Consumer Reports: Best and Worst Credit Cards

According to Consumer Reports, the highest ranking credit cards were issued by American Express, Discover, and credit unions. Consumer Reports surveyed 36,000 cardholders and found that USAA Federal Savings scored the highest with 95 points out of a possible 100 points. The lowest ratings were earned by Direct Merchants (67 points) and Washington Mutual’s Providian (61 points). The three highest rated cards charged between 9% and 11%, showing that if you want your customers to be happy then you shouldn’t charge them such exorbitant interest rates (Direct Merchants and WaMu’s Providian charged 17%).

Here’s a little customer service tidbit for those card issues who weren’t so good:

Overall, 27 percent of consumers who called customer support reported problems in getting help from representatives. The respondents reported unreasonable waits, difficulty navigating voice systems, or having to make multiple calls to speak to several staffers.

Source: CNN Money