Why Don’t People Use Their Credit Card Reward Points? | Saradar Bank | Banks in Lebanon | Personal Banking | A Digital Bank

Why Don’t People Use Their Credit Card Reward Points?

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Cards have made shopping much easier and more, right? Plus, every time you use your card, your bank gives you reward points you can exchange for gifts, flight tickets, or cash back.

Sounds like a sweet deal, right? Except that it isn’t. There are still many people who waste their rewards or don’t exchange them. In the US for example, 31% of all credit cardholders have never redeemed their rewards.

I know, it’s crazy!

Maybe you do redeem your points regularly, but are you taking full advantage of them?

Actually, there are several valid reasons why people don’t use their card reward program, mainly:

1. They don’t understand how the rewards work

Cards have become so common that many banks don’t bother explaining the redemption system to their customers. In addition, a complicated old-fashioned system will often result in frustrated customers who prefer to avoid redeeming their points altogether.

2. They don’t earn enough points

It takes some time to accumulate enough points to exchange for valuable rewards, especially for customers who don’t use their card too often. It is up to the bank to encourage you to use your card by offering you free points on special occasions or promotions that matter specifically to you.

3. They don’t keep track of their points

Let’s be honest, when was the last time you checked your points balance yourself? Even if your account statement mentions your points, this number is usually buried at the end of the statement.

4. Their points expire

Yes, most banks still impose a limit on redeeming your points. I know! What is this? The year 2000? Basically, if you haven’t accumulated enough points, you are forced to redeem them for a low-value gift… or lose all of them!

If you have experienced any of these problems, then you haven’t yet “lived” your reward program.

When Saradar Bank launched Live Rewards, we did our best to design a loyalty program that guarantees you never have an excuse to waste your points/miles again.

Are you worried the program is too complicated?

Don’t be. All your points/miles can be redeemed at any time for the gift of your choice: items, gift vouchers, air miles on the Airline of your choice during all seasons with all taxes included, or even a fantastic all year round 1% cash back.

Do you think you won’t earn enough points/miles?

Hah! When you get your first credit or debit card from Saradar Bank, you get a welcome bonus of 2,000 points/miles. You can earn an extra 500 points/miles with every transaction of 100 USD during the first three months, 200 points/miles on your birthday, and 200 points/miles when you request an additional card.

Not to mention, we’re committed to launching promotions that matter to you.

Getting more points/miles is up to you, but that should be easy…

What if you lose track of your points/miles?

You won’t. Your balance is instantly updated on your Saradar Bank e-banking platforms; you can also check it anytime by logging to your Live Rewards account or simply on your monthly credit card statement. Also, not to brag but, have you checked our rewards yet? Trust me, you will want to keep track of your points/miles.

What if your points/miles expire?

Your points/miles will never, ever expire as long as you keep using your card once per month. And if you don’t want to use them, you can easily transfer them to another Live Rewards member.

So where’s the catch? Are the rewards really worth it?

You tell me. Check out our rewards here.

Apply for a Saradar Bank card today

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