Apple Cardranks highest in customer satisfaction among co-brand credit cards with no annual fee according to the J.D. Power 2023 U.S. Credit Card Satisfaction Study.
With a score of 655 (out of 1,000. This is the third consecutive year in which Apple Card and issuer Goldman Sachs have collectively won a segment award. The U.S. Credit Card Satisfaction Study, now in its 17th year, was redesigned for 2023.
It measures customer satisfaction with credit card issuers by examining seven factors (in alphabetical order): account management; benefits; customer service; new account; rewards earning; rewards redeeming; and terms. The study includes responses from 31,418 credit card customers and was fielded from August 2022 through June 2023.
Total U.S. credit card debt increased US$45 billion between April and June of this year and has now topped the $1 trillion mark, according to the New York Federal Reserve. For the nation’s credit card issuers that inauspicious milestone, combined with several other consumer behavioral trends, should be cause for concern, according to J.D. Power. The “2023 U.S. Credit Card Satisfaction Study” says that 51% of U.S. credit cardholders now carry revolving debt at an average overall self-reported interest rate of 14.8%.
Article provided with permission from AppleWorld.Today