US Cash-Back Credit Card Emerging Features Benchmark 2022

How 10 Leading Cards Measure Up for Today’s Digitally Demanding Customer

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About This Report
Our second annual benchmark evaluates 10 leading cash-back credit cards, with no annual fee, across seven feature categories. It weights their scores according to the results of a survey of US cash-back credit card prospects.
Table of Contents

Executive Summary

Cash back’s popularity among consumers has spawned a host of new card programs, escalating fierce issuer competition. This second-annual study reveals which of 10 leading cash-back credit cards are best positioned to attract and engage digitally demanding customers, based on our analysis of 49 emerging credit card features.

3 KEY QUESTIONS THIS REPORT WILL ANSWER

  1. What are the most important emerging cash-back credit card features US card issuers can offer?
  2. Which features do cash-back credit card prospects value most, both overall and within key customer segments?
  3. How do 10 leading cash-back credit card programs compare in their support for features that card prospects value most?

WHAT’S IN THIS REPORT? An analysis of the most in-demand emerging cash-back credit card features an issuer can offer to attract customers. This benchmark evaluates 10 cash-back credit cards, with no annual fee, across seven feature categories; it weights their scores according to the results of a survey of US cash-back credit card prospects. The findings pinpoint product development priorities and marketing opportunities for card issuers.

KEY STAT: Security and Control features are in demand among card prospects, with the top two most in-demand features falling into that category. By a wide margin, free identify theft insurance and Social Security number monitoring were the most valued.

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Table of Contents

  1. Executive Summary
  2. Key Findings
  3. Action Points
  4. Cash-Back Cards Face Innovation Threats—but Greenfield Opportunities Abound
  5. Leading Cash-Back Credit Card Programs in 2022
  6. Customers’ Most Valued Features in 2022
  7. No. 1: Security and Control
  1. No. 2: Earning Rewards
  2. No. 3: Cash Back
  3. No. 4: Shopping
  4. No. 5: Redeeming Rewards
  5. No. 6: Payment Flexibility
  6. No. 7: Advanced Digital Features
  7. Methodology
  1. Glossary
  2. Survey Demographics
  3. Appendix
  4. Read Next
  5. Sources
  6. Media Gallery

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authors

David Morris

Contributors

Grace Broadbent
Analyst
Tyler Brown
Senior Analyst
Daniel Decea
Researcher, Financial Services
Ona Koehler
Senior Director, Benchmarking
Na Li
Director, Primary Research
Wendy Malloy
Director, Report Editing
Jaime Toplin
Senior Analyst