PHILADELPHIA (KYW Newsradio) — A new survey by Bankrate found that many credit cardholders are leaving money on the table.
Most cardholders take advantage of rewards programs, like accruing airline miles or points for cashback. However, the survey of more than 2,500 cardholders revealed that a quarter of people did not redeem any rewards in the past year. Bankrate Senior Industry Analyst Ted Rossman says that is “a real missed opportunity.”
“These don't get more valuable over time. In fact, they often lose value due to inflation and program changes,” he said.
Rossman says cardholders should be strategic and use an "earn and burn" strategy rather than sit on rewards.