49% of Americans have a cash-back credit card, survey shows

According to a new survey by CreditCards.com, 49 per cent of Americans are cash-back credit card holders, up from 43 per cent last year.

A great majority of those cardholders have redeemed rewards at least once—88 per cent. Thirty per cent benefit from rewards monthly, and more than one in 10 get their rewards weekly.

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However, other rewards may be more valuable.

“The math says that transferable travel rewards are the most valuable, but it takes time and effort to maximize them, whereas cash back offers simplicity and universal appeal,” said CreditCards.com industry analyst Ted Rossman.

Since cashback is easier to use, Rossman believes it’s a “great starting point” and calls cash back “free money.”