with 88% indicating the financial state of their individual businesses is about the same or better off than a year ago, which should bode well for merchant services providers. According to the JD Power 2024 U.S. Merchant Services Satisfaction Study,^SM released today, small business financial optimism is correlated with increased sales processed by merchant services providers. There are 94% of merchants that now accept debit or credit cards; 88% that accept digital wallet; and 54% that accept Buy Now, Pay Later (BNPL) payment methods. However, when it comes to small business satisfaction with those services, scores are lowest among merchants for processing widely accepted payment types such as credit and debit card transactions and are highest for processing less widely accepted payment types like BNPL.

“We’re seeing an interesting disconnect in the merchant services marketplace whereby the most frequently processed forms of payment—credit and debit cards—generate the lowest levels of overall satisfaction among small business owners, while less common payment types such as BNPL, pay by bank and gift cards drive higher satisfaction,” said John Cabell, managing director of payments intelligence at JD Power. “Part of that is driven by demographics. Younger, newer business owners are more apt to accept a wide variety of payment types and have higher overall satisfaction with their merchant services providers. However, we’re also seeing some challenges across the board with debit and credit when it comes to delays in account funding, cost and fees and fraud management.”

Following are key findings of the 2024 study:

• Credit and debit reign supreme on usage, but fail to deliver on satisfaction: Overall, 94% of small businesses accept debit or credit card payments. Most merchants have their credit card (81%) and debit card (80%) payments processed by their provider. Despite being the most processed forms of payment, overall merchant services satisfaction scores are lowest across all aspects of the customer experience among small businesses that have credit cards (692 on a 1,000-point scale) and debit cards (694) processed by their provider.
• Satisfaction highest among businesses where BNPL is processed: Slightly more than half (54%) of small businesses accept BNPL and just 27% of merchants report processing BNPL with a profiled brand; satisfaction scores are highest (744) among small businesses that do have this payment type processed. Overall merchant services satisfaction rises as businesses process more payment options, reaching a high score of 793 among the 4% of businesses that cite six different payment types processed.
• Gap emerges between small business innovators and traditionalists: Two distinct categories of small business owners have begun to emerge in the study dataset: innovators, who represent 47% of the study population and are younger, newer business owners who are more likely to accept a wide variety of payment types, and traditionalists, who represent 53% of the study population and are older and prefer cash, checks and in-person purchases. Overall merchant services provider satisfaction is significantly higher among innovators.
• Cost, fraud risk and complexity emerge as top obstacles: Among small business owners who are unwilling to accept credit and debit cards, higher cost of acceptance and higher risk of fraud/theft are top reasons. Among those who are unwilling to accept BNPL, digital wallet or pay-by-bank payments, the primary reasons are difficulty of use/complicated process and too much effort versus other priorities.

Study Ranking

Shopify ranks highest in merchant services satisfaction, with a score of 728. Paysafe (725) ranks second and Bank of America (713) ranks third.

The U.S. Merchant Services Satisfaction Study was redesigned in 2024. It is based on responses from 5,383 small business customers of merchant services providers and measures satisfaction across six dimensions (in alphabetical order): advice and guidance on running your business; cost of processing payments; data security and protection; managing my account; payment processing; and quality of technology. The study was fielded from September through November 2023.

The brands evaluated are the U.S. merchant services providers with largest market share. Overall satisfaction results reflect overall corporate results, meaning they can include the results of various sub-brands or alternate brand names that operate under the respective corporate brand names. In some cases, brands profiled also currently have or recently have had joint partnerships to provide merchant services to small business clients. 

For more information about the U.S. Merchant Services Satisfaction Study, visit https://www.jdpower.com/business/merchant-services-satisfaction-study.

About JD Power
JD Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, JD Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world’s leading businesses across major industries rely on JD Power to guide their customer-facing strategies.

JD Power has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The JD Power auto shopping tool can be found at JDPower.com.

Media Relations Contacts
Geno Effler, JD Power; West Coast; 714-621-6224; [email protected]
John Roderick; East Coast; 631-584-2200; [email protected]

About JD Power and Advertising/Promotional Rules: www.jdpower.com/business/about-us/press-release-info

 

Small Business Credit Card Customer Satisfaction Surpasses Pre-Pandemic Highs as Financial Outlook Improves, JD Power Finds

2023-12-04

jillian.breska

TROY, Mich.: 7 Dec. 2023 — Small businesses are more optimistic about the future; they’re spending more money, and they are more satisfied with their credit card providers. According to the JD Power 2023 U.S. Small Business Credit Card Satisfaction Study,^SM released today, that growing sense of confidence among small businesses is helping to drive overall satisfaction with business credit card issuers higher than its peak level in 2019.

“Card issuers have done a great job of delivering to small business owners services and rewards programs that have helped them through a tough economic period, and now, as the business outlook improves, issuers are being rewarded with higher spend and higher levels of customer satisfaction,” said John Cabell, managing director of payments intelligence at JD Power. “However, with interest rates still elevated, two areas of the customer experience that are still lagging are reasonableness of fees and competitiveness of rates. These will need to be managed carefully by issuers during the next year as more small businesses seek low interest payment plans.”

Following are some key findings of the 2023 study:

• Satisfaction rises as small business outlook improves: Overall satisfaction among small business credit card customers is 858 (on a 1,000-point scale), which is up a significant 7 points from 2022 and up 9 points from 2019.  Overall, 38% of small businesses say they are financially better off than they were a year ago, up from 34% in 2022. Also, 41% of small businesses are carrying revolving debt, down from 44% in 2022.
• Business card expenditures increase: With small businesses now spending an average of $13,000 per month[1] on their credit cards, 78% are using their business cards for office supplies, 70% are using them for operating expenses, 65% are using them for travel, 55% are using them for inventory, 49% are using them for meals and 37% are using them for raw materials.
• Despite satisfaction gains, credit card terms could be an issue: Business credit card issuers see improvements in customer satisfaction across nearly every factor evaluated in this year’s study, with the exception of credit card terms, which remained flat year over year. Biggest customer concerns with credit card terms are with reasonableness of fees and competitiveness of interest rates, especially among businesses with smaller annual revenues.
• Rewards programs are critical to small business customer satisfaction: Small business customers who spend $20,000 or more per month have higher levels of overall satisfaction with their card issuers, driven largely by increased interaction and improved alignment of spending with reward programs. Highest spenders are also likely to use five or more supplementary card benefits, which further increase overall customer engagement and satisfaction.

Study Ranking

American Express ranks highest in customer satisfaction for a third consecutive year, with a score of 873. Capital One (866) ranks second and PNC (858) ranks third.

The 2023 U.S. Small Business Credit Card Satisfaction Study, now in its fifth year, measures customer satisfaction with the largest small business credit card issuers in the U.S. by examining six factors (in alphabetical order): benefits and services; channel activities; credit card management; credit card terms; key moments; and rewards. The study includes responses from 3,443 small business credit card customers whose businesses have an approximate annual revenue between $10,000 and $10 million. The study was fielded in August-September 2023.

For more information about the U.S. Small Business Credit Card Satisfaction Study, visit https://www.jdpower.com/business/resource/us-small-business-credit-card-study.

About JD Power
JD Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, JD Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world’s leading businesses across major industries rely on JD Power to guide their customer-facing strategies.

JD Power has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The JD Power auto shopping tool can be found at JDPower.com.

Media Relations Contacts
Geno Effler, JD Power; West Coast; 714-621-6224; [email protected]
John Roderick; East Coast; 631-584-2200; [email protected]

About JD Power and Advertising/Promotional Rules: www.jdpower.com/business/about-us/press-release-info

[1] Intuit QuickBooks Small Business Index Annual Report 2023 https://quickbooks.intuit.com/r/small-business-data/index-annual-report-2023/

 

Credit Card Issuers Must Confront Consumers’ Mounting Debt, JD Power Finds

2023-08-16

jillian.breska

Troy, Mich.: 17 Aug. 2023 – Total U.S. credit card debt increased $45 billion between April and June of this year and has now topped the $1 trillion mark, according to the New York Federal Reserve. For the nation’s credit card issuers that inauspicious milestone, combined with several other consumer behavioral trends, should be cause for concern. According to the JD Power 2023 U.S. Credit Card Satisfaction Study,^SM released today, 51% of U.S. credit cardholders now carry revolving debt at an average overall self-reported interest rate of 14.8%. As the overall financial health of cardholders deteriorates, customer satisfaction with rewards programs and other perks designed to build loyalty is suffering.

“The pandemic-era savings cushions are gone, the economy is shaky and consumers are leaning more heavily than ever on their credit cards to cover day-to-day expenses,” said John Cabell, managing director of payments intelligence at JD Power. “This is a make-or-break moment for card issuers. While high levels of revolving debt and declining financial health typically have a negative effect on cardholder satisfaction and loyalty, issuers do have an opportunity to help customers by encouraging the use of payment plans and taking other steps to build goodwill and trust.”

Following are some key findings of the 2023 study:

• Revolving debt and cardholder financial health in the spotlight: More than half (51%) of U.S. credit card customers are maintaining revolving debt on their credit cards. Among those cardholders classified as financially unhealthy,¹ the percentage jumps to 69%. Among those with card debt in the financially unhealthy category, the self-reported interest rate climbs to 16.5%, still lower than many publicly reported averages might suggest. Further, only 11% of financially unhealthy cardholders strongly agree their card helps them control their spending.
• Reward satisfaction suffers: Despite continual efforts by card issuers to build ever more competitive rewards programs, rewards earning has the lowest level of overall satisfaction of the seven factors evaluated in the study. This is driven by less favorable ratings on the amount of rewards earned per dollar spent, especially among cashback cardholders. In fact, the top reason given for switching card providers is seeking a better rewards program.
• Annual fee cards most beloved: Cardholders who say their annual fees average $100 or more have the highest satisfaction with benefits and rewards earning, even more so than those who have cards with lesser or no annual fees. However, cardholders paying a hefty $500 or more in annual fees have more reservations, showing lower satisfaction with the attribute of reasonableness of annual fee, considering the rewards/benefits offered. Airline cardholders also have high rewards and benefits satisfaction, but it is offset by lower satisfaction with terms (e.g., interest rates, credit limits, fees).
• Payment plans can be effective, but usage erratic: Cardholder participation in credit card payment plans is associated with a 102-point increase in customer satisfaction (on a 1,000-point scale). Despite these positive effects, few customers use these issuer-sponsored payment plans, with usage varying widely from a low of 9% to a high of 23%. Payment plans are used most often by cardholders who are financially healthy or overextended. Nearly half (41%) of the most vulnerable cardholders say they would be willing to consider a Buy Now Pay Later plan from a different lender.
• FinTech issuers resonating with consumers: Newer and enticing credit card offerings from FinTech providers such as Chime, Self, Ollo and others are driving consistently higher levels of overall satisfaction and stronger levels of brand trust than are traditional, bank-branded cards.  FinTech issuers cater especially well to cardholders who are younger, have credit card debt and are more focused on building credit than on earning rewards.

Study Rankings

American Express ranks highest in customer satisfaction among credit card issuers, with a score of 657. This is the fourth consecutive year in which American Express has won a segment award.² Bank of America (629) and Discover (629) each rank second in a tie.

Capital One SavorOne Rewards Card ranks highest in customer satisfaction among bank rewards credit cards with no annual fee, with a score of 666. Discover it Student Cash Back (658) ranks second and Blue Cash Everyday Card (American Express) (655) ranks third.

Bank of America Premium Rewards Elite ranks highest in customer satisfaction among bank rewards credit cards with an annual fee, with a score of 712. American Express Gold Card (693) ranks second and The Platinum Card from American Express (687) ranks third.

Platinum Secured (Capital One) ranks highest in customer satisfaction among bank credit cards with no rewards or annual fee, with a score of 620.

JetBlue Plus Card (Barclays) ranks highest in customer satisfaction among airline co-branded credit cards, with a score of 643. Southwest Rapid Rewards Plus Card (Chase) (628) ranks second and Citi American Airlines AAdvantage MileUp Mastercard Card (614) ranks third.

Apple Card (Goldman Sachs) ranks highest in customer satisfaction among co-brand credit cards with no annual fee, with a score of 655. This is the third consecutive year in which Apple Card and issuer Goldman Sachs have collectively won a segment award.³ Hilton Honors American Express Card (638) ranks second, while Amazon Prime Rewards Visa Signature Card (Chase) (636) and PayPal Cashback Mastercard (Synchrony Bank) (636) each rank third in a tie.

The U.S. Credit Card Satisfaction Study, now in its 17th year, was redesigned for 2023. It measures customer satisfaction with credit card issuers by examining seven factors (in alphabetical order): account management; benefits; customer service; new account; rewards earning; rewards redeeming; and terms. The study includes responses from 31,418 credit card customers and was fielded from August 2022 through June 2023.

For more information about the U.S. Credit Card Satisfaction Study, visit https://www.jdpower.com/business/resource/us-credit-card-satisfaction-study.

About JD Power
JD Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, JD Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world’s leading businesses across major industries rely on JD Power to guide their customer-facing strategies.

JD Power has offices in North America, Europe and Asia Pacific. To learn more about the company’s business offerings, visit JDPower.com/business. The JD Power auto shopping tool can be found at JDPower.com.

Media Relations Contacts
Geno Effler, JD Power; West Coast; 714-621-6224; [email protected]
John Roderick; East Coast; 631-584-2200; [email protected]

About JD Power and Advertising/Promotional Rules: www.jdpower.com/business/about-us/press-release-info

¹JD Power measures the financial health of any consumer as a metric combining their spending/savings ratio, creditworthiness, and safety net items like insurance coverage. Consumers are placed on a continuum from healthy to vulnerable.

² JD Power 2023 U.S. Credit Card Satisfaction Study: Credit Card Issuers segment, which includes issuers with more than 1,000,000 active accounts, excluding co-branded cards. JD Power 2020-2022 U.S. Credit Card Satisfaction Studies: National Issuers segment, which included issuers with more than 4,000,000 active accounts. Visit jdpower.com/awards for more details.

³ JD Power 2023 U.S. Credit Card Satisfaction Study: Co-Branded Credit Cards segment, excludes airline cards. JD Power 2020-2022 U.S. Credit Card Satisfaction Studies: Midsize Issuers segment, which included issuers with 275,000-4,000,000 active accounts. Visit jdpower.com/awards for more details.

2023 Best Credit Card Issuers
Overall Customer Satisfaction Index Ranking (Based on a 1,000-point scale)
Credit Card Issuers	Score
American Express	657
Bank of America	629
Discover	629
Capital One	616
Issuer Average	609
Chase	607
Citi	606
Wells Fargo	602
Fifth Third	584
U.S. Bank	576
PNC	574
FNBO	572
TD Bank	572
Merrick Bank	567
Truist	557
Premier Bankcard	529
Credit One Bank	496
—————————-	——
USAA^	647
Navy Federal^	642
Barclays^	577
—————————-	——
Note: Co-brand cards are excluded from the above rankings.
^Brand is not rank eligible because it does not meet study award criteria.
Source: JD Power 2023 U.S. Credit Card Satisfaction Study
Charts and graphs extracted from this press release for use by the media must be accompanied by a statement identifying JD Power as the publisher and the study from which it originated as the source. Rankings are based on numerical scores, and not necessarily on statistical significance. No advertising or other promotional use can be made of the information in this release or JD Power survey results without the express prior written consent of JD Power.

 

2023 Best Bank Rewards Credit Cards – No Annual Fee
Overall Customer Satisfaction Index Ranking (Based on a 1,000-point scale)
Bank Rewards Credit Cards – No Annual Fee	Score
Capital One SavorOne Rewards Card	666
Discover it Student Cash Back	658
Blue Cash Everyday Card (American Express)	655
Chase Freedom Unlimited	653
Chase Freedom Flex	650
Citi Double Cash Card	650
Active Cash Visa Signature (Wells Fargo)	644
Bank of America Unlimited Cash Rewards	643
Bank of America Customized Cash Rewards for Students	635
Discover it Cash Back	634
Capital One Quicksilver Rewards	629
Segment Average	626
Citi Custom Cash Card	622
Bank of America Customized Cash Rewards Secured	621
Bank of America Customized Cash Rewards	618
Discover it Miles	618
Fifth Third 1.67% Cash/Back card	615
Chase Sapphire	614
Bank of America Travel Rewards	613
Discover it Chrome Gas & Restaurant Card	606
Citi Rewards+ Card	602
Capital One VentureOne Rewards	597
PNC Cash Rewards Visa Card	597
Quicksilver Secured Rewards (Capital One)	596
Amex Everyday Card	594
Discover it Secured credit card	594
Cash Plus+ Secured Visa Credit Card (U.S. Bank)	557
TD Cash Card	552
Enjoy Cash credit card (Truist)	551
PNC Points Visa Credit Card	547
Navy Federal cashRewards^	662
USAA Preferred Cash Rewards Visa Signature Credit Card^	648
Navy Federal GO REWARDS Card^	646
USAA Rewards Visa Signature Credit Card^	630
—————————-	——
^Brand is not rank eligible because it does not meet study award criteria.
Source: JD Power 2023 U.S. Credit Card Satisfaction Study
Charts and graphs extracted from this press release for use by the media must be accompanied by a statement identifying JD Power as the publisher and the study from which it originated as the source. Rankings are based on numerical scores, and not necessarily on statistical significance. No advertising or other promotional use can be made of the information in this release or JD Power survey results without the express prior written consent of JD Power.

 

2023 Best Bank Rewards Credit Cards – Annual Fee
Overall Customer Satisfaction Index Ranking (Based on a 1,000-point scale)
Bank Rewards Credit Cards – Annual Fee	Score
Bank of America Premium Rewards Elite	712
American Express Gold Card	693
The Platinum Card from American Express	687
Blue Cash Preferred Card (American Express)	673
Capital One Savor Rewards Card	670
Capital One Venture X	667
Bank of America Premium Rewards Visa Signature	662
Chase Sapphire Preferred	656
Chase Sapphire Reserve	647
Capital One Venture Rewards	639
Capital One QuicksilverOne Rewards	637
Segment Average	611
American Express Green Card	609
Citi Premier Card	607
Amex Everyday Preferred Card	605
Credit One Bank Platinum X5 Visa	504
Credit One Bank American Express Card	501
Credit One Bank Platinum Visa	496
—————————-	——
Source: JD Power 2023 U.S. Credit Card Satisfaction Study
Charts and graphs extracted from this press release for use by the media must be accompanied by a statement identifying JD Power as the publisher and the study from which it originated as the source. Rankings are based on numerical scores, and not necessarily on statistical significance. No advertising or other promotional use can be made of the information in this release or JD Power survey results without the express prior written consent of JD Power.

 

2023 Best Bank Credit Cards – No Rewards or Annual Fee
Overall Customer Satisfaction Index Ranking (Based on a 1,000-point scale)
Bank Credit Cards – No Rewards or Annual Fee	Score
Platinum Secured   Card (Capital One)	620
Segment Average	598
BankAmericard	569
Citi Simplicity Card	559
PNC Core Visa Card	550
Citi Diamond Preferred Card	535
USAA Rate Advantage Visa Platinum Credit Card^	679
Navy Federal Platinum^	633
Capital One Platinum Mastercard^	618
—————————-	——
^Brand is not rank eligible because it does not meet study award criteria.
Source: JD Power 2023 U.S. Credit Card Satisfaction Study
Charts and graphs extracted from this press release for use by the media must be accompanied by a statement identifying JD Power as the publisher and the study from which it originated as the source. Rankings are based on numerical scores, and not necessarily on statistical significance. No advertising or other promotional use can be made of the information in this release or JD Power survey results without the express prior written consent of JD Power.

 

2023 Best Airline Co-Brand Credit Cards
Overall Customer Satisfaction Index Ranking (Based on a 1,000-point scale)
Airline Co-Brand Credit Cards	Score
JetBlue Plus Card (Barclays)	643
Southwest Rapid Rewards Plus Card (Chase)	628
Citi American Airlines AAdvantage MileUp Mastercard Card	614
Segment Average	612
Southwest Rapid Rewards Premier Card (Chase)	610
Delta SkyMiles Platinum American Express Card	608
United Explorer Card (Chase)	606
Alaska Airlines Visa Signature Card (Bank of America)	596
Citi / AAdvantage Platinum Select World Elite Mastercard	589
Delta SkyMiles Gold American Express Card	578
AAdvantage Aviator Red Mastercard (Barclays)	550
—————————-	——
Source: JD Power 2023 U.S. Credit Card Satisfaction Study
Charts and graphs extracted from this press release for use by the media must be accompanied by a statement identifying JD Power as the publisher and the study from which it originated as the source. Rankings are based on numerical scores, and not necessarily on statistical significance. No advertising or other promotional use can be made of the information in this release or JD Power survey results without the express prior written consent of JD Power.

 

2023 Best Co-Brand Credit Cards – No Annual Fee
Overall Customer Satisfaction Index Ranking (Based on a 1,000-point scale)
Co-Brand Credit Cards – No Annual Fee	Score
Apple Card (Goldman Sachs)	655
Hilton Honors American Express Card	638
Amazon Prime Rewards Visa Signature Card (Chase)	636
PayPal Cashback Mastercard (Synchrony Bank)	636
Costco Anywhere Visa by Citi	630
Segment Average	617
Amazon Rewards Visa Signature Card (Chase)	603
Sam’s Club Mastercard (Synchrony Bank)	600
Capital One Walmart Rewards Card	594
Disney Visa Credit Card (Chase)	593
Kroger Rewards World Elite Mastercard (U.S. Bank)	593
—————————-	——
Source: JD Power 2023 U.S. Credit Card Satisfaction Study
Charts and graphs extracted from this press release for use by the media must be accompanied by a statement identifying JD Power as the publisher and the study from which it originated as the source. Rankings are based on numerical scores, and not necessarily on statistical significance. No advertising or other promotional use can be made of the information in this release or JD Power survey results without the express prior written consent of JD Power.