Citi’s finding show that credit card rewards are still a major consideration for Aussies, despite a general feeling of dissatisfaction with the value on offer these days. A huge 79% of cardholders prioritised rewards options when choosing a card, while 78% were concerned with how points are valued.
“Regulatory changes have impacted credit card rewards across the board in 2017 however we
have seen that rewards points, alongside merchant acceptance, are still one of the most
desirable offerings for current and new cardholders,” said Alan Machet, Head of Cards and Loans at Citi Australia.
And according to Citi, Christmas is the time of year when Aussies really start paying attention to their rewards point stack and what freebies they can score, as 35% of rewards card holders use gift vouchers picked up through redeeming rewards points to supplement their Christmas budgets.
But it wasn’t just redeeming points Aussies were thinking about during the festive season - 64% of women said they make sure to earn as many rewards points as possible on their holiday spending.
One strategy for maximising your points earn is to choose a card with a serious bonus points offer attached. Machet said that Citi’s latest rewards change - bonus offers of up to 150,000 points - was designed to help “put the power back in cardholders’ hands.”
“For example, with 100,000 points, Citi cardholders can redeem a flight to Thailand, 120,000 points can buy you a new Apple Watch or with 150,000 points, cardholders can purchase a David Jones voucher to the value of $670,” he said.