Summary
Study by Mercator Advisory Group finds consumers less interested in reward programs, more interested in tailored credit card advantages
The editorial content below is based solely on the objective assessment of our writers and is not driven by advertising dollars. However, we may receive compensation when you click on links to products from our partners. Learn more about our advertising policy.
The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Please see the bank’s website for the most current version of card offers; and please review our list of best credit cards, or use our CardMatch™ tool to find cards matched to your needs.
Reward program participation in the United States dropped from 76 percent in 2012 to 68 percent in 2013 among all owners of general purpose credit or charge cards, according to the Mercator Advisory Group report, Credit 2013: Consumers Eye Co-branded Rewards. The study also found retailer or corporate-branded reward programs, such as those offered by major airlines, fared better than the rewards from bank-issued programs.
“Issuers must make their credit card rewards programs enticing to multiple consumer segments and easy to redeem at time of purchase in order to maintain consumer interest,” said Primary Data Service Manager and report author Karen Augustine in the study release.
The study also shows that the younger you are, the less likely you are to participate in credit card reward programs. In 2013, 81 percent of seniors, 68 percent of 35- to 64-year-olds, and 57 percent of young adults engaged in credit card reward programs, which marks a significant decline in participation across each age group since 2012.
Information for the report was gathered through an online survey of 3,003 U.S. adult consumers between May 28 and June 6, 2013. The report was released in January 2014.
See related:7 ways to get the most from rewards cards, More infographics
To use the graphic on your site, use the following code:
<center><a href=”http://www.creditcards.com/credit-card-news/infographic-reward_program-use-decline-age-1701.php”><img alt=”CreditCards.com infographic: Falling out of love with rewards” border=”0″ src=”http://www.creditcards.com/credit-card-news/images/infographic-rewards-programs.jpg” /></a> </center>
Join the Discussion
We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.
The editorial content on CreditCards.com is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company’s business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.