By Raphael Michilis
At least 67% of rewards credit card holders in the US plan to travel this summer, and half of them said they will use their cards to cover part of their trip expenses, according to the Rewards Barometer, a research conducted quarterly by BIGinsight for the financial corporation Capital One.
The 2011 edition of the research had found out 42% of respondents said they would use rewards cards to pay for their vacation expenses, 8 percentage points below this years’ result.
The majority of rewards card holders (54%) plan to spend between $500 and $2000 in their summer holidays this year.
For other 18% of respondents, the 2012 summer getaway budget will from $2,001 to U$3,000.
The study also found out that almost two-thirds of the American reaward card holders do not plan to go away on popular summer holiday weekends such as Memorial Day, July 4th and Labour Day.
Redemption
The Rewards Barometer also investigated how Americans plan to redeem their points, and found out that 58% of summer travellers will buy plane tickets with their credit card rewards.
The second most popular redemption option is hotel expenses, with 42% of respondents likely to deduct it from their rewards, followed by fuel 18%.
"Flexible rewards programs that allow cardholders to redeem their rewards when and how they want can make that vacation dream an affordable reality. When choosing a new rewards program, consumers should consider both the value of rewards and the ease of using them," advises Amy Lenander, Vice President of Rewards Programs at Capital One.
At least 67% of rewards credit card holders in the US plan to travel this summer, and half of them said they will use their cards to cover part of their trip expenses, according to the Rewards Barometer, a research conducted quarterly by BIGinsight for the financial corporation Capital One.
The 2011 edition of the research had found out 42% of respondents said they would use rewards cards to pay for their vacation expenses, 8 percentage points below this years’ result.
The majority of rewards card holders (54%) plan to spend between $500 and $2000 in their summer holidays this year.
For other 18% of respondents, the 2012 summer getaway budget will from $2,001 to U$3,000.
The study also found out that almost two-thirds of the American reaward card holders do not plan to go away on popular summer holiday weekends such as Memorial Day, July 4th and Labour Day.
Redemption
The Rewards Barometer also investigated how Americans plan to redeem their points, and found out that 58% of summer travellers will buy plane tickets with their credit card rewards.
The second most popular redemption option is hotel expenses, with 42% of respondents likely to deduct it from their rewards, followed by fuel 18%.
"Flexible rewards programs that allow cardholders to redeem their rewards when and how they want can make that vacation dream an affordable reality. When choosing a new rewards program, consumers should consider both the value of rewards and the ease of using them," advises Amy Lenander, Vice President of Rewards Programs at Capital One.
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