Survey Reveals Loyalty and Rewards Drive Credit Card Choices Among Americans

CORA Group

WARMINSTER, PACORA Group, part of Jonas Software under Constellation Software Inc., has released the results of a recent survey conducted by The Harris Poll, shedding light on American credit card preferences. The survey, which involved over 2,000 U.S. adults, highlighted the significant role that loyalty and rewards programs play in influencing credit card usage.

According to the survey, 55% of Americans prioritize loyalty and rewards when choosing which credit card to use for payments. This preference outweighs other factors such as convenience (40%) and credit limit (37%). Notably, brand loyalty ranks low in consideration, influencing only 17% of respondents.

The data also suggests generational differences in priorities. Baby Boomers (ages 60-78) are the most swayed by loyalty and rewards programs, with 64% citing them as a key factor. This is followed by Gen X (56%), Millennials (52%), and Gen Z (40%).

Nearly 73% of Americans consider rewards-related factors—such as earning potential, redemption options, and sign-up bonuses—when opening a new credit card. This is a higher priority than interest rates (47%) and security features (44%).

Denis Brosnan, portfolio manager at CORA, emphasized the importance of these findings, stating, “Rewards are viewed as a form of currency, their value plays a crucial role in payments—they actively shape purchasing decisions, spending habits, and brand loyalty.”

In line with these insights, CORA’s acquisition of Carlson Marketing Solutions aims to enhance its global portfolio. This move is set to bolster CORA’s capabilities in managing complex loyalty programs, offering greater personalization and value to customers.

The Harris Poll conducted the survey from September 24-26, 2024, among adults aged 18 and older. The results underscore the growing influence of loyalty and rewards in shaping consumer behavior in the credit card industry.

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