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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 Account Maintenance PDF Print E-mail
One of the main benefits of offering a private site is the ability for customers to execute account changes on their own that would otherwise require the help of a live CSR. In this Credit Card Monitor Report, we look at the general account maintenance tools and functions available from each issuer, as well as features that enable card holders to update their account information, request replacement cards and associated materials and order document copies.

Additionally, the ease with which users can locate the Online Account Maintenance tools is an important aspect, along with how those options are presented. Beyond basic profile changes, we also reviewed which firms enable users to request changes to their account and provide a level of account customization, along with any other unique maintenance options. As we investigated each firm’s Online Account Maintenance options, we focused on the following issues:
  • Are account holders able to update their basic Personal Profile (e.g., mailing address and contact information)?
  • What types of General Maintenance and Requests are available (e.g., order a replacement card, create a new PIN and request contactless payment capabilities)?
  • Is a unified Profile or Customer Service tab offered, containing most, if not all, of a firm’s maintenance functions?
Each of the 10 firms tracked for Credit Card Monitor offers at least basic profile updating and account maintenance tools within their private site, allowing clients to update their mailing address, email and phone contact information online. Additionally, every issuer offers paper statement suppression, though not all firms link this option alongside their other maintenance tools. Half of the firms in this report also allow customers to update secondary security features online, while only 50% of firms provide tools for either adding additional cards to their account, linking new accounts to their online ID, or both.
 
Most issuers provide decent card plastic management tools, with 80% of the firms allowing clients to request a replacement credit card from the private site. Additionally, 30% of issuers provide card image request capabilities. A useful feature that only 40% of firms offer is the ability to activate a newly received card on the standard private site; all others require clients to call in to activate a new card or provide card holders with a separate activation sitelet.
 
Surprisingly, only 60% of issuers provide card and account profile maintenance tools within a single, unified section, accessible from a private site main navigational tab. Overall, five of the six firms offering a unified account maintenance area provide easy access to each available account maintenance tool.
 
Additional key findings include:
  • Half of the issuers tracked allow clients to select a new Minimum Payment Due Date.
  • Six firms in this report afford clients the ability to request a credit-line increase via the private site.
  • Half of the firms let clients order convenience checks, while only two firms let clients request a cash advance for delivery into a checking account
 
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