Credit Card News: Shopping

Selected cards: 0
Advertising Disclosure
0% APRs, Cash Back Credit Cards Top Consumer Wish Lists
11 Dec
The holiday season is a popular time to apply for new credit cards, particularly cards that offer incentives like a percentage off the first purchase or a sign-on bonus reward. A recent survey asked consumers what they look for when deciding to apply for a new card and found that a no-interest promotional period and cash back rewards were the top two reasons they would apply for a new card.

Fifty-four percent of respondents said that a 0% APR would prompt them to fill out an application for a new credit card, and 50% said that getting cash back rewards on purchases would do the trick.

The Raddon Financial Group surveyed 1,200 people in the United States during October 2015. Respondents were broken into four age groups, classified as follows:

• Traditionalists, born between 1922 and 1945
• Boomers, born between 1946 and 1964
• Generation X, born between 1965 and 1978
• Millennials, born between 1979 and 1999

Credit card rewards programs were popular with all age groups, as were zero-percent interest incentives and cash back rewards. Eighty percent of people who said they had a credit card that offered rewards reported redeeming those rewards on a regular basis.

Instant issue, ID theft, and low interest are popular perks

Other credit card perks that proved popular with cardholders were identity theft protection, low interest rates, and no annual fee. Another feature people like is instant-issue credit cards. These cards offer consumers the chance to save on their first purchase at a store when they apply and are approved for a card right away. Accounts are opened immediately and a discount is applied at the register.

Holiday sales such as Black Friday and Cyber Monday are times when many people open instant issue credit card accounts, as well as throughout the holiday shopping season. When people tend to be spending large amounts, the payoff for opening a card that offers a percentage off the first purchase is greater.

As for other features people want in a credit card, no annual fee is a favorite perk for 64% of survey respondents, while 58% look for low ongoing interest rates. Forty-two percent of folks said that identity theft protection was a major bonus in a credit card.

Cash is the most popular credit card reward, favored by 56% of those surveyed, while rewards points come in second with 40% of respondents, and 17% prefer frequent flyer miles.

Read Also Related News

  • 28 Feb

    If you and your partner find yourself at odds over finances, join the club. Money is the number one thing couples fight about according to therapists and relationship experts. But just because it’s common, doesn’t mean it can’t be...

  • 5 Oct

    People who love taking advantage of Groupon’s discount offers now have an even better way to save money when using a Groupon – as long as they pay for it with an eligible Mastercard or Visa credit or debit card. Groupon Plus offers...

  • 26 Apr

    Mobile payments are gaining momentum, and that’s being demonstrated by the success of Visa Checkout, the online payment option for folks with a Visa card and a mobile device, desktop, or laptop computer. More than 20 million people have...

looking for a Credit CARD:
Credit One Bank®: Credit One Bank® Platinum Visa® with Cash Back Rewards
Apply Online
Qualified applicants will enjoy benefits including 1% cash back rewards on all purchases, no annual fee, and a competitive APR. Terms apply
The Bank of Missouri: Milestone® Mastercard® with Free Choice of Card Image
Apply Online
Applying is quick and easy with our fast decision process
Horizon Card Services: Horizon Gold
Apply Online
Instant $500 Credit Line. No Credit Check.
Credit One Bank®: Credit One Bank® Platinum Visa® for Rebuilding Credit
Apply Online
See if you Pre-Qualify without harming your credit score
Want to Read News From Other Categories?
Your Money
Card Issuers
  • 20 Jul

    A new credit card from Hyatt Hotels Corporation and Chase Card Services will offer members 9 bonus points per dollar spent at Hyatt, double bonus points at restaurants and on eligible airline ticket purchases, double points at fitness clubs, and double points on local...

Customer Questions

  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • 0 Selected Cards Compare