Waban, Mass. -- Research results released Monday by Temkin revealed that, based on a study of 10,000 U.S consumers, American Express and USAA earned the top spots in the credit card sector.
According to the 2013 Temkin Experience Ratings, HSBC was the lowest rated credit card issuer for the third consecutive year.
"USAA and American Express set the pace for customer experience in credit cards while HSBC is a real black sheep in the industry," said Bruce Temkin, managing partner, Temkin Group.
Temkin evaluates three areas of customer experience: functional, accessible and emotional.
The ratings include 10 credit card companies: American Express, Bank of America, Capital One, Chase, Citigroup, Discover, HSBC, U.S. Bank, USAA, and Wells Fargo.
Other research highlights included:
- To earn their shared no. 1 overall status, American Express and USAA both ranked #89 across all industries with a Temkin Experience Rating of 70%. That represents a three-percentage point decline for USAA and an increase of two percentage points for American Express;
- Capital One was the only other credit card issuer besides HSBC to earn a "very poor" rating, earning the next to lowest score in the industry, 59%; and
- American Express earned the top functional rating, Discover earned the top accessible rating, and USAA earned the top emotional rating.