Megan Gale urges credit cardholders to do their research in new AMEX campaign
Fashion model Megan Gale has teamed up with AMEX in a campaign encouraging Aussies to get savvier when it comes to how they use and choose their choice of credit.
“As a busy working mum, juggling so many things, it’s easy not to pay attention to the things you’re using every day, such as your credit card,” said Gale.
“With some good programs and offers out there, you really need to do your research as you could be missing out on some great benefits.”
This comes as a study by AMEX into rewards credit card habits among consumers showed a significant number of Aussies are taking years to start using their points at all.
Over a quarter of respondents in the survey, dubbed Rewards Rethink, said they had failed to claim anything from their rewards card in two years. The main reason cited by the cardholders, was that they didn’t know how to use points.
Unfortunately for 42% of the thousand surveyed by AMEX, limited research resulted in a third of them feeling regret over their choice of provider. On the plus side, cardholders who spent time comparing before committing had accumulated, on average, 66% more rewards points than those who didn’t.
In light of AMEX’s findings, Steve Hui, CEO of iFLYflat, also known as “The Points Whisperer”, shared some words of advice for consumers with rewards cards in their wallets.
“Make sure you understand the overall value of the card, as not all rewards programs are created equal,” he said.
Hui also noted that “the credit card rewards landscape will change and many consumers will start seeing their rewards programs become even less rewarding,” due to the RBA interchange reforms.
“Now is the perfect time to reassess what cards you are using.”
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