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Banking and Cards Research

Digging into the Customer Experience: Banking and Credit Cards

Corporate Insight’s Bank Monitor, Credit Card Monitor and Small Business Card Monitor provide ongoing coverage of the products, websites and overall customer experience offered by the nation’s leading banks and card issuers. Our value-added banking and credit card research digs deeply to evaluate the retail and small business customer experience.

Online Dispute Tools PDF Print E-mail
Firms that provide dispute tools online allow card holders to submit inquires about transactions without having to contact customer service by telephone. In this Credit Card Monitor Report, we looked into private site online dispute tools, examining the process it takes to address a problem with a transaction, as well as what help features are provided in assisting clients through the dispute process.

As we investigated each issuer’s online dispute tools, we focused on the following issues:
  • Is a dedicated dispute center or section available on the private site?
  • What is the sequence of the online dispute process?
  • Are Help links or FAQs offered for the dispute tool?
Of the 10 credit card firms tracked by Credit Card Monitor, all but two firms offer online dispute centers within their private sites. All eight firms provide links to the dispute center through a customer service section, with only 63% of the firms providing access to the dispute center directly within individual expandable transactions on the Recent Activity page – this allows card holders to immediately begin the dispute process for a specific transaction.

All of the card issuers examined in this report allow clients to select the reason for dispute from an extensive list, with one firm offering the least number of dispute scenarios at eight, and three firms offering the most dispute scenarios with 14 options. Once a dispute reason is selected, seven of the eight firms ask follow-up questions related to the reason chosen.

Some form of help within the dispute center is offered by 63% of the firms, with two of those firms offering a live chat tool. Additionally, seven of the eight firms covered in this report provide a progress meter at the top of each page and/or strep of the dispute process helping guide users and allowing them to gauge the length of time it will take to submit an inquiry.

Additional key findings include:
  • Only one firm does not automatically import transaction information into the dispute process.
  • A Verify or Review Your Information step within the dispute process is offered by 63% of firms.
  • Two firms allow card holders to upload supporting documents for dispute.
 
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