One of the Main Reasons Consumers Choose Their Credit Card Is Because of the Rewards

June 23, 2016

Most Americans Would Charge Almost Everything to Their Credit Cards in Order Earn Rewards

David Patron, Senior Vice President and Head of Loyalty Solutions for Wells Fargo

(San Francisco, CA, Thursday, June 23, 2016) – One of the main reasons consumers choose their credit card is because of the rewards. And according to a recent survey, more than half of Americans say they charge almost everything they buy to their credit card so they can earn rewards1 – and this is not a bad thing. Because if you’re going to use a credit card, why not get rewarded for it?

David Patron, Senior Vice President and Head of Loyalty Solutions for Wells Fargo, offers tips and insights to help make your rewards program work for you.

SOUNDBITE #1:

BEFORE APPLYING FOR A NEW CREDIT CARD, THINK ABOUT YOUR SPENDING HABITS AND LOOK FOR A CARD THAT REWARDS YOU FOR YOUR EVERYDAY PURCHASES. THAT WAY, YOU’LL EARN REWARDS THAT YOU CAN REDEEM FOR THINGS LIKE TRAVEL OR MERCHANDISE OR EVEN CASH FOR YOUR SAVINGS ACCOUNT OR TO PUT TOWARD A LOAN. REMEMBER, STAY ON TOP OF ANY REWARDS EXPIRATION DATES SO YOU CAN MAKE THE MOST OF WHAT YOU’VE EARNED. AND, USE YOUR CREDIT CARD RESPONSIBLY SO YOU AREN’T GOING INTO DEBT IN ORDER TO EARN REWARDS.

SOUNDBITE #2:

MANY PEOPLE REDEEM THEIR REWARDS FOR CASH, TRAVEL OR MERCHANDISE. BUT IF YOU WANT TO DO MORE, LOOK FOR PROGRAMS THAT LET YOU GIFT THEM TO SOMEONE ELSE OR POOL THEM WITH FRIENDS OR FAMILY. THESE KINDS OF OPTIONS HELP YOU SUPPORT THE PEOPLE AND CAUSES THAT YOU CARE ABOUT. NO MATTER HOW YOU WANT TO USE YOUR REWARDS, STAY ON TOP OF ANY EXPIRATION DATES. AND, USE YOUR CREDIT CARD RESPONSIBLY SO YOU AREN’T GOING INTO DEBT IN ORDER TO EARN REWARDS.

For more information, visit wellsfargo.com/go-far-rewards.

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