Discover card not only bounced back early in consumer perception after a major security breach rattled the whole industry three weeks ago, their perception has now surpassed MasterCard and is homing in on first place Visa in the US.
Since the breach was reported on March 31st, consumer perception of Visa and MasterCard among adults 18+has declined considerably, likely reflecting the press coverage which has tended to focus on these two brands. As a matter of fact, MasterCard has now dropped to parity with American Express. On the other hand, American Express experienced only a modest drift down since the breach announcement.
The downward impact on Discover was also short-lived – lasting only a week – and they have since rebounded past MasterCard and have since come close to first place Visa.
American Express, Discover, MasterCard and Visa were measured with YouGov BrandIndex’s Buzz score, which asks respondents: “If you've heard anything about the brand in the last two weeks, through advertising, news or word of mouth, was it positive or negative?”
YouGov BrandIndex measurement scores range from 100 to -100 and are compiled by subtracting negative feedback from positive. A zero score means equal positive and negative feedback.
In late March, before the breach hit, Visa and MasterCard buzz scores were in the low 60’s, while Discover was in the low-to-mid 40s, and American Express hovered in the 36 to 38 range.
Visa is now down to a 44 buzz score, while MasterCard is tied with American Express at 36. Discover sunk from a 46 buzz score right after the breach to 34 four days later on April 6th. Since then, Discover has climbed to a 41 score, passing American Express and MasterCard, and just a few points away from Visa.