USAA Sets The Standard In Credit Card Experiences

In Forrester’s 2008 Customer Experience Index (CxPi), we ranked 113 companies across 12 industries. I recently published a snapshot of the credit card industry results from 10 firms: American Express, Bank of America, Capital One, Chase, Citigroup, Discover, HSBC, USAA, Washington Mutual, and Wells Fargo. Here are some highlights of the results:

  • Experiences are “okay.” As a group, the 10 credit card issuers ended up with an “okay” rating of 68%, a small increase over the 2007 CxPi results.
  • USAA stands apart in the industry. With an “excellent” rating of 91%, USAA easily outpaced the other firms and ended up #2 in the overall rankings. The second firm on the credit card list, American Express, was 12 percentage points back with a “good” rating and Discover was the only other provider with a “good” rating.
  • HSBC came out at the bottom. With a “very poor” rating of 54%, HSBC came out at the bottom of the list. Two firms ended up with “poor” ratings: Washington Mutual and Bank of America.
  • USAA dominated all categories. USAA came out on top in all three components of the CxPi, with the largest lead in enjoyability. American Express earned “excellent” ratings for meeting user needs and being easy to work with.
  • Washington Mutual dropped the most. When we compared results for nine of the firms that were in the 2007 CxPi, Washington Mutual ended up having the largest decline (9 percentage points). HSBC wasn’t far behind; falling 8 points. Capital One and Discover made the largest gains; both increased by 4 percentage points.

The bottom line: Credit card providers need to learn a lot from USAA.

Written by 

I am a customer experience transformist, helping large organizations improve business results by changing how they deal with customers. As part of this focus, I examine strategy, culture, interaction design, customer service, branding and leadership practices. I am also a fanatical student of business, so this blog provides an outlet for sharing insights from my ongoing educational journey. Simply put, I am passionate about spotting emerging best practices and helping companies master them. And, as many people know, I love to speak about these topics in almost any forum. My “title” is Managing Partner of the Temkin Group, a customer experience research and consulting firm that helps organizations become more customer-centric. Our goal is simple: accelerate the path to delighting customers. I am also the co-founder and Emeritus Chair of the Customer Experience Professionals Association (, a non-profit organization dedicated to the success of CX professionals.

2 thoughts on “USAA Sets The Standard In Credit Card Experiences”

  1. Bruce,

    Thanks for this post.

    Have you got any comparative ebit/profit comparisons? If they are in the report let me know.


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