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Credit Card Issuers Streamlining Digital Processes, Enriching Account Monitoring Options and Enhancing Credit Resources to Benefit Cardholders
Wednesday, May 14, 2025
Bank of America and U.S. Bank Tie for First in Keynova Group's 2025 Online Credit Card Scorecard
WILMINGTON, Del., May 6, 2025 /PRNewswire/ -- Keynova Group, the principal competitive intelligence source for digital financial services firms, today announced the results of the 2025 Online Credit Card Scorecard, a customer experience best-practices benchmark evaluating leading issuers' websites. Bank of America and U.S. Bank tied for first place in Keynova Group's competitive evaluation of the 10 leading U.S. credit card issuers.
The latest findings highlight issuers simplifying digital processes and tasks to drive a more engaging user experience, giving cardholders the information they need to directly monitor their accounts and coupling content and tools with the credit profile to support meaningful insights.
"Issuers are continuing a focus on integrating information and actions to eliminate points of friction for current and prospective cardholders, while also engaging cardholders to play a meaningful role in managing and monitoring their card accounts and credit scores," said Beth Robertson, managing director, Keynova Group. "Empowering cardholders with these user-friendly capabilities enhances the issuer-cardholder relationship and adds value to the digital credit card experience."
Key Findings:
Streamlining Digital Processes for Cardholders
Issuers are driving positive outcomes for cardholders by integrating previously discrete actions and information to streamline tasks, reduce redundancies and lessen the need for live support resources. Nearly half of issuers now combine soft-credit preapprovals and applications into a single and more efficient flow that simplifies required prospect actions and facilitates acquisition. Another 60% of Scorecard issuers offer cardholders the opportunity to add a newly approved or replacement credit card to a digital wallet for immediate and seamless use of the card, avoiding possible production or shipping delays. To help mitigate unnecessary transaction disputes, which can be costly and time-consuming for issuers to handle, nearly all issuers now supply expanded transaction details, including displaying the merchant address or a mapped location, listing an identified purchaser for multi-user cards, or providing a digital merchant receipt to help cardholders identify purchases.
Helping Cardholders Manage and Monitor Digital Accounts
Enabling cardholders to participate in directly monitoring their account activity and reduce customer servicing costs, issuers are also expanding tools that empower digital users. For example, U.S. Bank recently introduced a Status Dashboard allowing cardholders to track in-progress actions including transaction disputes, balance transfers, credit limit-increase requests, and changes to customer information. Enlisting cardholder engagement in account security is another critical initiative. Bank of America and U.S. Bank each offer an online account security indicator (and Wells Fargo supports a similar tool via its mobile app) highlighting personalized actions that cardholders can take to protect their account information. Nearly three-quarters of issuers furnish last login date and time details on the authenticated landing page, and last login device information is increasingly provided for timely verification by the cardholder. In addition, as more organizations gain access to credit card and card account details, issuers are supplying lists of merchants that are storing a user's credit card number or of third parties with data-sharing access to a card account, enabling cardholders to proactively control the availability of their personal information.
Enriching Cardholders' Credit Profiles
New features that couple credit scores and reports with expanded content and tools can help cardholders better understand and effectively manage their credit profiles. Though it has become table stakes for issuers to supply cardholders with complimentary single sign-on access to their credit profiles, some issuers are supporting more highly tailored content. Half of issuers now offer a customized planning resource with personalized recommendations to raise a user's credit score, and 40% offer a simulation tool that cardholders can use to explore the possible effect of various actions, such as taking out a new loan or paying off a card balance, on their credit score.
About the Credit Card Scorecards
Keynova Group's fact-based Online Credit Card Scorecard evaluates user-facing capabilities, customer experience elements, and best practices to identify evolving trends and insights that drive digital strategy for cardholder acquisition and servicing. The evaluation encompasses the websites of 10 leading U.S. credit card issuers: American Express, Bank of America, Barclays US, Capital One, Chase, Citibank, Discover, PNC, U.S. Bank, and Wells Fargo. The companion Mobile Credit Card Scorecard, released annually in Q4, reviews the mobile app and mobile web experience for this same group of issuers. For more information about Keynova Group's Credit Card Scorecards, please visit https://www.keynovagroup.com/scorecards/#credit-cards-and-lending.
About Keynova Group
Keynova Group is the nation's foremost competitive intelligence firm providing trusted benchmarking insights and analysis of consumer and small business digital financial services, including banking, credit card, home lending and insurance. Since 1999, Keynova Group's Scorecards have served as the go-to source for leading financial services firms to obtain reliable competitive intelligence and actionable insights. The firm's proven methodology and highly detailed results help its clients maximize the value of their digital channels to deliver a premier experience to customers and prospects.
View original content to download multimedia:https://www.prnewswire.com/news-releases/credit-card-issuers-streamlining-digital-processes-enriching-account-monitoring-options-and-enhancing-credit-resources-to-benefit-cardholders-302447217.html
SOURCE Keynova Group
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