Credit Card Rewards - What Do Americans Really Want?

PORT CHARLOTTE, Fla. -- CardTrak.com, the nation's most established and most trusted credit card advisory service for consumers, today released the results of a survey which revealed that an overwhelming number of Americans prefer cash back as their favorite credit card reward followed by air miles.

Based on an online poll of about 1,000 consumers that concluded this week, 56% said they prefer cash back on their credit cards, while 23% said they favored air miles. About 12% preferred points and only 9% selected automatic rebates or discounts as their favorite rewards.

Robert B. McKinley, head of CardTrak.com, says, "The bedazzling array of reward programs has driven Americans to prefer cold hard cash for using their credit cards. It's easy to earn a ton of points and miles but cardholders are increasingly frustrated when redeeming their hard earned rewards."

CardTrak.com offers the following tips on getting the most from points and miles reward programs:

1. Only sign-up for rewards that have true value to you.

2. If you do not pay-off the balance in-full each month weigh interest costs carefully.

3. Be realistic - if you only charge a little do not expect a lot.

4. Don't jeopardize accumulated rewards by making late payments or defaulting on your account.

5. Don't make long range plans as redemption rules and value can change on very short notice.

6. Calculate the value of the redemption against the cost of purchasing the reward outright.

7. Consolidate your spending on a rewards card and boost earnings via additional users.

8. Read the fine print to make sure you understand the limitations such as a price cap on redemptions.

9. Monitor for expiration dates on accumulated points and miles.

10. Select a card brand (VISA(R); MasterCard (R); American Express(R); or Discover(R)) that will give you the most flexibility to earn points and miles.

McKinley notes that the best points and miles reward programs carry high annual fees and have true value for the right consumers. Frequent flyers of network airlines and high income earners can extract outstanding value from credit card rewards programs in today's market.

According to CardWeb.com the number of reward credit cards in the USA has grown from 290 million in 2002 to 490 million in 2006.

About CardTrak.com

CardTrak.com, http://www.cardtrak.com, is the nation's most established and most trusted credit card advisory service for consumers. Since 1986 CardTrak has educated millions of consumers via printed publications on where to find the best credit cards and how to get the most from their credit cards. An Internet pioneer in 1995, CardTrak.com continues to provide the most comprehensive, objective service for consumers to learn, search and compare credit card offers and benefits. CardTrak follows credit cards, debit cards, gift cards, and smart cards. CardTrak.com's free services include daily credit card news, commentary, alerts, FAQs, tools, tips, calculators, incentives, perks, statistics, polls, glossary, terms, keyword search, and sweepstakes. CardTrak is a registered trademark of CardTrak LLC. Professor Cardworthy, Professor Cardworthy's Corner and Cardworthy are trademarks of CardTrak LLC. CardTrak LLC is a privately-held company headquartered in Port Charlotte, Florida with branch offices nationwide.