Who's in It for the Rewards?

Who's in It for the Rewards?

Men are more likely than women to use their credit cards in exchange for perks

The possibility of earning rewards like cashback or airline miles may be enough for some consumers to increase their spending, a new survey finds.

A February 2018 survey of US credit card holders by Finder.com revealed that men (30.9%) were slightly more willing than women (27.6%) to make a credit card purchase if it meant they would get something back in return. In fact, "they spend almost double that of women, racking up an average $3,021.31 to a woman's $1,852.87," the survey found. 

Men were more likely to use their credit card on technology/electronics (66.7%) and shoes (51.3%), while women were more likely to use their credit card on clothing (95.1%) and cosmetics (40.9%).

Women are often more price-conscious than men, and their behavior speaks to this. According to a recent survey by First Insight, some three in 10 women said they frequently use their mobile device to compare prices while in a physical store, while only 21% of men said they do the same. 

The same survey also found that men (42%) were more likely than women (31%) to shop in-store and pay full price. 

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