Capital One Rewards has recently released some travel statistics that I found particularly interesting. It has to do with the earning and redemption of credit card rewards. With all the recent credit card promotions, especially Capital One’s most recent “Match My Miles” promotion, I only thought it was appropriate to share these stats.
- Nearly 60 percent of consumers will not have enough rewards for a spring getaway
- Almost one-third of consumers (29 percent) will have to settle for a “stay-cation” instead as they indicated blackout dates would prevent them from using credit card rewards for a spring trip.
- Consumers would rather be able to redeem credit card rewards for domestic than international airline tickets (47 vs. 30 percent respectively)
- Redemption for hotel/lodging beat out international airline tickets (38 vs. 30 percent respectively)
- Four-to-one consumers reported they would rather travel to the Royal Wedding at Westminster Abbey (31 percent) than go to Washington, D.C. to participate in the annual White House Easter Egg Roll (7 percent)
I personally get more bang for my buck with the airline redemption, but I can see how most of the population does not have the time nor strategic insight to worry about the best redemption and how to go around black out dates. The Capital One Card has zero strategy – you get the same value as redeeming for a taxi ride as you do for an international flight. Credit card usage for earning and redemption is definitely a personal preference, which depends on the type of travel you desire and time the time you will dedicate for redeeming.
Where do you fall in these stats?