A Capital One (NYSE:COF) rep this morning sent me the results of their fun quarterly “Capital One Rewards Barometer” — I wish JPMorgan Chase (NYSE:JPM) and some of the other mega banks conducted a similar survey as well.
As a finance geek, it’s definitely neat to see how cardholders are using their reward points.
This was the most interesting part of the survey results, in Outlaw‘s view: “The survey reveals that 62 per cent of respondents are not planning a ‘staycation’ as an alternative to a summer trip this year.
For those who would use credit card rewards to supplement their summer vacation, the most popular redemption choices were hotels (55 per cent), air travel (48 per cent) and gas (42 per cent). ‘Pain at the pump’ resulting from soaring fuel prices is another factor affecting summer travel, with 48 per cent of survey respondents reporting that gas costs will influence their summer travel plans.”
I’m actually surprised that hotel reward point redemptions beat out air mile redemptions — I’ve always assumed the pecking order was cash back first, air miles second, and then everything else… especially since the good hotel credit cards don’t get nearly as much of a marketing push as the big-name airline cards.
— provided by Outlaw; read more about which credit cards I recommend (and don’t recommend).
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