Academic journal article ABA Banking Journal

Reward Cards Rising in Popularity

Academic journal article ABA Banking Journal

Reward Cards Rising in Popularity

Article excerpt

An overwhelming majority of credit card users--83 percent--have rewards programs associated with their cards according to a new Ipsos survey released by ABA.

This figure is up from the 77 percent who said they had rewards programs on at least one of their cards in November 2012. ABA released this and other data in a recent issue of The Credit Line, which examined the marketplace for rewards and how consumers use them.

According to the survey, nine in 10 cardholders (93 percent) find their rewards programs easy to understand. A majority (57 percent) said they were "very easy to understand," while 36 percent said they were "somewhat easy to understand"

"The increased prevalence of rewards cards speaks to their importance among consumers who appreciate being rewarded for their loyalty," said Molly Wilkinson, executive director of ABA's Card Policy Council. "Cardholders find it easy to take advantage of the best deals based on the type of rewards they value the most. The wide variety of rewards programs and the fact that they're user-friendly are just two of the many reasons they are so popular in today's marketplace. …

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