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41% of us don’t fully understand credit card rewards

by on Fri September 6, 2013 • No Comment

JD PowerJ.D. Power has released its 2013 U.S. Credit Card Satisfaction Survey.  For the seventh consecutive year, American Express ranks highest in customer satisfaction.  While the headline result may be predictable, the most interesting finding is that fewer and fewer customers actually understand how their card rewards and benefits work.

Only 59% of customers say they “completely” understand how to earn rewards (down from 66% in 2012).  And a shocking 33% of customers are completely unaware of their card benefits.

This matters for both customers and the banks. When customers understand their card benefits, they spend an average of $400 more per month on their card.  When looking at credit cards today, it is easy to understand why consumers are confused.

The typical credit card has:

  • An introductory bonus, often with a requirement to spend a certain amount of money during a certain time period
  • Bonus categories, where more points / miles can be earned.  Those bonus categories can:
    • Change over time
    • Require quarterly registration
    • Be capped
  • Other bonuses / incentives, based upon level of spend
  • Multiple ways to redeem points and miles

We have tried to create a simple way for you to understand the value and benefits of travel and hotel credit cards, with our Card Finder.

Click hereand you can see the real benefits (in both points and $) of  your card – factoring how valuable your points are.  You can also compare it to other credit cards, to see if you could be earning even more.

The more you earn, the more likely you’ll be able to find a reward, and it’s a lot easier to say you understand your rewards once you’ve saved real money with your points.


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Chase Sapphire Preferred® Card

Miles dont expireas long as card is open
Learn more

Partner Offer

50,000 bonus points

Intro Offer

$0 introductory annual fee the first year, then $95

Annual Fee


Foreign Transaction Fee Waived

Yes - transfer to United MileagePlus, Southwest Rapid Rewards, Marriott Rewards, and more

Points Can Transfer to Airline Miles ?

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"These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered."

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