The key factors are the card's rewards programme, cashback, and discounts and promotion.
American Express ranks highest in credit card satisfaction with an overall score of 781 and performs well across five of six factors, whilst Standard Chartered ranks second with a score of 748, and DBS ranks third with a score of 737, J.D. Power's 2017 Singapore Credit Card Satisfaction Study reveals.
The study examines customer satisfaction with the products and services provided by their main financial institution. It measures overall satisfaction in six key factors (in order of importance): interaction (37%), billing and payment (19%), credit card terms (13%), benefits and services (13%), rewards (13%), and problem resolution (4%).
The study is based on responses from 2,903 credit card customers in Singapore. Coverage includes 11 major credit card issuers in the market, nine of which are rank-eligible, with satisfaction scores based on the customer’s primary card used.
Some key findings also showed that credit card still remains as the most popular payment mode for Singapore customers when paying for purchases in stores/restaurants and online payments. It also revealed that the key features that cardholders look for in selecting their primary card are rewards programme (37%), cashback (50%), and discounts and promotion (33%).
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