by Alison Storm | 09/3/10

How likely are you to switch your credit card? A recent survey found that just 22 percent of credit card customers say they "definitely won't switch" their credit card company in the next 12 months. In 2008 that number was at 30 percent, according to Newsweek. But that means that a whopping 78 percent of credit card users are willing to jump ship and use another company if they feel their current company isn't offering good service.

Some credit card companies certainly have better reputations than others, according to an annual customer satisfaction survey completed by JD Power and Associates. The companies that scored best include American Express, Discover Card and US Bank. The companies that received the lowest reviews were HSBC, Citi Cards and Capital One. In all, 11 credit cards were included. According to reports, American Express received top ratings in six survey categories which included billing and payment, customer interaction, problem resolution, credit card terms and rewards and benefits.

So why are credit card customers so lacking in loyalty? JD Power explains it this way, “According to the J.D. Power Web Intelligence Division, online consumer conversations about credit cards indicate that many of those consumers perceive their relationships with credit card companies as an ongoing game of ‘cat and mouse,’ with each side trying to outsmart the other. Social media discussions regarding credit cards also indicate that many consumers view even CARD Act disclosures with cynicism.”

According to Newsweek, the CARD Act which was passed by Congress last year may help. The CARD Act eliminates some of the most hated practices of credit card companies including random rate increases, astronomical fees and confusing card terms. But there are a few things to keep in mind if you decide switching credit card companies is your best move. You may face balance-transfer fees and a disruption to your credit history.