In May 2019, 300 respondents looked for a new credit card online via desktop as part of our 3rd annual credit card study in the US. Chase.com comes out on top with a Digital Sales Score of 23, meaning the website is most efficient and effective with its website visitors. NerdWallet.com takes second place with a Digital Sales point total of 19, while CapitalOne.com finishes third at 18 points.>> Get free high level results in the Market Insights Update Credit Card United States May 2019
In customer experience, Chase.com takes the lead as well. On different customer experience themes, such as Look & Feel, Offer, and Brand, Chase.com is best at guiding visitors to applying for a credit card.
Digital Sales ScoreStudy: Credit CardMeasurement date: May 2019Country: United States
- 1 Chase.com 23
- 2 NerdWallet.com 19
- 3 CapitalOne.com 18
- 4 AmericanExpress.com 17
- 5 CreditKarma.com 17
- 6 CompareCards.com 12
- 7 Citi.com 12
- 8 Discover.com 11
- 9 BankofAmerica.com 11
- 10 CreditCards.com 9
- 11 CardRatings.com 9
- 12 ThePointsGuy.com 8
- 13 Mastercard.us 8
- 14 WellsFargo.com 6
- 15 Visa.com 5
- 16 WalletHub.com 4
- All Digital Sales Scans are based on the Digital Sales Model. Using this model, details of the orientation process can be explored. Eventually, a website’s performance is shown in two scores: the Digital Sales Score and the Digital CX-Score. Shown above is the Digital Sales Score: this shows howefficient and effective a website is in keeping his visitors.
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Chase.com reaches the top, last year’s winner CapitalOne.com drops to third place
Since the 2018 study, the online credit card business in the United States has clearly evolved. The most noticeable difference is the winner of this study: Chase.com has overtaken CapitalOne.com in both digital acquisition and digital customer experience. Chase’s lead is remarkable given its four-point lead differential with runner-up NerdWallet.com, the largest point gap across the competitive ranking.
Chase has made a significant climb the past three years. While the website ranked third in September 2017, they took to second in April 2018 and rose to first place in May 2019. Chase.com responds to the consumers’ needs by showing pre-selected offers and extending a helping hand by proclaiming to offer “a card for every need”.
Wells Fargo regains consumer confidence, returns to the 2019 Credit Card ranking
Plagued by its prior misgivings WellsFargo.com did not make the 2018 ranking but managed to overtake the famous Visa.com and earn a spot in the Digital Sales Ranking. Still, the performance of the website has not changed much since 2017. Then as now, Wells Fargo’s plain Look & Feel and less than satisfactory card comparison experience earns its only 1% of potential customers.
The fall of CapitalOne.com: consumers want a company that gives back
CapitalOne.com has kept its Findability on desktop (40%) at the same level as last year. This is impressive: the market has become more saturated with additional comparison websites joining the list of top-performers.
While CapitalOne.com made a strong first impression since 2017, the competition has done a better job this year: consumers prefer other websites over CapitalOne.com at first glance. In that vein, consumers have become more demanding on the topic of what companies give back to society, as can be seen by this comment from one of the respondents: “I do like to know things about the company, such as what types of things they support and how they give back to benefit our society.”
Comparison websites on the rise
Last year, we wrote that ‘the main establishments to issue credit cards are banks, but there are numerous affiliate market machines such as CreditKarma.com that allow customers to compare credit cards.’ While CreditKarma.com ranks higher this year, it is NerdWallet.com that has the most substantial rise. Their clean credit card landing page gives off a modern feeling that customers appreciate. Besides prior inclusions such as CreditKarma.com, NerdWallet.com, and CreditCards.com, a lot of new comparison websites made the cut this year: CompareCards.com, CardRatings.com, ThePointsGuy.com, and Wallethub.com.
The Digital CX-Score is a representation of the total experience on a website, and is based on questions on the themes Look & Feel, Offer, and Brand. Think of, for example, the clear and quick presentation of the offer on a website, and the trust people have in the company behind the website. The score consists of a weighted average of these parts, in which parts that have more impact on the final preference contribute a relatively higher weight to the average. For instance, our analyses show that the elements of Offer and Brand are more important in customers’ final preference than Look & Feel.
Digital CX-Score | DesktopStudy Credit CardMeasurement date: May 2019Country: United States
- 1 Chase.com 72
- 2 CapitalOne.com 70
- 3 Citi.com 70
- 4 AmericanExpress.com 70
- 5 NerdWallet.com 69
- 6 CompareCards.com 69
- 7 Discover.com 66
- 8 CreditKarma.com 64
- 9 CreditCards.com 63
- 10 BankofAmerica.com 61
- All Digital Sales Scans are based on the Digital Sales Model. Using this model, details of the orientation process can be explored. Eventually, a website’s performance is shown in two scores: the Digital Sales Score and the Digital CX-Score. Shown above is the Digital CX-Score: a representation of everything a visitor of a website experiences on that website. The score zooms in on the different themes regarding Brand, Offer, and Look & Feel.
Chase.com, CapitialOne.com, and Citi.com offer the best Customer Experiences
The Customer Experience Ranking shows Chase.com in the lead as well. It secured first place with 72 points, 2 points ahead of runners-up CapitalOne.com and Citi.com at 70 points each. In open questions, respondents say that Chase.com “seems to be a company that hopes to help everyone” and the website “clearly states the product and product benefits”. In customer experience, comparison websites fall short of the top-3. NerdWallet.com ranks fifth with a Customer Experience Score of 69.
Some Research Insights
Chase.com comes out on top with a Digital Sales Score of 23, meaning the website is most efficient and effective with its website visitors.
NerdWallet.com takes second place with a Digital Sales point total of 19, while CapitalOne.com finishes third (18 points).
Since last year, a lot has changed in the online credit card business in the United States. The most noticeable difference is the winner of this study: Chase.com has overtaken CapitalOne.com.
In customer experience, Chase.com takes the lead as well. On different customer experience themes, such as Look & Feel, Offer, and Brand, Chase.com is best at guiding visitors on the website.
Chase.com responds to the consumers’ needs by showing pre-selected offers and extending a helping hand by proclaiming to offer “a card for every need”.
Goal and relevance of this research
The goal of this study was to exactly map the digital experience of potential customers who are orienting themselves on opening a credit card online. It’s important to capture consumers’ choices and their reasons for choosing a specific brand/website. WUA has worked on a validated model for the past 10 years. Our model shows as precisely as possible what customers want, what the best practices are, as well as which possible issues each provider faces. A custom-made report is available within two weeks, including an action workshop on location and an accompanying presentation.