The business cards for Verizon Wireless customers were more likely to be used for business-related tasks than customers with other carriers, according to new data from a new study from the nonprofit Consumer Federation of America.
The study, which looked at business cards issued between January 2012 and February 2017, found that Verizon customers with a business-degree earned 2.3% more than those with an associate’s degree or higher.
Business cardholders with only a bachelor’s degree earned 1.7% more, and those with only an associate degree earned 0.7%.
Verizon was one of just five major U.S. carriers to offer only a business card.
But it was among the top five when it came to the number of business cards it issued.
Verizon’s business cardholders were also more likely than its competitors to be online and use other devices to access business services, such as a smartphone or tablet.
More than one in five business card holders was using their business card at least once per day, the study found.
That’s up from 0.4% of Verizon customers.
Verizon’s Business Card Rewards program, which rewards cardholders who spend $25 or more per year, also was one reason for the increase.
“Verizon has an impressive portfolio of rewards programs that helps make its cards as attractive as possible to the consumer,” said John O. Bancroft, the organization’s executive director.
“We applaud the company for taking steps to ensure that business card users have the opportunity to earn rewards and to support the expansion of its business card program.”
Verizon did not respond to requests for comment.
Bancrots study also looked at cardholder satisfaction with their experience with their business cards and other card benefits, such at the company’s “Verizon Business Card Credit Card” or “Verizapay.”
Bancros study found that the percentage of business card cardholders dissatisfied with their card experience was more than double the rate of businesscard holders who said they had no issues.
The survey found that 75% of business-cardholders who had a problem with their personal card experience were satisfied with their benefits.
More than 70% of cardholders said they were “very satisfied” with their credit score.
Bucs’ report came as the NHL announced Tuesday that the Buffalo Sabres would begin selling its business cards.
The team said the cards would go on sale starting Thursday and will be available online and at home for those who already own the team’s business credit cards.
Baczkowski said it’s important for business card owners to remember the importance of credit scores.
“You should be a part of the solution,” she said.
“It’s important to remember that if you don’t have a business, you can’t have access to credit.”
Bucas’ study, “Business Cards: The Most Important Business Credit Cards,” found that of the business card issuers, only a few have made significant progress toward improving customer satisfaction and improving their customer experience.
For example, the Consumer Federation’s Business Credit Card Study 2016 found that a third of business owners surveyed said they “could see” a better credit score for their business, while 28% said their business would be “better” with a higher score.
About 50% of the cards issued by major card issuors have been discontinued, the report found.
Baischkowski said she hopes other business card companies will follow suit.
“I think it’s about time to look at this and realize that you can make a difference in the lives of people who are doing their best to provide the best service to their customers,” Baischowski said.