Discover is the best credit card company in the U.S., according to J.D. Power's annual Credit Card Satisfaction Survey.
American Express, which tied Discover for the top spot last year and topped the rankings the other 7 years J.D. Power has conducted its survey, came in 2nd. JPMorgan Chase came in third.
Why should you care?
Ultimately, the right credit card for you comes down to what you intend to use it for. But the rankings are helpful in determining how each of the major issuers rate when stacked against each other. Take a look:
The rest of the story
J.D. Power rates major credit card issuers by 6 factors (listed here in order of importance): interaction, credit card terms, billing and payment, rewards, benefits and services and problem resolution.
Discover scored 828 points on a 1,000-point scale, netting high marks across all 6 categories. Its performance shouldn't really come as a surprise, given the issuer made several consumer-friendly changes over the last year.
In November, Discover eliminated rewards expiration dates. In June, it debuted a double rewards bonus offer geared toward new cardholders, and it also launched Freeze It, a security feature that enables cardholders to turn a card "on" and "off" if they misplace it.
Getting the best cards
Overall satisfaction with issuers is at a record high of 790, surpassing the previous high of 778 in the 2014 study.
J.D. Power found rewards and benefits are the 2 main reasons customers choose a credit card. They're also key drivers of satisfaction and spending on a primary card, though past Bankrate research suggests these points aren't as sticky as one may think.
In any event, premium credit cards, which feature the best benefits, are reserved for consumers with stellar credit, so if J.D. Power's survey has you thinking about applying for some new plastic, it may be a good idea to see where your credit score stands.
Check your credit report for free at myBankrate. If you need a bit of boost, check for errors and pay down any high credit card balances before applying. This Bankrate quiz can help you determine what type of credit card is right for you.
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