More than half of Americans find frequent-flyer programs confusing, according to a new study by NextAdvisor.
NextAdvisor analyst Julie Myhre-Nunes said that’s not all they find confusing.
“Fifty-four percent of Americans don’t understand, or find frequent-flyer programs confusing, 47 percent of Americans find hotel loyalty programs confusing and 45 percent of Americans are confused about credit card rewards in general,” said Myhre-Nunes.
Those who have rewards may not know how to redeem them. That’s the case for 36% of those enrolled in frequent flyers programs, 33% of hotel loyalty program enrollees, and 24% of those with access to credit card rewards.
“You’re rewards are likely either expiring or they’re stacking up in your account and you’re just not using them, which is a complete waste of using a credit card. And, if you’re earning rewards, that’s essentially free money that you’re throwing away,” said Myhre-Nunes.
She said if a travel rewards credit card isn't a good fit for you, then try a cash-back credit card.