Credit Cardholders Don't Redeem Rewards Points, Survey Says

Share this content:
Fifty percent of consumers enrolled in a credit card rewards program five years or longer have never redeemed their points, a new survey from Maritz Loyalty Marketing found.


Despite this, a rewards program remains a major factor when consumers decide which card to use for a purchase, according to Maritz, St. Louis.


"Credit card issuers recognize the popularity and value of these programs but are missing the boat when it comes to persuading the customer to redeem their rewards," said Gail Sneed, director of financial services market development at Maritz Loyalty Marketing.


When a consumer redeems for a reward, the percentage indicating that a rewards program influences their decision rises to 75 percent.


"Credit card issuers need to be more proactive when it comes to communicating with the consumer, especially about reward redemptions," Sneed said. "Customizing credit card rewards programs to fit the customer's lifestyle is one step toward increasing reward redemption."


When consumers were asked what types of rewards they prefer, they responded: cash back, 73 percent; free merchandise, 27 percent; free travel, 26 percent; gift certificates, 25 percent; members-only offers or discounts, 12 percent; special benefit or upgrades, 10 percent; and free tickets to events, 7 percent.


The findings come from a larger survey conducted in October by Maritz Research to gauge attitudes and behaviors related to rewards/loyalty programs for retailers, hotels, airlines, credit cards and restaurants. The study is based on 407 interviews with randomly selected adult participants in an online panel.


close

Next Article in Data/Analytics

Sign up to our newsletters

Company of the Week

Since 1985, Melissa has helped thousands of companies clean, correct and complete contact data to better target and communicate with their customers. We offer a full spectrum of data quality solutions, including global address, phone, email, and name validation, identify verification - available for batch or real-time processes, in the Cloud or on-premise. Our service bureau provides dedupe, email/phone append and geographic/demographic append services for better targeting and insight. For direct mailers, Melissa offers easy-to-use address management/postal software, list hygiene services and 100s of specialty mailing lists - all with competitive pricing and excellent customer service.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above