PYMNTS Daily Data Dive: What Consumers Want From A Credit Card

By  |  July 28, 2016
 | 
Rewards
Rewards Have the Greatest Influence on Consumers and Their Choice of Credit Card

A survey by Citi conducted on 1,500 adults in the U.S. finds that rewards programs are the most important factor for consumers when it comes to choosing a credit card, not the interest rate or the sign-on bonus.

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    Consumers use rewards points mostly for groceries, cash, gift cards, statement credits and travel.

    Here are the data from the study:

    86% | The percentage of respondents who take full advantage of their rewards, redeeming them at least three times a year

    67% | The percentage of respondents claiming that a rewards program is a factor in their decision to choose a new credit card

    67% | The percentage of reward redemptions that go toward everyday items like groceries

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    54% | The percentage of consumers who are influenced by interest rates when selecting a credit card

    47% | The percentage of consumers who redeemed rewards for cash


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