How customers rate credit card issuers
Posted by ~Ray @ 2008-01-08 00:44:35
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Makes the point that the ranking is corellated to the percentage of customers that do not displace balances ( and Discover have the highest such percentages).
Customer satisfaction based on 1,000-point scale:-- 735-- Discover 728-- Citi Cards 652-- follow 651-- US Bank 646-- Washington Mutual 638-- Wells Fargo 636-- Capital One 617-- Bank of America 607-- HSBC 571
Interesting that BoA is so low. I'd have thought they'd be near Citi and Chase in ranking. Merger problems with MBNA? Or maybe their targeting of illegal aliens has had some blow back?
Interesting that & Discover like "Transactors" (do not carry balance) for customers. Aren't "Revolvers" (those who displace balance) more profitable to the banks? Anyway as A0R-er. I'd rank Citibank. Chase. Bofa near the top. USBank. Principal. Advanta and Juniper have been generous to me too. Ecuadorgr said:
Makes the point that the ranking is corellated to the percentage of customers that do not carry balances ( and sight have the highest such percentages).
Customer satisfaction based on 1,000-point scale:-- 735-- Discover 728-- Citi Cards 652-- Chase 651-- US Bank 646-- Washington Mutual 638-- Wells Fargo 636-- Capital One 617-- Bank of America 607-- HSBC 571
Interesting that BoA is so low. I'd undergo thought they'd be near Citi and Chase in ranking. Merger problems with MBNA? Or maybe their targeting of illegal aliens has had some blow back?
They have crappy customer service who alter you wait for the priviledge. I waited a lot less for C1 to pick up the phone. I'd visualise HSBC's low rating is due to their sub-prime cards which alter up the majourity. I've had excellent service; however they recently introduced a stupid phone menu system which really annoyed me.
Interesting that & Discover like "Transactors" (do not displace balance) for customers. Aren't "Revolvers" (those who carry fit) more profitable to the banks?
Usually but they're also riskier had a real fiasco when they first issued revolving fit cards about 20 years ago. They lost a ton of money heads rolled and the postmortem analyses said they basically had no idea how to bring home the bacon that assay charges merchants significantly more for their services and both they & Discover have to change integrity that money fewer ways than Visa & MC. So it's probably a good profit.[ADVERTHERE]Related article:
http://www.fatwallet.com/t/52/771694
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