Billions lost in credit card rewards, says research Almost two-thirds of consumers are missing out on rewards they could get their hands on by using a credit card, research says.
The study, from American Express, says that £3.6 billion per year is being lost in financial rewards for credit cards, such as retail vouchers, cashback, or airline points, by not using plastic for everyday spending.Almost 80% of people with a rewards credit card are using their points at least once a year, with the average user believing they get around £116 per year in points.The most popular rewards were retail vouchers (cited by 36%), cashback (34%) and complimentary flights (13%).Julie Hay, Vice President at American Express, said: “It is time UK consumers ended their unrequited love affair with ‘Passive Plastic’.”Why continue to make purchases on debit and credit cards that give nothing back for your spending?”At a time when every penny counts, we’re urging consumers to make the cards in their wallets work harder for them.”Recent research from the Central Bank showed that debit cards are now more popular than credit cards in Ireland, as the number of people using credit cards has dropped by 100,000 in the past year, the Irish Independent reported. 
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