The drumroll, please. The credit card that generates the highest satisfaction rate is......American Express.

That's according to the 2009 Credit Card Satisfaction Study released this morning by J.D. Power and Associates.


Overall customers' satisfaction with their plastic fell to the lowest level since J.D. Power started the survey three years ago, a decline largely driven by unhappiness over fees and rates.

The group looked at satisfaction with rewards, benefits and services, problem resolution, interaction, fees and rates, and billing and payment process. Findings are based on replies from more than 9,000 card users.

J.D. Power found that one out of five customers saw their interest rate go up in the past year. Twice the percentage that said so in last year's survey.

And consumers who carry a balance month to month are the ones who reported the biggest drop in satisfaction over fees and rates. Of this group, about 25 percent saw an increase in the interest rate since last year.

Maybe we shouldn't be so surprised about American Express grabbing first place. Every year, the card has come out on top. The card ranks especially well in rewards, benefits and services, and billing and payment process, J.D. Power says.

The study ranks cards on a 1,000 point scale, and American Express got 762 points.

No. 2, with 751 points, is the Discover Card. After that, comes National City, Wells Fargo, Barclaycard, U.S. Bank and Chase, which come in above the industry average for satisfaction.

Coming in below the industry average: Citi Cards, First National Bank of Omaha, Bank of America, Fifth Third Bank, HSBC, Capital One, Target Visa, WaMu, GE Money, Credit One Bank and First Premier Bank.

So what's in your wallet? And do you agree with J.D. Power's survey?