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Study shows more positive view of credit card industry

August 25, 2012

According to one recent report, customers are more satisfied with credit card providers for both business and consumer transactions.

According to one recent report, customers are more satisfied with credit card providers for both business and consumer transactions.

The J.D. Power and Associates 2012 U.S. Credit Card Satisfaction Study found that on a 1,000 point scale, customers gave companies that often deal with merchant services  a score of 753. That number is higher than last year’s, when it totaled 731, and in 2010, when firms were rated 714.

According to J.D. Power and Associates senior director of banking services Jim Miller, card members were pleased with fees and feel more comfortable than before.

“There has not been a lot of change in the past year in fees, credit limits and card terms—the things that often affect customers in a negative way,” said Jim Miller, senior director of banking services at J.D. Power and Associates.  “After a series of dramatic changes, credit card customers are enjoying a time of stability.”

One of the reasons for the improved sentiment could have to do with rewards programs being offered.  One newly introduced program is the Starwood Preferred Guest from American Express, which allows people to save money on hotels around the world.

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