J.D. Power: Satisfaction with credit card apps falls as usage rises

Most customers are dissatisfied with their credit card mobile apps and online options, according to the results of recent studies by J.D. Power. Overall satisfaction with most digital channels has declined as usage has increased, the studies report.

Many customers are financially stressed, and they want their bank and credit card providers to help them manage their finances via online tools. In delivering personalization through high-touch digital channels, however, most banks and credit card providers are missing the mark, according to the studies. “We’re seeing a lot of volatility in customer satisfaction scores … driven by a combination of heightened customer expectations for what a digital experience should look like,” said Jennifer White with J.D. Power. “The tough economic climate has amped up the urgency of those expectations.”

While satisfaction increased slightly (up five points on a 1,000-point scale) for national bank websites, satisfaction fell among national bank mobile apps, credit card mobile apps, credit card websites, and regional bank mobile apps and websites. Satisfaction with national banking apps declined by 17 points. Among retail bank customers who visit their bank’s branch, 73% said they have a personal relationship with that bank. Among those who primarily use the bank’s digital channels, that percentage fell to 53%. A bright spot in the studies indicated that digital spending analysis and budgeting tools are associated with a significant increase in customer satisfaction across all segments.

Capital One ranked highest in banking mobile app satisfaction among national banks, followed by Chase and Wells Fargo. Capital One was first in online banking satisfaction among national banks, followed by Chase and Bank of America. Discover ranked highest in credit card mobile app satisfaction, followed by Capital One and Bank of America. Huntington was highest in banking mobile app satisfaction among regional banks, with Santander second and Fifth Third Bank at third. Regions Bank ranked highest in online banking satisfaction among regional banks, followed by Fifth Third Bank and Huntington.