American Express and Discover are Among the Best in
Credit Card Customer Satisfaction
October 9, 2007
The J.D. Power and Associates 2007 Credit Card Satisfaction
StudySM reports that American Express ranked the highest in
overall customer satisfaction among credit card issuers. Ten
credit card issuers were examined and were ranked on factors
including benefits and features, rewards, billing and payment
process, fees and rates, and problem resolution. American
Express ranked the highest with a score of 735 on a 1,000 point
scale and Discover was a close second with a score of 728.
American Express ranked rather well in benefits and features, and
problem resolution while Discover ranked well in rewards, and
billing and payment.
The rankings and scores of the credit card issuers examined:
1. American Express 735
2. Discover 728
3. Citi Cards 652
4. Chase 651
5. US Bank 646
6. WaMu (Washington Mutual) 638
7. Wells Fargo 636
8. Capital One 617
9. Bank of America 607
10. HSBC 571
Bank of America Re-Introduces BankAmericard® Credit
Card
October 16, 2007
Bank of America announced today that they will re-introduce the
BankAmericard®. The original BankAmericard® was the first
nationally accepted bank credit card and transformed the
consumer credit industry almost 50 years ago. The new
BankAmericard Rewards™ Visa® card features one of the most
flexible rewards programs around and has no annual fee.
Customers will earn 1.25 points for every dollar they spend on
purchases using their BankAmericard Rewards™ Visa® card. In
addition, customers will earn an annual rewards bonus of 25% for
maintaining their Bank of America relationship. Also unlike other
reward programs the BankAmericard Rewards™ Visa® card does
not have a limit to the number of points you may earn. Customers
can redeem their reward points for travel, cash, gift cards,
merchandise, unique experiences, charitable donations,
environmental contributions, and more.
The Federal Reserve Cuts the Federal Funds Rate by .25%
October 31, 2007
The Federal Reserve cut a key interest rate that influences how
much interest consumers pay on credit card debt, personal loans,
auto loans, and equity lines of credit. The Federal Reserve cut
the Federal Funds Rate ,an overnight lending rate for banks, by a
quarter of a point to 4.5%. The Feds most recent rate cut comes
on the heels of a half point rate cut that the central bank made in
September. The rate cut is good news for consumers who owe
money on credit cards that have variable interest rates. The rate
that you pay on a variable rate credit card will drop which means
you pay less money on interest and it may lower your monthly
payments.
Credit Card Customer Satisfaction
October 9, 2007
The J.D. Power and Associates 2007 Credit Card Satisfaction
StudySM reports that American Express ranked the highest in
overall customer satisfaction among credit card issuers. Ten
credit card issuers were examined and were ranked on factors
including benefits and features, rewards, billing and payment
process, fees and rates, and problem resolution. American
Express ranked the highest with a score of 735 on a 1,000 point
scale and Discover was a close second with a score of 728.
American Express ranked rather well in benefits and features, and
problem resolution while Discover ranked well in rewards, and
billing and payment.
The rankings and scores of the credit card issuers examined:
1. American Express 735
2. Discover 728
3. Citi Cards 652
4. Chase 651
5. US Bank 646
6. WaMu (Washington Mutual) 638
7. Wells Fargo 636
8. Capital One 617
9. Bank of America 607
10. HSBC 571
Bank of America Re-Introduces BankAmericard® Credit
Card
October 16, 2007
Bank of America announced today that they will re-introduce the
BankAmericard®. The original BankAmericard® was the first
nationally accepted bank credit card and transformed the
consumer credit industry almost 50 years ago. The new
BankAmericard Rewards™ Visa® card features one of the most
flexible rewards programs around and has no annual fee.
Customers will earn 1.25 points for every dollar they spend on
purchases using their BankAmericard Rewards™ Visa® card. In
addition, customers will earn an annual rewards bonus of 25% for
maintaining their Bank of America relationship. Also unlike other
reward programs the BankAmericard Rewards™ Visa® card does
not have a limit to the number of points you may earn. Customers
can redeem their reward points for travel, cash, gift cards,
merchandise, unique experiences, charitable donations,
environmental contributions, and more.
The Federal Reserve Cuts the Federal Funds Rate by .25%
October 31, 2007
The Federal Reserve cut a key interest rate that influences how
much interest consumers pay on credit card debt, personal loans,
auto loans, and equity lines of credit. The Federal Reserve cut
the Federal Funds Rate ,an overnight lending rate for banks, by a
quarter of a point to 4.5%. The Feds most recent rate cut comes
on the heels of a half point rate cut that the central bank made in
September. The rate cut is good news for consumers who owe
money on credit cards that have variable interest rates. The rate
that you pay on a variable rate credit card will drop which means
you pay less money on interest and it may lower your monthly
payments.
Credit News
October 2007
October 2007
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