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Ability To Earn Points Quickly Top Reason For Choosing A Travel Rewards Credit Card: Scotiabank Survey

Stocks in this article: BNS

National survey reveals the most enticing and frustrating aspects of travel rewards programs

TORONTO, Aug. 12, 2013 /CNW/ - Scotiabank today released the results of a national survey revealing Canadians' behaviour and satisfaction when it comes to travel rewards programs.

90% of Canadians in the target age/income group belong to a travel rewards program, and of these, just over half (56%) have a personal credit card that offers travel rewards. When asked to rank, their most important consideration for selecting a travel rewards credit card, survey participants overwhelmingly ranked as most important how quickly they can earn points (number of points earned per 1 dollar spent) (42%), followed by the travel rewards program the card is affiliated with (28%), the type of card (17%) and the issuing bank (14%).

"We know Canadians want to earn points faster and redeem them often without the aggravation of blackout periods and high fees," said Mike Henry, Scotiabank Senior Vice President and Head of Retail Payments, Deposits and Lending.  "With the Scotiabank suite of American Express cards, our customers know that they can earn points quickly and redeem simply for any flight, any time on any airline-no restrictions or added costs."

At the same time, the most frequently cited aggravations associated with travel rewards cards and programs include:

  • Annual fees
  • The time needed to accumulate points and;
  • Travel reward limitations, such as seat restrictions, limited airline choices, or blackout periods on flights.

"We designed the suite of Scotiabank American Express cards with the Canadian traveler's preferences in mind; flexibility when booking travel rewards, accelerated accumulation of points on eligible purchases and highly competitive fees," said Henry. "With all of the potential changes underway in the credit card market, we encourage Canadian travelers to take a close look at the suite of Scotiabank American Express credit cards."

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