During
a recession... shift happens. New research shows membership in credit
card rewards programs is decreasing significantly while debit card
rewards programs are gaining popularity.
Also, most consumers are not
willing to pay a higher interest rate for rewards and those that do are
only willing to pay slightly more.
The study by First Data Competitive
Intelligence found that the number of cardholders holding a rewards
credit card declined from 71% in 2008 to 67% this year, while the
number of cardholders holding a rewards debit card jumped from 34% last
year to 45% this year.
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