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Financial Ministry

Credit Card Satisfaction


In August 2013, J.D. Power released their annual U.S. Credit Card Satisfaction Study. The top ranked credit card for customer satisfaction was not Visa or MasterCard. It was American Express. The second ranked card was Discover. Followed by Visa at a distant third.

Contrary to the commercial, life does not take Visa. In fact, your life should not take plastic, unless you know how to handle your credit cards. The key is to never carry a balance on your card. Pay your credit card off completely each month and do not charge more than you can pay off each month. Don’t use plastic to subsidize your lifestyle. Live below your means, but make sure you cover your needs.

Never ever get a card that charges you an annual fee for the privilege of carrying their card. American Express had the Optima card that did not have a fee and earned rewards. Unfortunately, in 2009, AmEx stopped accepting applications for this card. Be sure you understand the fees and rewards associated with any credit card before you apply for one. As I said before a card with an annual fee does not make sense, no matter what the rewards.



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