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Most Admired Credit Companies
[04:45:10 AM Thursday, September 04, 2008]
Each year Fortune magazine publishes its well-known "America's Most Admired Companies" rank list. The company and its survey partners at Hay Group ask experts to select 10 companies they admire most in different industries from aerospace to wholesalers. The companies are valued on eight criteria, from quality of products and services to social responsibility. The winners have strong records of innovation, leadership, and financial strength. Which credit companies scored the highest rank in personal finance industry this year? Read our news to find the answer.
Fortune is a global business magazine published by Time Inc.'s Fortune Money Group. Each year it identifies "America's Most Admired Companies" - the firms with the strongest business reputations. Fortune and its survey partners at Hay Group ask executives, directors and analysts to rate companies in their respective industries according to eight attributes: quality of management, quality of products and services, financial soundness, use of corporate assets, innovation, long-term investment value, people management and social responsibility.
Each company receives a numerical score from zero (poor) to ten (excellent). To be included in "America's Most Admired Companies" list, a firm needs to get the highest scores. This year the champions in the "Megabanks, Credit Card Companies" section are:
1. American Express. Overall score: 7.85
American Express is one of the largest and richest brands in the world. It issues a lot of beneficial credit cards for customers, students, small businesses and corporations.
AmEx credit cards come with no annual fee, low interest rates on purchases, 0% APR on balance transfers for up to 15 months and great reward programs of all kinds. However, the offers are targeted at customers with good or excellent FICO score.
2. Bank of America. Overall score: 7.38
Bank of America offers a full range of products for customers, small businesses and large corporations. The company is especially known for its exclusive rewards credit cards. You can apply for sports themed plastics that let you earn merchandise of your favorite sport team, credit cards for the environmentally conscious people to make donations to a wildlife organization, or frequent flyer credit cards linked with popular U.S. carriers.
3. Wells Fargo. Overall score: 7.05
Wells Fargo is a financial services company with about $483 billion in assets. It provides consumer finance, banking, investments, insurance and mortgage.
Wells Fargo offers several secured and unsecured credit cards for consumers and college students. You can find offers with cash back or point rewards programs, no annual fee, zero or low interest rates on purchases and balance transfers.
4. J.P. Morgan Chase. Overall score: 6.45
JPMorgan Chase & Co. is a leader in financial services for consumers, commercial banking, financial transaction processing, asset management, and private equity.
The company issues over eleven categories of credit cards, so you can always find an offer that will work best for you. One of the most popular Chase credit cards is Disney Rewards Visa. It is an excellent choice for people who love all that is connected with Disney. You can earn theme parks tickets, free hotel stays and various Disney merchandise.
5. Wachovia. Overall score: 6.01
The Wachovia credit cards come with a variety of features and services designed to meet your individual needs. You can find offers with 0% APR on balance transfers, attractive purchase rates, automatically waived fees, 24/7 customer assistance, 0% liability for unauthorized purchases and no-fee overdraft protection.
Wachovia Possibilities Rewards program lets you earn points for every eligible purchase. You can combine points earned on all your Wachovia personal and business credit and check cards.
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