Airline Miles Rewards Help Drive Surge in Small Business Credit Card Customer Satisfaction, J.D. Power Finds
In one of the clearest signs yet that businesses in America are ready to get back to normal, airline rewards once again have become one of the top drivers of small business credit card customer satisfaction. According to the J.D. Power 2021 U.S. Small Business Credit Card Satisfaction Study,? released today, small business customer satisfaction is surging, driven by a combination of improved overall economic outlook, competitive interest rates and satisfaction with rewards programs-with a particular focus on airline rewards.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211123005334/en/
J.D. Power 2021 U.S. Small Business Credit Card Satisfaction Study (Graphic: Business Wire)
"The strongest drivers of small business customer satisfaction with credit cards is a strong alignment between specific business needs and individual card benefit," said John Cabell, director of wealth and lending intelligence at J.D. Power. "We saw the dark side of that phenomenon during the height of the pandemic when many customers were more frustrated with fees and credit limits and not able to take advantage of card benefits. Now, 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."
Following are some key findings of the 2021 study:
The 2021 U.S. Small Business Credit Card Satisfaction Study, now in its third year, measures customer satisfaction with the largest small business credit card issuers in the U.S. by examining six factors (in alphabetical order): benefits and services; channel activities; credit card management; credit card terms; key moments; and rewards. The study includes responses from 3,101 small business credit card customers whose businesses have an approximate annual revenue between $10,000 and $10 million. The study was fielded in July-September 2021.
For more information about the U.S. Small Business Credit Card Satisfaction Study, visit https://www.jdpower.com/business/resource/us-small-business-credit-card-study.
To view the online press release, please visit http://www.jdpower.com/pr-id/2021160.
About J.D. Power
J.D. Power is a global leader in consumer insights, advisory services and data and analytics. A pioneer in the use of big data, artificial intelligence (AI) and algorithmic modeling capabilities to understand consumer behavior, J.D. Power has been delivering incisive industry intelligence on customer interactions with brands and products for more than 50 years. The world's leading businesses across major industries rely on J.D. Power to guide their customer-facing strategies.
J.D. Power has offices in North America, Europe and Asia Pacific. To learn more about the company's business offerings, visit JDPower.com/business. The J.D. Power auto shopping tool can be found at JDPower.com.
About J.D. Power and Advertising/Promotional Rules: www.jdpower.com/business/about-us/press-release-info
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