Customers rate American Express No. 1 in the J.D. Power 2022 U.S. Credit Card Satisfaction Study of National Issuers

Photo: Courtesy of American Express

For the third year in a row, customers rated American Express first among national credit card issuers in the J.D. Power 2022 U.S. Credit Card Satisfaction Study. The company achieved its highest overall score, 848 points on a 1,000-point scale, exceeding the segment average by 34 points and landing the top spot for the 12^th time[i]in the 16 years since the survey has been fielded.

American Express ranked first in four of the six factors that J.D. Power asked survey participants to consider: credit card terms, communication, benefits and services, and rewards. The company also scored particularly well in key moments and channel interaction.

"It's our company vision to provide the world's best customer experience every day. We have hundreds of millions of interactions with customers, and we want to make sure in every one of those interactions they feel they are part of the American Express family," says Denise Pickett, President of the Global Services Group. "Our membership model is a special relationship with our customers. People start so many conversations with us saying, 'I've been a member since…' We need to bring that membership to life at every touchpoint."

The J.D. Power Credit Card Satisfaction Study is the most comprehensive, independent survey of credit cardholders available and was created in order to help consumers and card issuers understand and act upon the satisfaction ratings. It is one of several financial services-related studies conducted by J.D. Power in which American Express participates.

Earlier this year American Express ranked highest in overall satisfaction among savings providers in the J.D. Power 2022 U.S. Direct Banking Study, and last November, the company tied for first place in the J.D. Power 2021 U.S. Small Business Credit Card study.

Pickett, in an interview below, describes how American Express is always working to exceed customer expectations.

Question: What steps has Amex taken to ensure we're meeting customers' needs?

Pickett: We have a full range of customers, and that means they have a full range of needs. Those needs change every day, and we are committed to investing in our products, benefits, capabilities, and service to best anticipate their needs. Over the past two years when there was such uncertainty, we could have pulled back, but instead we learned from customer feedback and invested in our products to continue to back our customers.

Our U.S. Platinum Card is a great example of how we continue to innovate. We've evolved that product into a true lifestyle product, expanding the benefits and features its known for but also exploring new areas like streaming entertainment services.

Question: Customer satisfaction can mean different things to different customers. How would you describe a 'satisfied' customer?

Pickett: What matters to us is how the customer describes 'satisfied,' and that means looking at their overall experience with American Express and how we make them feel. Customers are making judgments about their satisfaction based on the totality of their interactions with us. They may love a particular card feature or benefit, but if they have a less than stellar servicing interaction, it can impact their overall feeling toward our brand. We have to protect that relationship and look at the customer journey from the beginning to the end. For the customer, it's about the whole experience.

Question: Can you describe our customer service philosophy?

Pickett: We put the customer first, and we have three simple tenets that we strive to achieve in every servicing interaction. This is important whether it's in our high-touch or high-tech channels. First, make it easy. We want to make doing business with us, and interacting with American Express, easy regardless of the channel.

Next, we strive to recognize our customers' needs and understand their history with us, so that we can be more proactive. We want to be aware of what has worked for a customer in the past to get them to a resolution, and we also want to recognize when there is an opportunity to improve.

The last step is that we aim to solve a customer need in their channel of choice the very first time they contact us, so they don't have to call again with the same need.

Question: How does #TeamAmex play a role in providing the world's best customer experience while also delivering the best experience to our colleagues?

Pickett: Everything we do for our customers starts with our global team of colleagues. No matter what your job is at our company, a passion to serve is the foundation for the work we do. Maybe the line between one job is a little longer to reach the customer as compared to our front-line teams, but there's always a line to our customers and we all take pride in that. We do things because they are the right things to do, and we want that sense of commitment to reach our customers in all of their interactions with us.

It's also why we are so focused on providing a great colleague experience. When our colleagues feel supported, it empowers them to deliver that powerful backing to our customers.

[1]American Express ranked No. 1 in 2007, 2008, 2009, 2010, 2011, 2012, 2013, 2014 (tie), 2017, 2020, 2021, and 2022.

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