MCLEAN, Va., March 27, 2012 /PRNewswire/ -- Earning more rewards for every dollar spent was the top reason card holders would be most likely to switch to another rewards credit card over large sign-up bonuses, according to the Capital One (NYSE: COF) Rewards Barometer. This is a quarterly survey among American consumers focused on how they accumulate and redeem credit card rewards issued by their bank or credit card company.* While a high earn rate is an important rewards feature, complexities around earning these rewards, including special categories which have higher rewards earn rates such as gas or groceries, or spend minimums in order to receive rewards, are impacting the overall experiences of rewards credit card holders. In fact, nearly half of those surveyed reported that if earning rewards were made simpler their experience of earning credit card rewards would improve. "Rewards card holders should make sure they are getting great rewards value for using their card. They should read the fine print to understand the true value of how much they are earning and, importantly, how easy or hard it will be to actually use those rewards," said Amy Lenander, Vice President of Rewards Programs at Capital One. "Less fine print typically means bigger rewards and fewer hassles." Expiring rewards continues to be a pain point for rewards card holders, with 40 percent of respondents indicating that eliminating expiration dates on rewards would improve their redemption experience. Rewards customers surveyed also indicated that adding the ability to buy anything on a card and get reimbursed for it (29 percent) would help improve their overall experience of redeeming rewards. Top Redemption The number one rewards redemption option is cash (45 percent), followed by gift cards and domestic airline tickets (32 percent and 28 percent respectively). In regards to how cash rewards are used, once redeemed more than one-third of consumers prefer to apply their cash rewards to their statement balance (36 percent), ahead of saving cash (24 percent) or spending cash on themselves (18 percent).