Consumer Reports Rates Credit Cards

In the coming October issue, Consumer Reports rated 21 major credit cards. The survey, conducted by the Consumer Reports National Research Center, covered 36,298 readers' experiences with 61,944 cards. It found that consumers had far fewer billing headaches and other problems with the card issuers at the top of the ratings. In some instances, some of the biggest banks earned scores that put them at or near the bottom of the list.

The card issuers that scored exceptionally well in the survey--USAA Federal Savings, the Navy Federal Credit Union, and a group of other credit unions--also charged median interest rates between 9 and 11 percent, compared with the 17 percent imposed by the two issuers at the bottom of the group.

USAA Federal Savings, which issues American Express- and MasterCardbranded cards, earned a score of 95 out of a possible 100. That's one of the highest scores in the survey in recent years. The Navy Federal Credit Union, which offers MasterCard and Visa, was also very highly rated, as were the other credit unions.

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