Small business credit card customer satisfaction surged 12 points from last year (rising to 852 on a 1,000-point scale) as 32% of small business customers say they are financially better off than they were a year ago, according to a new survey by J.D. Power.
The U.S. Small Business Credit Card Satisfaction survey found that the rise was due in part to a combination of improved overall economic outlook, competitive interest rates and satisfaction with rewards programs. Among the various rewards programs profiled, the largest single driver of customer satisfaction was airline rewards, which had a 16-point increase in customer satisfaction in 2021.
The study found that small business credit card customer satisfaction scores rose across nearly every attribute, with the largest gains coming from credit card terms, including fees and interest rates, benefits and services and rewards program.
“As the outlook is starting to improve for many small businesses, airline cards—as well as retail cards and bank brand cards—are starting to play a major role in the customer rewards satisfaction equation,” the study noted.