January 1st, 2006
38% of US households use a cashback credit card
New York Times’ Damon Darlin collected all sorts of interesting trivia on rewards credit cards. 67% of all cardholders have a reward card in their wallets. That is up from about 50% of all cardholders in 2002. Since then, the number of households using a cash-back card has grown 38%, to 32.6 mln. Cardholders put about 75% of their charges on a single reward card. UBS Securities estimates that while the annual spending average for a regular Visa card is about $5,200 a year, it jumps to $26,100 for a reward card. 38% of reward cardholders said their cash-back card was their primary card, while only 14% cited their air-miles card.
Alex is a software engineer in the San Francisco Bay Area. ITFacts is created and updated by a group of statistics-obsessed individuals.
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