The most reputable credit card companies out there are amongst the top credit card issuers in terms of size, popularity, and ratings. They top all three areas. They are American Express, Chase and, to a lesser extent, Citibank. In fact, American Express is the best in terms of customer satisfaction and the leader in purchase volume. Paired with very strong financial ratings, this makes American Express the most reputable credit card company on the market today.
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There are other credit cards, like CapitalOne and Bank of America, which have a significant market share of cardholders. They are however a little less reputable. These two companies round out the top five for the number of cardholders they have, yet both have less than rosy outlooks for the future from independent ratings firms. In addition, cardholder surveys show that users are not as satisfied with them, as they should be.
Financial Ratings for the Most Reputable Credit Card Companies
By checking independent financial ratings firms, like Moody’s and Standard and Poor’s, you will be able to learn the actual financial ratings for each of the most reputable credit card companies out there. Realistically this is a very intelligent step to take before getting a new credit card. You want to know if the company you are dealing with is financially sound and will be around in the future.
All three companies that we have listed as the most reputable credit card companies have A ratings. This means that they are financially stable and have a positive outlook for the future. You can feel confident choosing American Express, Chase or Citibank cards for your next credit card.
What Users Say About the Most Reputable Credit Card Companies
Studies, done by J. D. Power and Associates, reveal a lot about credit card companies. In the 2011 credit card satisfaction study, the following was reported:
- American Express received “Among the Best” rankings for problem resolution; customer interaction; billing and payment; benefits; rewards; credit card terms; and overall satisfaction.
- Chase received “Better Than Most” rankings for rewards and problem resolution. It received “About Average” for customer interaction; billing and payment; benefits; credit card terms; and overall satisfaction.
- Citi Cards did not fare as well amongst actual users. They got “About Average” for problem resolution, credit card terms, and benefits. They were classified as “The Rest,” which is the lowest ranking, for overall satisfaction; rewards; billing and payment; and customer interaction.
There is also some other less popular credit cards that have very good credit card satisfaction according to users, like the Discover credit card. However this company does not have an A rating according to independent financial ratings companies. The outlook for the issuer is not positive. Because of these things, it is not a top choice for one of the most reputable credit card companies.
How to Get a Credit Card from One of the Most Reputable Credit Card Companies
If you want to make sure you have a good chance of being accepted by one of the most reputable credit card companies, it is very important to have a good credit score. Your credit score is made up of a variety of information, but most importantly, it is based on data on how you handle debt. Paying off credit cards every month, late payments, bankruptcies, foreclosures, charge offs, overuse of credit and more all impact this important score.
Check out how your score looks by getting a copy of your credit score from the three credit bureaus. Examine each for errors. If there are any errors, report them immediately to get them off your report. If your score still looks less than ideal, commit to cleaning up your credit report by making timely payments and reducing your credit card debt ratio.
Determining which credit cards are most reputable is a very subjective process. Companies that look great financially may not always excel at customer service and vice versa. Carefully checking out firms before selecting your next credit card is definitely the way to go.
To compare credit cards, look no further than the FREE credit card finder above to help you find the best card!
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