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TheStreet Open House

Redeeming Travel Rewards Triggers Two-fold Emotional Response In Canadians

Collection of travel rewards is about earning miles on the initial purchase and anticipation of future reward redemption

TORONTO, Jan. 21, 2014 /CNW/ - Canadians aren't just happy when they make a purchase which could result in travel rewards, they're also happy when they redeem those travel rewards down the line. More than a third of Canadians (35%) say they feel happy when they redeem for travel rewards because they love to get a good deal, according to the TD Travel Rewards survey conducted for TD Canada Trust, which introduced a suite of TD Aeroplan Credit Cards on January 1. The next most common emotion when redeeming miles is satisfaction with the chosen reward (26%), followed by a sense of accomplishment in collecting the required number of miles and excitement about being able to take a dream trip (16%).

"The new suite of TD Aeroplan Credit Cards offer a great way for travel enthusiasts to get the most out of everyday credit card purchases and feel that exhilaration of reaching a goal when they redeem their Aeroplan Miles for a trip or reward that they have been planning for, for themselves, or with family or friends," said Christine Hunter, Vice President, North American Credit Cards, TD.

In addition to exploring the emotional response to the redemption of travel rewards, the survey also explored the personality types of travel rewards collectors. The results showed that most Canadians who collect travel rewards fall into three main personality types - Strategizers, Savers and Accidental Tourists.

Strategizers, who make up 27 per cent of collectors, develop a detailed plan to earn as many miles as possible, including accumulating bonus multiplier miles by using a rewards credit card to purchase such things as groceries and gasoline. The second largest group - at 24 per cent - are Savers, who accumulate miles specifically for a dream getaway. Close behind are Accidental Tourists (22 per cent), who earn miles randomly and travel randomly.

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