Business News • MarketWire • Billions in Breakage - How 31% of Credit Cardholders Can Take Charge of their Unused Rewards and Do Some Good in the Process |
Billions in Breakage - How 31% of Credit Cardholders Can Take Charge of their Unused Rewards and Do Some Good in the Process |
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Billions in Breakage - How 31% of Credit Cardholders Can Take Charge of their Unused Rewards and Do Some Good in the Process
AUSTIN, TX--(Marketwired - May 17, 2017) - In the retail and payments industry, "breakage" is a term merchants use to describe the unredeemed value that consumers hold in gift cards, airline miles and other "rewards" schemes. According to Bankrate's recent Money Pulse Survey, an astonishing 31% of credit cardholders -- totaling over 60 million consumers -- never redeem their credit card reward points each year. The points expire and annually generate over $16 billion in breakage that goes back to pad the profits of credit card issuers. These financial institutions "bank" on their cardholders not using their earned rewards -- pun completely intended! -- but one credit card company is looking to disrupt the reward model to allow consumers to take charge of their breakage value.
View More : http://www.marketwired.com/mw/release.do?id=2217040&sourceType=3
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