Fact Check Team: Survey shows 72% chase rewards despite rising credit card interest
Facts And Fact Checking,Credit Rating,Debt
From the Right
AllSides Media Bias Rating: Right
A recent Bankrate survey reveals that 72% of adults with credit card debt are actively pursuing rewards, despite financial experts warning that the interest payments often outweigh the benefits of these rewards.
“It doesn’t make sense to pay 20, 25 or 30% in interest just to earn a few percentage points in cash back or travel rewards,” says Ted Rossman, a senior industry analyst at Bankrate. "Rewards are great, but only if you're able to pay in full and avoid interest each month."
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