4 In 5 People Say Inflation Has Increased Their Interest In Credit Card Rewards
More than 4 in 5 people are reporting that inflation has made them more interested in earning credit card rewards.
With the busy summer travel season right around the corner, WalletHub today released its report on 2022’s Best Credit Card Rewards Programs, along with a nationally representative consumer survey and editors’ picks for the Best Rewards Credit Cards for Summer 2022.
Here Are Their Key Takeaways Along With Commentary From WalletHub Experts
- It Pays Big To Compare Cards: The best rewards cards can yield up to $1,204 more than the worst rewards cards over the first two years.
- Best Issuer: Capital One has the best credit card rewards program for the seventh year in a row, earning an average WalletHub score of 92%.
- Increased Demand for Gas Rewards: 61% more Americans want bonus rewards on gas purchases this year compared to 2021.
- Consumers Want Cash Back: 79% of people are most interested in earning cash back rewards, topping rewards points and miles by a wide margin.
- Extra Business for Bonus Rewards: 57% of people go out of their way to spend money with companies that give them extra credit card rewards.
- Envy Over Free Travel: Around 2 in 5 Americans are jealous of people who pay for trips with credit card rewards.
- Annual Fees Scare People: Most people (54%) say they would never apply for a credit card with annual fees.