Credit Card Deals Providers Continue to Compete

A customer's buying decision is the result of a complicated mental work aimed at sorting out benefits and drawbacks of the deal and estimating the rate of ultimate satisfaction. A credit card is just like other products you buy, and your buying decision depends on how well the issuer advertised the plastic and what boons it actually has to offer.

As the market law requires, the participants must compete with each other not only to survive but also to draw funds for prosperity, and credit companies seem to be well armed warriors in their fight for customers. According to the results of 2007 Credit Card Satisfaction Study, American Express appears to be the strongest player and its credit card deals are of great demand among customers.

American Express occupies the leading position among the other 10 US credit card issuers and the company's recognition is not likely to fade in the nearest future. It is an interesting thing taken that years ago American Express credit card deals were usually turned down by young people with little credit history or those short of funds to keep these expensive credit cards.

It is true, Amex credit cards were initially intended for well provided customers who could afford paying enormous annual fees and spend great limits every month. But, do you think there are really many customers able or willing to comply with such requirements? Not many, and, as soon as American Express officials got at the fact, they offered new credit card deals that have presumably provided for the present-day popularity of the company.

The biggest credit card companies in the USA compete with each other based on the key factors meant to bring customer satisfaction. They are

• Benefits and features;
• Rewards;
• Billing and payment process;
• Fees and rates;
• Security and problem resolution.

American Express has defeated all the others with their benefits and features as well as security measures. But, being aware that credit card rewards are also the key factor in a credit card issuer selection, the company ventured to stake on airline miles reward program so much appreciated not only among businesses but common consumers as well.

They didn't miscalculate. And though the level of customer satisfaction with cash back or hotel rewards cards is generally higher, there are much more customers striving for airline miles points in particular. American Express is wise to extend its customer base offering this kind of rewards.

A no less significant weapon against its credit card rivals is the ability to provide a high-quality control over all processing and transaction phases. Though security and problem resolution issues are not that significant factors for customer satisfaction yet, American Express keep an eye open for them, seeing ID and credit card fraud will soon occupy the minds of many.

Well, what about other credit card issuers? According to the study, Discover company is very close to American Express, making its customer base primarily by the rewards program and billing and payment process.

All in all, the study shows that American Express and Discover demonstrate a slightly higher level of customer satisfaction than Visa and MasterCard, though the latter are so much valued for their everywhere, every time acceptance.

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