Discover Earns Top Customer Experience Rating for Credit Cards, According to Temkin Group
Seventh Annual Temkin Experience Ratings Evaluates 331 Companies Across 20 Industries
WABAN, Mass., March, 22 2017 /PRNewswire/ -- Discover delivers the best customer experience in the credit card industry, according to the 2017 Temkin Experience Ratings, an annual customer experience ranking of companies based on a survey of 10,000 U.S. consumers.
Discover took the top spot out of the 11 credit card issuers included in this year's ratings, earning a score of 78% and coming in 28th place overall out of 331 companies across 20 industries. American Express and USAA tied for second place, each receiving a score of 73% and ranking 90th overall.
The ratings of all credit card issuers in the 2017 Temkin Experience Ratings are as follows:
- Discover: 78%
- American Express: 73%
- USAA: 73%
- Barclaycard: 72%
- U.S. Bank: 71%
- Chase: 70%
- HSBC: 69%
- Citigroup: 68%
- Bank of America: 67%
- Capital One: 66%
- Wells Fargo: 64%
"Quite a few credit card issuers saw double-digit increases from last year, bringing up the average quality of customer experience in this industry," states Bruce Temkin, managing partner of Temkin Group.
Overall, the credit card industry averaged a 70% rating in the 2017 Temkin Experience Ratings and tied for 6th place out of 20 industries. The average rating of the industry improved by seven percentage-points between 2016 and 2017, going from 62.8% to 69.7%.
The ratings for all credit card issuers increased between 2016 and 2017, except for Capital One, whose score stayed the same. HSBC improved the most, gaining 23 points in the last year.
Now in its seventh year of publication, the 2017 Temkin Experience Ratings is the most comprehensive benchmark of customer experience in the industry, evaluating 331 companies across 20 industries: airlines, auto dealers, banks, computer & tablet makers, credit card issuers, fast food chains, health plans, hotels & rooms, insurance carriers, investment firms, parcel delivery services, rental cars & transport, retailers, software firms, streaming media, supermarket chains, TV & appliance makers, TV/Internet service providers, utilities, and wireless carriers.
To generate these ratings, Temkin Group asked 10,000 U.S. consumers to evaluate their recent experiences with a company across three dimensions: success (can you do what you want to do?), effort (how easy is it to work with the company?), and emotion (how do you feel about the interactions?). Temkin Group then averaged these three scores to produce each company's Temkin Experience Rating.
In these ratings, a score of 70% or above is considered "good," and a score of 80% or above is considered "excellent," while a score below 60% is considered "poor."
The 2017 Temkin Experience Ratings, along with other ratings, can be accessed at the Temkin Ratings website, www.TemkinRatings.com.
The free report, "2017 Temkin Experience Ratings," is available for download at the Customer Experience Matters® blog (ExperienceMatters.blog) and at the Temkin Group website, www.TemkinGroup.com.
About Temkin Group: Temkin Group is a leading customer experience research, consulting, and training firm. Many of the world's largest brands rely on its insights and advice to steer their transformational journeys, and Temkin Group accelerates their results by combining customer experience thought leadership with a deep understanding of organizational dynamics. Rather than layering on cosmetic changes, Temkin Group helps companies embed practices within their culture by building up four core competencies: Purposeful Leadership, Employee Engagement, Compelling Brand Values, and Customer Connectedness. The firm's ongoing research identifies leading and emerging best practices for engaging the hearts and minds of customers, employees, and partners. For more information, contact Bruce Temkin at 617-916-2075 or send an email to [email protected].
*Customer Experience Matters is a registered trademark of Temkin Group.
SOURCE Temkin Group
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