Most credit card holders not enjoying perks

Credit card deals with perks such as loyalty schemes, travel points, and special discounts are not enjoyed by most credit card holders, a new study reveals.

Research from Goldfish finds 52 per cent all card holders have a credit card without a special or promotional perk.

However, 30 per cent of people do take advantage of retail reward schemes for using their credit card, with around 21 per cent using cashback credit card deals. Nine per cent of card holders have a deal with their credit card where they collect Airmiles or travel points.

And the headline-grabbing perks such as 0% credit cards and interest free credit card deals are taken advantage of by 17 per cent of card holders.

"Credit card holders need to demand more from their plastic. If customers hold a card that doesn’t reward their spending then they should investigate what other cards might be better suited to their spending patterns," commented Charlotte Hogg, managing director for the Goldfish Credit Card.

"We have found that an increasing number of our customers are using their credit cards for everyday purchases such as groceries and petrol, realising that they can reap rewards for all the regular purchases they make anyway."

The study also shows men are keener on cashback credit card schemes than women - 24 per cent compared with 19 per cent, with women going for retail reward schemes more than men, 37 per cent and 27 per cent respectively.

Younger card holders are keener on taking advantage interest free credit card deals - 18 per cent of under 30s going for low rate card promotions compared with 16 per cent for over 50s.