The Drivers of Consumer Satisfaction Among Credit Card Issuers

Javelin surveyed three demographic age groups for this study—Baby Boomers (1945-1965), Gen X (1961-1981) and Gen Y (1979-1999). The six prominent credit card issuers—American Express, Bank of America, Capital One, Citi and Discover—provided a broad basis representative of the issuer community. Findings show that security, online experience, rewards programs and interest rate are driving factors in how consumers make decisions when selecting an issuer or choosing a card at the point of sale.

Across all three age groups, security from identity fraud is paramount with more than 80% citing this as an important concern. Javelin also cautions that, as fear of data breaches rise, security at the point of purchase increases in importance to consumers.

“Security fear at the point of purchase is important for issuers to understand,” said James Van Dyke, President at Javelin Strategy & Research. “The focus and press coverage that data breaches have received as a point of vulnerability in card fraud, has led to an increased focus by consumers on security features of their cards when choosing one to make a purchase. Therefore, we believe that those issuers successful in creating a higher level of peace-of-mind among cardholders will hold the key to engendering top-of-wallet status.”

This new report from Javelin provides card issuers with relevant analysis and strategic guidance to build their customer base, increase loyalty among existing cardholders and drive usage of their card during a transaction. For more information about Credit Card Customer Satisfaction—An Effective Acquisition and Retention Strategy Must Focus on Multiple Facets of the Relationship or other Javelin reports, please visit http://www.javelinstrategy.com/research, email inquiry@javelinstrategy.com or call (925) 225-9100 extension 15.