Cashback Credit Cards are Most Popular
According to Morgan Stanley Cashback credit cards are the number one reward option selected by customers.
Recently produced figures indicate 70% prefer cashback, 21% prefer retail discounts and 5% prefer travel perks and incentives.
Morgan Stanley say in their report:
“Loyalty and reward schemes are becoming increasingly important for customers and represent the most important consideration for 29% of cardholders who have recently switched or are planning to do so. This means that reward programmes offering bonuses such as cashback are not far behind interest rates (31%) as the primary concern for consumers.”
Patrick Muir, marketing director of Morgan Stanley consumer banking, said:
“With the majority of people paying off their credit cards in full every month, using a credit card with a reward scheme really makes sense,” he commented.
“With focus shifting away from short-term offers, the popularity of reward schemes is no surprise.”
(Via the Thrifty Scot)
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