This is why Americans love travel rewards credit cards the most.
According to a recent Forbes Advisor study, people who adore their travel rewards credit cards are most anxious to use them to defray the expense of vacations. Even more enticing than other card features like free access to a quick airport security screening line or a quiet spot to rest away from other travelers is using rewards to book a flight to a sunny getaway or a stay at an all-inclusive ski resort.
Major Findings
The majority of adults say they would use or have used points to pay for most or all of a vacation, according to a survey of 2,000 consumers done by OnePoll in collaboration with Chase Sapphire Reserve®.
American consumers also prioritize the following qualities in a travel credit card:
* receiving a generous welcome bonus or faster rewards for their purchases
* getting to use airport lounges
* Even more popular than other perks like travel and emergency help services and purchase protection is trip cancellation/trip interruption insurance.
Cardholders Enjoy Welcome Bonuses and Travel Rewards
Participants in our survey were asked which travel benefits they found most alluring. They preferred earning expedited rewards, getting a welcome bonus, and using points for travel about equally.
The ability to earn accelerated rewards on purchases, access to airport lounges, airport screening, and benefits like VIP event entry or only available to cardholders are all highly valued by cardholders.
Even though the most alluring feature of travel rewards credit cards is travel redemption, our survey indicated that Americans prefer to redeem their points for cash back above all else. Fewer people responded that transferring accrued points to airline or hotel rewards programs was their favorite redemption option.
American citizens desire travel credits to book lodging and flights.
Customers who already have qualifying travel-related spending in mind value annual travel credits. In addition to arranging a vehicle rental and using credit to partially cover the cost of a cruise, respondents said they were most likely to use a travel credit to cover a hotel stay or to reduce the cost of a flight.
While those between the ages of 18 and 41 were more likely to use a travel credit to pay for taxi or car services than older age groups, adults between the ages of 18 and 25 expressed more interest than other age groups in using credits for other forms of transportation like trains, buses, timeshares, and parking lots/garages.
One of the most valued benefits is trip cancellation or interruption.
Trip cancellation/interruption insurance is the most sought-after protection, according to our poll, among the major popular travel and purchase protection perks provided by many of the finest travel rewards cards. Trip cancellation/trip interruption insurance was important to about half of the survey respondents.
Younger Americans Benefit from Special Cardholder Benefits
According to our survey, advantages like exclusive access to sporting events, film festivals, or multi-course meals made by celebrity chefs are the ones that appeal to younger people the most.
Chase Sapphire Reserve Provides Travelers With Rewards
Chase Sapphire Reserve offers all of the most popular redemption options and perks, including trip cancellation insurance, accelerated rewards, travel credits, and purchase protection.
When booking travel through Chase Ultimate Rewards®, the Reserve card immediately begins to earn 5 points for every dollar spent on flights and 10 points for every dollar spent on hotels and rental cars after the first $300 is spent on travel purchases each year. Obtain 3 points for eating and other travel expenses for every dollar spent and 1 point for all other expenditures. After making $4,000 in transactions over the first three months after starting their account, new cardholders can additionally receive 60,000 extra points.
Because cardholders can get 50% more value when using the gateway to redeem points for travel-related purchases, Chase Sapphire Reserve can help Americans realize their ambitions of lowering their out-of-pocket travel expenses.
Additionally, guests who book via the Luxury Hotel & Resort Collection—a worldwide network of more than 1,000 resorts and hotels—receive added benefits with their reservations. The facilities include daily breakfast for two, upgraded rooms, and late checkout, to name a few. At some locations, you'll also be eligible for unique incentives that are property-specific and valued at up to $100.
Credits for travel statements
Annual travel statement credits of up to $300 are available to Sapphire Reserve cardholders; Chase will automatically apply the credit to qualifying transactions.
Chase's expansive definition of travel covers the top choices made by survey participants in addition to others. The travel credit offered by Sapphire Reserve can be applied to a variety of expenses, including bookings with hotels, auto rentals, taxis, tolls, and parking lots.
Travel Security
Your pre-paid, non-refundable travel expenses, such as passenger fares, tours, and hotels, may be repaid up to $10,000 per person and $20,000 per trip if you book your travel through Reserve and your trip is canceled or cut short due to illness, extreme weather, or other eligible events.
Along with purchase protection, return protection, and extended warranty protection, the card also provides a primary auto rental collision damage waiver, lost luggage reimbursement, trip delay reimbursement, and emergency evacuation & transportation.
Other advantages are:
* Emergency and travel assistance services. Call the Benefit Administrator for legal and medical advice, as well as other travel and emergency help, if you encounter a problem while you are away from home. (The price of any items or services you receive is your responsibility.)
* Collision Damage Waiver for Auto Rentals. Refuse the rental company's offer of collision insurance and charge the full amount of the rental to your card instead. The primary coverage pays up to $75,000 in compensation for theft and collision damage for both domestic and international rental cars.
Other Features of the Chase Sapphire Reserve
Chase Sapphire Reserve has something to offer every kind of traveler when it comes to travel benefits. Our study revealed:
* Faster airport security screening was rated as the feature survey participants liked the best among Americans who have used a service like TSA Precheck®, Global Entry, or NEXUS. For TSA Precheck, Global Entry, or NEXUS application fees, Chase Sapphire Reserve will refund you up to $100 and will pay you once per four years of card membership.
* Free or heavily discounted food and beverages was the perk that consumers who were interested in free airport lounge admission found to be the most alluring. A Priority Pass Select Membership from Chase Sapphire Reserve grants access to lounges at more than 1,300 locations around the world.
* The majority of respondents—nearly half—said they regard credit cards that provide additional points for eating in restaurants the most. For every dollar you spend on dining with Chase Sapphire Reserve, including at eat-in and fast food establishments as well as when you use qualified delivery services, you'll receive three points.
Methodology
According to the rule of conduct established by the Market Research Society, market research firm OnePoll was hired by Forbes Advisor to conduct this online survey of 2,000 U.S. adults. Data was gathered from November 10 to 14, 2022. With a 95% confidence level, the margin of error is +/- 2.2 points. The OnePoll research team, which is a corporate member of the American Association for Public Opinion Research and a member of the MRS, oversaw the conduct of this survey (AAPOR). For a thorough survey methodology, including sample sizes for various demographics and regions,
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