For point chasers that are looking to make the most out of their credit cards will find that there are many ways through which you can gain points. Frequent flyers reward points are one of the quickest ways in which you can boost your points, but more Aussies are opting to swipe on the ground to gain points instead. Here is how Aussies choose to gain and spend their points.
Numbers for reward programs are on the up
There are three types of people when it comes to reward programs; those who have heard of them, those who are apart of them, and the point chasers whose pulse is on everything rewards related. The common thread is that Aussies are finding reward programs beneficial in some way or another. According to research by Mastercard 9 in 10 Aussies belong to a loyalty program and more than 60% of Aussies are signed up to a reward program.
The versatility of reward programs is a key feature that hooks credit card holders with ease, which is why 56% of Aussies will choose a credit card based on its reward program. You have the option of gaining points through a frequent flyer program or shopping with a wide range of stores that are partners with your card. How you choose to redeem them is up to you. Whether you redeem it as cash back, to save towards a flight, gift cards, and more the choice is yours.
What reward cardholders use their points for
Despite frequent flyer programs being one of the best ways in which to gain points quicker, Aussies are still opting to shop in stores to gain points. According to a survey by CitiBank, 44% of Aussies used their plastic to do their Christmas shopping in the past year to gain points. Furthermore, 64% of females were more likely to take advantage of gaining points through shopping.
The research further revealed that Millennials wanted a quicker way to gain points than to wait to take a flight to gain it. When it came down to it 53% of Millennials were more inclined to redeem their points for things such as cashback rewards or retail vouchers, while 37% of Aussies wanted a card that allowed them to gain and redeem their points instantly.
Not any reward program will do for many Millennials, making them savvy when it comes to comparing reward programs. 71% of Millennials (20-34) say that they compare multiple reward programs before making a decision while 40% of Aussies aged 45-75 were likely to do this.
How to make the most of your points
Despite the popularity of reward programs, there are still some Aussies who are not clear on how to make the most out of their reward points. 44% of Aussies were still unclear on how they could best collect rewards on their credit cards. Interestingly enough 47% of people collected reward points despite making use of them. A few ways to make the most out of rewards program is to:
- Check the reward program terms on gaining points
- Find out their affiliated partners and programs
- Check which products or frequent flyer programs can help boost your points
- Avoid spending your points at the reward store