Which credit card perks save Americans the most?

Some 85 million Americans report they earn money or save using cashback rewards.

Last updated:

Happy senior couple opening Valentine

There’s nothing quite like getting something for nothing. While credit cards don’t quite fit that bill — what with the spending required to get rewards and the annual fee you might pay — they’re pretty close. This may explain why just over half (50.48%) of American adults have a rewards card, according to the latest research from Finder.

Boomers love their rewards cards

Of the generations, rewards cards are most popular among baby boomers, with 61.32% of all boomers saying they own one. This equates to roughly 54.9 million adults.

Following boomers is Gen X at 47% (about 41.7 million adults) and millennials at 41.7% (31.6 million).

Men are almost 10 percentage points more likely to say that they own a rewards credit card than women, with 55.33% owning a rewards card versus 45.74% of women.

What perks do Americans use most?

What better perk can you get for spending money than getting some of that money back? This may explain why nearly three-quarters (66.9%) of those surveyed said they’d earned money or saved using cashback rewards in the last 12 months, and 51.9% say they earned rewards points.

The next most commonly used perk was travel or flight credits (21.7%).

Which rewards do you get the most value from?

While rewards are the most commonly used perk of a credit card, many credit cards come with less used perks, which add to the value of the card.

For example, those surveyed report an average savings of $8,710.42 per person thanks to fraud protection services that safeguard cardmembers against unauthorized or incorrect charges. Access to airport lounges represents another $7,552.06 per person, followed by elite status at $6,191.48

For media inquiries:

Allan Givens headshot

Allan Givens
Public Relations Manager

Nicole Gallina headshot

Nicole Gallina
Communications Coordinator

Ask an Expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder.com provides guides and information on a range of products and services. Because our content is not financial advice, we suggest talking with a professional before you make any decision.

By submitting your comment or question, you agree to our Privacy and Cookies Policy and Terms of Use.

Questions and responses on finder.com are not provided, paid for or otherwise endorsed by any bank or brand. These banks and brands are not responsible for ensuring that comments are answered or accurate.
Go to site