About 60% of affluent credit cardholders with investable assets of $100,000 or more say cash back is their favorite credit card perk, while just 22% said they preferred frequent flier miles.
According to a new CreditCards.com survey of affluent Americans, free hotel stays were the choice of 7% of those surveyed, while merchandise was preferred by just 5%. Meanwhile, concierge services, special access to experiences, airport lounge admission and companion airline tickets combined for just 3% of the vote.
Other key findings from the survey include:
• Affluent women prefer cash back over miles nearly four-to-one (67% to 17%). Wealthy men prefer cash back more than two-to-one (56% to 25%).
• Two-thirds of wealthy millennials prefer cash back, while just 14% would opt for miles.
• The wealthiest Americans are the most likely to prefer miles. Nearly one-third of Americans with investable assets of $500,000 or more said they’d choose miles over cash back. However, a majority of Americans in that group (53%) said they’d prefer cash back.
The survey was conducted by ORC International from January 15-21, 2015, and included 793 U.S. adults with investable assets of $100,000 or more.
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