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USAA Earns Top Customer Experience Rating for Credit Card Issuers, According to Temkin Group

Fourth Annual Temkin Experience Ratings Evaluates 268 Companies Across 19 Industries

WABAN, Mass., March 24, 2014 /PRNewswire/ -- USAA delivers the best customer experience in the credit card industry, according to the 2014 Temkin Experience Ratings, an annual ranking of companies based on a study of 10,000 U.S. consumers.

USAA continued its four-year reign as the highest-rated credit card issuer, earning a 77% rating and placing 33rd out of 268 companies across 19 industries. Discover and American Express tied for second with a 71% rating each and a rank of 83rd overall. At the other end of the spectrum, HSBC spent its first year in the Temkin Experience Ratings as the lowest ranked of the 11 credit card issuers, landing in 254th place overall with a 51% rating.

"The credit card industry as a whole has made great strides in improving their customer experience, and USAA continues to set the standard for the industry," states Bruce Temkin, managing partner of Temkin Group.

Here are some additional findings from the credit card industry:

  • The ratings of all credit card issuers in the 2014 Temkin Experience Ratings are as follows: USAA (77%), Discover (71%), American Express (71%), Capital One (69%), US Bank (68%), Chase (68%), Wells Fargo (68%), Barclaycard (68%), Citigroup (66%), Bank of America (64%), and HSBC (51%).
  • Capital One (+10 points), USAA (+7 points), Wells Fargo (+5 points), and Citigroup (+5 points) improved the most between 2013 and 2014.
  • No credit card issuer decreased their ratings between 2013 and 2014; all 11 companies either improved their scores or were not surveyed last year.
  • Overall, the credit card industry averaged a 68% rating in the 2014 Temkin Experience Ratings and tied for 6th place out of 19 industries. Of the 15 industries that improved their ratings since last year, credit card issuers improved the most with a 4.1 percentage-point gain.

Now in its fourth year of publication, the 2014 Temkin Experience Ratings examines the quality of the customer experience delivered by 268 organizations across 19 industries: airlines, appliance makers, auto dealers, banks, car rental agencies, computer makers, credit card issuers, fast food chains, grocery chains, health plans, hotel chains, insurance carriers, Internet service providers, investment firms, parcel delivery services, retailers, software firms, TV service providers, and wireless carriers.

To generate these ratings, Temkin Group asked consumers to evaluate their experiences with a company across three dimensions: functional (can you do what you want to do?), accessible (how easy is it to work with the company?), and emotional (how do you feel about the interactions?). Temkin Group then averaged these three scores to produce a 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."

The 2014 Temkin Experience Ratings, along with other ratings, can be accessed at the Temkin Ratings website, www.TemkinRatings.com.

The free report "2014 Temkin Experience Ratings" is available for download at the Customer Experience Matters® blog (ExperienceMatters.wordpress.com) and at the Temkin Group website, www.TemkinGroup.com.

About Temkin Group: Temkin Group is widely recognized as a leading customer experience research and consulting 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 four critical 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.

*Customer experience matters is a registered trademark of Temkin Group.

Read more news from Temkin Group.

SOURCE Temkin Group

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