Every year, JD Power & Associates puts out a credit card customer satisfaction survey in which all the major credit card companies are listed along with their scores. It’s a 1,000 point scale and this year the “winner” was American Express with 769 out of the possible thousand. The silver medal goes to Discover Card with a 757.

I wanted to do an informal Bargaineering comment survey to see who you guys rated as the best credit card issuer. Is your favorite American Express? Discover? Citi? Chase?

I don’t call my credit card very often and I’ve never had an issue with any of my cards, so the basis of my satisfaction really just boils down to cash back rewards. In that regard I’m close to JD’s results as my favorite card is the American Express Costco TrueEarnings card followed by the Citi mtvU card.

What’s your favorite and why?

Credit card companies are always competing for “share of wallet,” that is a piece of your spending pie. They will offer new account bonuses to entice you to sign up. They will give you reward points of cashback to entice you to keep using their card. They’ll throw out low introductory interest rates to make spending your money a little easier.

As consumers, you might think it’s easy to compare offers. If someone offers you 1% and someone offers 2%, the 2% is better right? Not necessarily. In the world of reward programs there are two sides – the earning of points and the spending of points. It’s very easy to only focus on the earning of points and assume that spending it will be easy. As some travel credit card holders have quickly learned, sometimes spending it isn’t as easy as it seems.

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While I’ve never carried a balance on my credit card before, making sure the card offered a low interest rate was always important to me. While I never intend to carry a credit card balance, I’m also a realist. I recognize that sometimes you can’t control what you can or cannot do. Things get out of your control and during those times it’s important to make sure that you’re prepared. Should you ever need to carry a credit card balance, it’s important to make sure that the cards you choose offer a lower interest rate. When I analyze credit cards, I usually look at the rewards program first, then any special offers, followed by the interest rate.

I separate the list into two camps – those who are currently battling debt and those who are like me, looking with a more preventative eye. I’ve listed those cards that are strongest for credit card debt warriors first. All the cards are suitable for those in debt, but the Citi Platinum Select and PenFed Visa Promise cards are likely best. The Discover® More and Chase Freedom, the third and fourth card listed, are better for those without debt since they offer rewards but slightly less attractive APRs for existing debt.

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We recently received a new Privacy Notice from Citi for 2009, which looked a lot like this online form, and never really appreciated how marketing happens behind the scenes. I implicitly understood that there was some marketing involved but when it’s all spelled out in a privacy document it can be a little disconcerting because the document pretty much covers every potential type of marketing, not the ones they actually do.

For example, they talk about sharing information with other companies in the Citigroup family thought I’ve never received a solicitation from another company at Citi. They also talk about third party nonaffiliated companies, but I’ve also never received anything there (probably because I opt out of junk mail as part of our do it yourself identity theft protection)

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I’ve been getting a lot of stories of people struggling to get out of debt because of the recent How to Fight a Debt Collector series. They haven’t reached the point of fighting debt collectors yet and they want to keep it that way. As much as others like to malign those deep in debt, the vast majority of debtors want to make good on what they owe.

If you’re in heavy credit card debt, the first thing you need to do is take stock of your financial situation and stop spending. You need to get yourself on a budget and stop the bleeding. Once you get that under control, the next step is to restructure your debts so you can make up lost ground. That’s where this post comes in.

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Today we’ll be taking a look at the Discover Card rewards catalog, the final in our series of reward catalog reviews. The reason I kept Discover for last was because it’s less widely accepted and because their rewards catalog is very simple. Until taking a look today, I didn’t even know they had a rewards catalog because I always converted my cash back rewards into statement credits. When Citi converts points into cash at 0.69¢ and American Express does it at 0.60¢, I’ll take the full value 1¢ every single day. However, there are instances where you may not want cash.

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Today we’ll take a look at the ThankYou Network, the rewards network for Citi credit cards, as part of my series on reviewing credit card reward networks. As is the case with every credit card rewards catalog, the points to dollar ratio changes with the things you redeem. This review will give you a better understanding of the catalog, how to find the best deals, what the best item is, and help you decide whether this rewards program is right for you.

ThankYou Network

The ThankYou Network is probably one of the most extensive rewards catalogs available, as it includes all the standard stuff like gift cards and statemetn credits, plus it adds in thousands of products. If you had enough points, you have over three hundred laptops to choose from! They have outdoor equipment, automotive supplies, home goods, music downloads, and basically anything and everything you could imagine. If you are green, you can even participate in American Forests’ “Plant a Tree program” at the cost of 4,800 points per twenty-five trees.

So let’s take a look at the program, see where the value is and where the fluff is, and try to find out if it’s a good program or not.

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Liz Pulliam Weston recently published an article summarizing and analyzing J.D. Power and Associates 2008 survey of credit card user happiness. They surveyed 8,000 users on five factors: interaction with the company, billing and payment processes, fees and rates, reward programs, and benefits and services.

I was a little surprised to see that the highest score was 783 out of 1,000 for American Express, with Discover taking second with 751. Everyone else surveyed scored less than the industry average of 724!

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