In the annals of things that are completely unsurprising comes a survey from J.D. Power and Associates finding that U.S. customers are less satisfied with their credit cards than they were a year ago. As you probably know, many struggling financial companies have raised interest rates on their credit cards, looking for some way to earn some profits.
Because of that, 20 percent of credit-card users saw their interest rate increase in the past year, while in the survey from a year earlier only 10 percent did. More customers reported having to make late-payment fees, which makes sense given how many people are out of work.
J.D. Power does a lot of surveys like these that are very interesting, but sometimes they just make themselves look foolish by stepping beyond that. For instance, in this report, J.D. Power adds, "Credit-card issuers' best weapon against deteriorating satisfaction is to clearly communicate any changes to customers ahead of time." Perhaps neither the credit-card companies nor J.D. Power has considered this, but their best weapon against lowered satisfaction would be satisfying their customers by reducing those inflated fees.
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