Most Americans Could Live Without Credit Card Rewards Programs

When did credit cards become so confusing? We have multiple rewards cards, travel cards, co-branded “lifestyle” cards, student cards, business cards – and all points in-between. Many Americans would be OK with some simplification.

According to a new survey from Bankrate, 51% of American credit card holders would keep using their card the same way they did previously, even if their present rewards programs were eliminated.

This suggests that such rewards as points, frequent-flier miles, cash back and others goodies are less of an incentive than previously thought.

Bankrate found that the reason for this has to do with why Americans use credit cards in the first place. The survey found that the main reasons are:

Because credit cards are easier and more convenient than paying with cash (40%).

They provide financing for emergency expenses (19%).

You can earn rewards by using them (14%).

Notice how far behind the rewards angle turns out to be. It’s truly in the “meh, whatever” category. No wonder so many Americans say they could do without these programs.