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Whether it’s high inflation or supply chain issues, most American families and small businesses are feeling the squeeze of economic uncertainty. But new polling from Morning Consult shows that consumers are turning to credit card rewards programs to fight back against inflation and reduce the high cost-of-living.
Rewards expert and Managing Editor at The Point Guy Clint Henderson discussed the results of the survey, how consumers can maximize their credit card rewards, tips for using rewards and stretching budgets, and what to look out for that could undermine those benefits.
The data tell us that:
· About half of voters (48%) and 57% of rewards cardholders say the rise in inflation and the cost of living has made them more interested in earning credit card rewards.
· Nine-in-ten rewards cardholders say cash back rewards (91%) are valuable to their everyday life.
· Three-in-five rewards cardholders (58%), including those who are low-income (58%) or with a FICO score below 650 (60%), say retail/dining points are also valuable to their everyday life.
Consumers receive roughly $50 billion in credit card rewards every year. Unfortunately, some in Congress are pushing new regulations that would undermine these very rewards programs that Americans depend upon.
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