J.D. Power
[J.D. Power 2024 Credit Card Customer Satisfaction Survey (SM)] Satisfaction in the premium category has significantly improved ……
J.D. Power Japan Co., Ltd. (Headquarters: Minato-ku, Tokyo, President and CEO: Koji Yamamoto, abbreviated as J.D. Power), an international specialized organization for research and consulting related to CS (customer satisfaction), is a J.D. Power 2024 credit. The results of the Card Customer Satisfaction Survey (SM) have been announced. Significant improvement in satisfaction in the premium category
[Image 1: https://prtimes.jp/i/42677/302/resize/d42677-302-f33afff869606435572e-3.jpg&s3=42677-302-902df7e2dbb983b1715877fdded54cda-1790×1020.jpg] In this survey, the overall satisfaction level of proper cards issued by credit card companies is divided into four categories based on the services provided and the annual fee. Comparing the overall
satisfaction level by category with the previous year’s survey (announced in August 2023), the premium category had the largest improvement of +15 points, followed by the standard category with +5 points. On the other hand, the annual fee free category remained almost unchanged at -2 points, and the high status category received -6 points. In the premium category, where satisfaction level improved the most, factors such as “credit function,” “point program,” “member services/benefits,” and “annual membership fee” all improved by more than 10 points, and “point accumulation” factors improved by more than 10 points. It was confirmed that evaluation items such as “ease of use” and “sufficiency of campaign” contributed to improving
satisfaction. On the other hand, in the high-status category, where satisfaction level decreased the most, there was a decrease of about 10 points in the factors of “point program” and “services/benefits for members,” and factors such as “products and services that can be exchanged” and “satisfaction of campaigns.” A decline was confirmed in evaluation items such as ” and “sufficiency of ancillary services.” Both the Premium Division and High Status Division require relatively high annual membership fees of 10,000 yen or more, and are primarily aimed at card brands that provide a high level of service. In both categories, where a high level of balance is required between the annual fee paid and the level of service provided by the credit card company, the overall satisfaction level was very different. Touch payments contribute to increased satisfaction and loyalty; the number of credit cards and stores that accept touch payments is expanding. In addition to being able to make speedy payments, it is also a payment method that is increasingly used not only in Japan but also around the world due to its safety in terms of security and hygiene, and the convenience of being able to use it with wearable devices. In this year’s survey, when looking at satisfaction levels based on whether or not customers had experience using touch payments within the past year, it was confirmed that customers who used touch payments were more satisfied than those who did not. Looking at the difference in satisfaction by factor, the biggest difference is between “point programs” and “member services/benefits,” with some credit card companies increasing the point return rate by using touch payments, while others This is thought to be due to the fact that some companies are running campaigns targeting .
[Image 2: https://prtimes.jp/i/42677/302/resize/d42677-302-ee68185a8874717d9358-3.jpg&s3=42677-302-959987628fdf83a03936e8a710875205-1688×1066.jpg] The difference in satisfaction between touch payment users and non-users is larger for younger customers, and in addition, customers who use credit cards more frequently have higher satisfaction levels. Additionally, customers who use touch payments have higher levels of loyalty, such as the intention to continue using their primary card, the intention to increase the amount, and the intention to recommend it (total of “I agree” and “Somewhat agree”) compared to customers who do not use it. This was also confirmed. Some credit cards still do not support touch payments, and there are many stores and terminals where it cannot be used for payments, so it is still only halfway through its widespread use. However, in terms of contributing to improving satisfaction among young people and frequent users, it can be said to be a highly important point in a strategy that emphasizes customer lifetime value. The rapid spread of touch payments and improved convenience are expected to be important issues for the credit card industry in the future. Kiichi Umezawa, Managing Executive Officer, Global Business Intelligence Division, J.D. Power, commented, “In this year’s survey, overall satisfaction levels varied by department, and no clear increase was observed in monthly payments. Specifically, the monthly payment increased by only 6,300 yen, an increase of 9% compared to the previous year.This is because, although there is a recovery in travel demand due to the end of the coronavirus, real wages are in negative territory due to rising prices. Amid this trend, it is thought that credit card users remain strongly conscious of restraining their spending, although some predict that real wages will trend upward in the future, leading to an increase in payments. In order to achieve this, one idea would be to strengthen incentives such as expanding member services, benefits, and point programs.” J.D. Power announces No. 1 credit card customer satisfaction ranking in 2024 The overall satisfaction ranking is as follows. . [Premium Category] (Targeted 3 brands) 1st place: American Express (683 points) Highest rating in 4 factors: “Credit function”, “Point program”, “Member services/benefits”, and “Procedures/support”. 2nd place: JCB Card (677 points) Highest rating in the “annual fee” factor. 3rd place: Diners Club Card (648 points)
[Image 3: https://prtimes.jp/i/42677/302/resize/d42677-302-c0041df4ec33d670ea76-3.jpg&s3=42677-302-7fb5bc43aa838b02af0cc2791dd9d275-720×960.jpg] [High status category] (9 brands) 1st place: Epos Card (671 points) Ranked 1st in overall satisfaction for 3 consecutive years. 2nd Place: PayPay Card (666 points) Highest rating in two factors: “Point Program” and “Member Services/Benefits”. 3rd place: Sumitomo Mitsui Card (664 points) Highest rating in the “Credit function” factor.
[Image 4: https://prtimes.jp/i/42677/302/resize/d42677-302-9e1fa5b29a7bb7993374-3.jpg&s3=42677-302-b9d5aa3ba236e450ac0dad0d500252e4-720×960.jpg] [Standard category] (11 brands) 1st place: Epos Card (697 points) Ranked 1st in overall satisfaction for 7 consecutive years. Highest rating in the “annual fee” factor. 2nd place: Rakuten Card (675 points) Highest rating in 3 factors: “Credit function”, “Point program”, and “Member services/benefits”. 3rd place: Sumitomo Mitsui Card (647 points)
[Image 5: https://prtimes.jp/i/42677/302/resize/d42677-302-e550885fba2ae23be13b-3.jpg&s3=42677-302-5e670659190c5381982783bd25267a09-720×960.jpg] [Annual Fee Free Category] (10 Target Brands) 1st place: JCB Card (691 points) 1st place in overall satisfaction for 2 consecutive years. Highest rating for two factors: “Credit function” and “Member services/benefits.” 2nd Place: Rakuten Card (681 points) Highly rated in two factors: “Points Program” and “Procedures/Support.” 3rd place: Sumitomo Mitsui Card (672 points)
[Image 6: https://prtimes.jp/i/42677/302/resize/d42677-302-4a36d2e7e9a91c94e38b-3.jpg&s3=42677-302-d38c16d5ec1b4bad6a0deefce7480bcd-720×960.jpg] 《J.D. Power 2024 Credit Card Customer Satisfaction Survey (SM) Overview》 Once a year, among the personal credit cards issued in Japan, main members (nationwide) who hold a proper card issued by a credit card company are A survey targeting people aged 20 to 69 to find out their level of satisfaction with their experience using the service over the past year. This is the seventh time this event has been held. If a respondent owns multiple cards, they are asked to evaluate the one card that they consider to be their main card. The definition and name of each department are as follows. ◇Premium category: Cards with an annual fee of 20,000 yen or more and from an international brand provider ◇High status category: Cards with an annual fee of 10,000 yen or more other than the premium category ◇Standard category: Cards with an annual fee of less than 10,000 yen ◇No annual fee Category: Card with no annual fee ■Implementation period: Mid-to-late May 2024
■Survey method: Internet survey ■Survey target: People who own a proper card issued by a credit card company (principal members aged 20 to 69. *Excluding family cards and corporate cards) ■Number of survey respondents: 7,610 people overall We set factors that influence customer satisfaction, and calculated an overall satisfaction score out of 1,000 points based on user evaluations of detailed evaluation items for each factor. The factors that make up overall satisfaction are as follows in descending order of influence on overall
satisfaction (degree of influence is in parentheses). [Premium/High Status Category]: “Credit function” (32%), “Point program” (26%), “Member services/benefits” (21%), “Procedures/Support” (11%), “2019 Membership fee” (9%) [Standard section]: “Credit function” (30%), “Point program” (30%), “Member services/benefits” (19%), “Annual membership fee” (13%), “Procedures/Support” (8%) [Annual fee free category]: “Credit function” (39%), “Point program” (34%), “Member services/benefits” (19%), “Procedures/Support” (8%) *All surveys for which J.D. Power publishes results are independently designed and conducted by J.D. Power as a third-party organization. [Please note] This paper is for press purposes only. It is prohibited to use the information or results published in this material for advertising or promotional activities without our permission. About J.D. Power: Headquartered in the United States, J.D. Power is an international marketing research company in consumer insights, advisory services, data and analytics. We have pioneered the use of big data, artificial intelligence (AI), and algorithmic modeling capabilities to capture consumer behavior and provide incisive industry intelligence about consumers. For more than half a century, J.D. Power has been engaged with customers, brands and products, and is trusted by the world’s leading companies in major industries to guide their customer-facing strategies. J.D. Power has offices in North America, Europe, and Asia Pacific. For more information about our business, please visit https://japan.jdpower.com/ja.