Does anyone care about debit reward cards?
Even though nearly half of all banks and credit unions offer rewards for debit card use, few consumers give a rip. All people really want is mobile banking and free ATMs. So why do financial institutions continue to offer unpopular features?
by. Rob Rubin
Debit reward cards were the least popular feature of shoppers on FindABetterBank in Q3 2013. Only 6% of shoppers indicated that debit reward cards were a “must have” feature.
Who does this feature appeal to? It turns out that young consumers are the most interested segment for these programs. In fact, among shoppers indicating debit reward cards are a “must have,” 42% are under 30 years old. However, 36% of shoppers under 30 demand mobile banking, and 26% say surcharge-free ATM access is critical.
