Reply
Super Contributor
Posts: 9,182
Registered: ‎04-22-2013
0

J D Powers Credit Card Survey

 

http://money.cnn.com/2013/08/22/pf/credit-cards-amex/index.html

 

Survey just came out, ranking on interactions with their credit card issuer, the rewards, benefits, billing and payment options and problem resolution.

 

1. American Express

2. Discover

3. Chase

4. Barclaycard

5. U.S. Bank

6. Wells Fargo

7. Capital One

8. Bank of America

9. GE Capital Retail Bank

10. Citi

11. HSBC

Valued Contributor
Posts: 7,075
Registered: ‎10-21-2012
0

Re: J D Powers Credit Card Survey


longtimelurker wrote:

 

http://money.cnn.com/2013/08/22/pf/credit-cards-amex/index.html

 

Survey just came out, ranking on interactions with their credit card issuer, the rewards, benefits, billing and payment options and problem resolution.

 

1. American Express

2. Discover

3. Chase

4. Barclaycard

5. U.S. Bank

6. Wells Fargo

7. Capital One

8. Bank of America

9. GE Capital Retail Bank

10. Citi

11. HSBC


Thanks for sharing longtimelurker!

 

Yup looks like AMEX took the #1 spot and Discover & Chase are in the top 5 as expected. 

Super Contributor
Posts: 9,182
Registered: ‎04-22-2013
0

Re: J D Powers Credit Card Survey

And Cap One beats BoA and Citi....

Valued Contributor
Posts: 7,075
Registered: ‎10-21-2012
0

Re: J D Powers Credit Card Survey


longtimelurker wrote:

And Cap One beats BoA and Citi....


That I found interesting.  Over time, it seems like Capital One's products have been evolving and some improvements have been eveidenced with their overall customer experience focus.  I was thinking BofA would have ranked higher than Capital One but looks like that's not the case according to the recent results.  Citi, well, it's Citi what can we say.

Super Contributor
Posts: 9,182
Registered: ‎04-22-2013
0

Re: J D Powers Credit Card Survey

The comments in that article are also interesting, including things like:

 

No. Closing any revolving credit line will always negatively impact your credit score.

 


responded to with:

 

Not necessarily, if you close a newer card, then your average age of accounts improves, and scores can go up. Only closing older cards in good standing will have a negative effect.

 

 


Good wrong information!

Valued Contributor
Posts: 7,075
Registered: ‎10-21-2012
0

Re: J D Powers Credit Card Survey


longtimelurker wrote:

The comments in that article are also interesting, including things like:

 

No. Closing any revolving credit line will always negatively impact your credit score.

 


responded to with:

 

Not necessarily, if you close a newer card, then your average age of accounts improves, and scores can go up. Only closing older cards in good standing will have a negative effect.

 

 


Good wrong information!


LOL... The blind leading the blind at best!

Established Contributor
Posts: 648
Registered: ‎03-07-2013
0

Re: J D Powers Credit Card Survey


longtimelurker wrote:

The comments in that article are also interesting, including things like:

 

No. Closing any revolving credit line will always negatively impact your credit score.

 


responded to with:

 

Not necessarily, if you close a newer card, then your average age of accounts improves, and scores can go up. Only closing older cards in good standing will have a negative effect.

 

 


Good wrong information!


but doesnt closing newer accts make AAOA go up making it a partcially true statement.

Current Credit Cards
| PayPal MC: $10K | WalMart MC: $7.5K | Discover IT: $6.5K | USB Platinum: $5K | Sams MC: $5K |
| CapitalOne QS: $1.3K | AmEx TrueEarnings: $1.2K | AFCU Rewards: $1K | USB Select: $1K |

Goal Credit Cards
CapitalOne QuickSilver, Discover IT, Sam's MasterCard
AmEx EveryDay, US Bank Cash+
Last Application: 10/3/2014
Valued Contributor
Posts: 7,075
Registered: ‎10-21-2012
0

Re: J D Powers Credit Card Survey


shaun2009 wrote:

longtimelurker wrote:

The comments in that article are also interesting, including things like:

 

No. Closing any revolving credit line will always negatively impact your credit score.

 


responded to with:

 

Not necessarily, if you close a newer card, then your average age of accounts improves, and scores can go up. Only closing older cards in good standing will have a negative effect.

 

 


Good wrong information!


but doesnt closing newer accts make AAOA go up making it a partcially true statement.


Closing a new account does not improve AAoA.  One already takes the AAoA hit for adding the new TL to the rest of the mix whether you close it or not.  The only impact (if any) would be utilization, again depending on the TL.

Established Contributor
Posts: 648
Registered: ‎03-07-2013
0

Re: J D Powers Credit Card Survey


FinStar wrote:

shaun2009 wrote:

longtimelurker wrote:

The comments in that article are also interesting, including things like:

 

No. Closing any revolving credit line will always negatively impact your credit score.

 


responded to with:

 

Not necessarily, if you close a newer card, then your average age of accounts improves, and scores can go up. Only closing older cards in good standing will have a negative effect.

 

 


Good wrong information!


but doesnt closing newer accts make AAOA go up making it a partcially true statement.


Closing a new account does not improve AAoA.  One already takes the AAoA hit for adding the new TL to the rest of the mix whether you close it or not.  The only impact (if any) would be utilization, again depending on the TL.


Thanks for clarifying i read that on here some were and always thought that it did well glad i didnt close any of my new accts ...thinking about that.

Current Credit Cards
| PayPal MC: $10K | WalMart MC: $7.5K | Discover IT: $6.5K | USB Platinum: $5K | Sams MC: $5K |
| CapitalOne QS: $1.3K | AmEx TrueEarnings: $1.2K | AFCU Rewards: $1K | USB Select: $1K |

Goal Credit Cards
CapitalOne QuickSilver, Discover IT, Sam's MasterCard
AmEx EveryDay, US Bank Cash+
Last Application: 10/3/2014
Valued Contributor
Posts: 7,075
Registered: ‎10-21-2012
0

Re: J D Powers Credit Card Survey


shaun2009 wrote:

FinStar wrote:

shaun2009 wrote:

longtimelurker wrote:

The comments in that article are also interesting, including things like:

 

No. Closing any revolving credit line will always negatively impact your credit score.

 


responded to with:

 

Not necessarily, if you close a newer card, then your average age of accounts improves, and scores can go up. Only closing older cards in good standing will have a negative effect.

 

 


Good wrong information!


but doesnt closing newer accts make AAOA go up making it a partcially true statement.


Closing a new account does not improve AAoA.  One already takes the AAoA hit for adding the new TL to the rest of the mix whether you close it or not.  The only impact (if any) would be utilization, again depending on the TL.


Thanks for clarifying i read that on here some were and always thought that it did well glad i didnt close any of my new accts ...thinking about that.


Plus, if you already took the HP to get approved coupled with the shortened AAoA, why just not use it, at least for 12-24 months (or longer) and determine whether it's something well-worth keeping in the end.  And, if there's no annual fee, it doesn't hurt your mix of other TLs.  The thicker and longer established the CR file is, the less impact on AAoA... the thinner and less established, then the bigger the impact.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.