Cashback and rewards are top attraction for credit card customers

Published by Adam Williams on 05 June 2017.
Last updated on 05 June 2017

Cashback and rewards schemes are the main drivers for credit card holders, according to Moneywise research.

A poll of 22,000 Moneywise readers found more than a third (34%) of people pick their credit card based on which offers the best cashback or rewards points.

A quarter of people choose convenience over anything else, with these consumers simply applying for a card with their main bank.

Interest-free balance transfer deals are the main attraction for 15% of customers while a 0% purchase offer drives 6% of all credit card decisions.

These results come from a poll of Moneywise readers who took part in the voting for the Customer Service Awards 2017, which attracted almost 50,000 entries in total.

There was a wide variation in answers when consumers were asked how much they spend on their credit card each month. Almost a third (32%) of respondents say they spend between £100 and £500 each month – the most popular response.

A quarter of consumers spend less than £100 each month while just 15% say they spend £1,000 or more using their plastic each month.

See if you can switch and save by using the Moneywise credit card price comparison tool.

A previous poll of Moneywise reaaders found a third of people may be missing out on savings by not using cashback sites when shopping online. For more on this read how to cash in on cashback.

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