While we’ve all heard the saying cash is king, that’s not necessarily true anymore. In fact, for most people these days, it’s all about the credit card and the rewards they provide! I need to be better about redeeming my rewards…
SWNS Digital recently reported on a new SlickDeals survey and here is what they found:
- Most Americans say they use their credit cards for everything from groceries to vacations and more.
- The average person has three credit cards to their name.
- 40% of people say they use their credit cards a few times a week.
- Among the most popular uses of their credit cards:
- Everyday expenses (52%)
- Travel (47%)
- Restaurant dining (45%)
- Vacations (43%)
Of course, paying them off is a whole other issue, with only 32% of people paying their credit cards off in full every month. One of the big reasons folks embrace their credit cards is for the rewards they get in return.
- Folks have actually saved an average of $757 using credit card rewards over the past year.
- 55% of people say they’ve been able to pay for a vacation entirely with credit card rewards.
- 53% of people say they’ve experienced things for the first time because of credit card rewards, including:
- Fancy meals (54%)
- Concerts (49%)
- $100 gift cards (46%)
Source: SWNS Digital