Canadians Want To Earn Points Quickly

Scotiabank has released the results of a national survey revealing Canadians’ behaviour and satisfaction when it comes to travel rewards programs. Ninety per cent of Canadians in the target age/income group belong to a travel rewards program, and of these, just over half (56%) have a personal credit card that offers travel rewards. When asked to rank their most important consideration for selecting a travel rewards credit card, survey participants overwhelmingly ranked as most important how quickly they can earn points (number of points earned per $1 spent) (42%), followed by the travel rewards program the card is affiliated with (28%), the type of card (17%) and the issuing bank (14%). At the same time, the most frequently cited aggravations associated with travel rewards cards and programs include: Annual fees, the time needed to accumulate points and travel reward limitations, such as seat restrictions, limited airline choices, or blackout periods on flights. Other findings on how Canadians are using their travel rewards program: !!! 74% of travel reward credit card holders who redeemed points in the past 12 months redeemed for travel while 27% redeemed for non-travel rewards; !!! Two-thirds of travel rewards program members (64%) flew in the past year; !!! Nearly half of travel rewards program members (46%) redeemed points within the past year; !!! 84% of flights taken by travel rewards program members in the past 12 months were for personal reasons and included other family members, while only 16% were for business travel. (http://www.scotiabank.com)