Comments (scroll down to add your own):

1. I’m suprised that American express is at the top of the list. Over the past year they’ve cancelledthousands of peoples accounts when balances were paid. Including mine! All with bogus reasons. I personally have no respect for them and don’t ever plan on going back.

   Comment by Angie — Sep 14th 2009 @ 7:25 am

2. I always considered American Express to be one of the more upstanding players in the credit card business.

   If I’m in a transaction where things go the wrong way, I’d want Amex to be my card. They take the customers position by default.

   A few years back we had a situation with a travel scheme that wasn’t on the up and up and Amex got the money back for us. That has to breed loyalty!

   Also, the add on services they offer have proven to be top notch.

   Comment by Kevin@OutOfYourRut — Sep 14th 2009 @ 12:41 pm

3. JD power didn’t poll me, because I’m happy with my credit cards. Then again, I don’t worry about the rates and fees, since I pay the bills off every month. JD Power should take a poll on how idiotic people were with their credit cards and spending behavior. It’s easy to blame cc companies and say fees and rates are high etc., but don’t spend beyond your means and pay off your bills in full by the due date and you don’t have to worry about them. perhaps jd power should have broken up the poll between those who pay in full every month and those who carry balances or max out their credit cards or over extend their credit lines. and if your are not satisfied with them, then don’t use or get them.

   Comment by Tim — Sep 14th 2009 @ 9:33 pm

4. AmEx caters to higher income customers that have high credit scores. Since this clientèle are more likely to pay their bills off every month and use cards responsibly, I’m not surprised that they have higher customer satisfaction. People that carry balances and have poor credit (not the typical AmEx customer) are the ones more likely to whine about their credit card company, thus resulting in lower customer satisfaction scores.

   Comment by Greg — Sep 15th 2009 @ 2:21 pm

5. The reason for my disatisfaction was the sudden HIKE in my Citibank Home Rebate Card interest rate from 7% to 14% despite Fed Funds and treasury yields falling to all time lows. I’ve never missed a payment either. It bothers me greatly.

   Comment by Financial Samurai — Sep 15th 2009 @ 5:09 pm

6. I’m in agreement with Angie and Kevin. I have both an Amex and a Discover card in my wallet, but I really only use the Amex. Aside from the points, I am particular to this card because in the past they have been of great assistance in some disputes as well as their willingness to keep me happy in order for me to remain a cardholder when I have made certain requests.

   I am also surprised that American Express has been rated #1 for the same reason that Angie mentioned. I personally know of people who have had their credit lines slashed (some even as much as 90%+) and have been disgusted that they were treated in such a manner. It’s simply a business decision in my eyes, where the company is reducing credit lines to avoid holding the bag on defaults. This action simply reduces their risk exposure, which is a smart move for any business. I don’t, however agree that all of the cancellations and roll-backs were bogus. In fact, they have every right to decide who they will extend credit to and who they will not. Credit is a privilege, not a right.

   In response to Greg’s point, I’m not so sure that I agree (at least not any more). It used to be that American Express was the “luxury” credit card back a decade or more ago when they only issued the green and gold charge cards. But now, they have branded credit cards, the blue line, etc which are all much different than the old style charge cards. These days, you don’t need to have a 6-figure income and pay a membership fee to carry round an Amex card in your wallet.

   Comment by Eric J. Nisall — Sep 19th 2009 @ 1:53 pm

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