According to the J.D. Power 2019 Credit Card Satisfaction Study, Navy Federal Credit Union (Navy Federal) achieves the highest overall score* in member satisfaction.
Measured on a 1,000-point scale, Navy Federal surpasses both the national issuers (806) and regional banks (802 average) with an 871-point score. It excels the competition across five categories in overall satisfaction, including credit card terms, communication, benefits and services, rewards, and key moments. Navy Federal is significantly above the industry average (and they scored above all competitors except in one category).
J.D. Power 2019 U.S. Credit Card Satisfaction StudySM
Customer satisfaction index rating - Regional Bank
(Based on a 1,000 point scale)^
Navy Federal members are confident in the knowledge of their credit card. The credit union far exceeds the industry average with a score of 860 vs. 774, due to the “clarity of information provided.” Their well-informed members are also impressed with their “competitive interest rate” and the “reasonableness of fees.”
^Navy Federal Credit Union is a financial services issuer that primarily serves U.S. military members, veterans and their families, and therefore is not rank-eligible in the study.
BENEFITS & SERVICES
Navy Federal members enjoy the benefits and services that accompany their credit card, placing the credit union above the industry average (822 vs. 747), major competitors (822 vs. 811), and the Best in Class (822 vs. 762). Key factors attributing to their satisfaction include the “attractiveness of their card’s benefits,” as well as the “range of benefits offered” and the “ease of using card benefits.”
According to the study, members are satisfied with their credit card rewards, as Navy Federal exceeds all issuers for Rewards Satisfaction. Navy Federal achieves a score of 856, surpassing the Regional Bank Average (803). Their member satisfaction is driven by their ease of redeeming awards, amount of rewards earned per dollar spent, and keeping members informed of their rewards benefits.
Members feel supported by Navy Federal during critical, high-stress moments, including handling of possible fraud, applying for and replacing a card, and general problem resolution. The credit union powered past the regional average with a score of 913 vs. 859. Navy Federal also surpassed the industry average in their member Interactions (902 vs. 850) with their online and mobile usage particularly strong.
ABOUT THE STUDY: The J.D. Power U.S. Credit Card Satisfaction Study, now in its 13th year, measures customer satisfaction with credit card issuers by examining six factors (in descending order of importance): interaction, credit card terms, communication, benefits and services, rewards, and key moments. The study includes responses from 28,236 credit card customers and was fielded from September 2018 through June 2019. This study also includes the Net Promoter Score (NPS), which measures customers’ likelihood to recommend their credit card issuer. For more information about the 2019 U.S. Credit Card Satisfaction Study, visit https://www.jdpower.com/business/resource/us-credit-card-satisfaction-study.
J.D. Power is a global leader in consumer insights, advisory services, and data and analytics. These capabilities enable J.D. Power to help its clients drive customer satisfaction, growth and profitability. Established in 1968, J.D. Power has offices serving North America, South America, Asia Pacific and Europe.
Source: J.D. Power 2019 U.S. Credit Card Satisfaction Study
The Special Power Report • Published by J.D. Power • Published November 2019 • © 2019 J.D. Power. All Rights Reserved. Reproduction of any material contained in this publication, including photocopying in whole or in part, is prohibited without the express written permission of J.D. Power. Advertising claims cannot be based on information published in The Special Power Report.
*Navy Federal Credit Union is a financial services issuer that primarily serves U.S. military members, veterans and their families, and therefore is not rank-eligible in the study
52% vs. 43%
BEST IN CLASSMembers are able to find benefits information easily.
78% vs. 75%
BEST IN CLASSRepresentatives have info ready and genuinely thank members for their business.
53% vs. 48%
BEST IN CLASSMembers completely understand credit card terms.
82% vs. 80%
BEST IN CLASSCardholder didn’t have to provide information more than once.
66% vs. 63%
BEST IN CLASSHas three or more benefits/ services with the card.