Survey Reveals 41 Percent of Rewards Cardholders Rarely or Never Redeem
Credit Card Rewards
HORSHAM, Pa., Dec. 7 /PRNewswire/ -- While over 50 percent of
respondents in a recent national survey of American consumers reported
having at least one or two rewards credit cards, more than 41 percent of
these reward cardholders either rarely or never even bother to use their
rewards. The results of the national survey sponsored by GMAC Mortgage also
indicate that traditional rewards programs, such as airline miles, are
losing steam as only 13 percent of all respondents in the survey ranked
airline miles as valuable.
"The results of this national survey send a loud and clear message that
consumers are looking for a more compelling option when it comes to credit
card rewards programs," said Mike Piazza, vice president at GMAC Mortgage.
"Many consumers have reward cards, but the value of those cards is reduced
when it comes to redeeming their rewards points. There is a lot of hassle
value associated with trying to redeem miles or points."
The GMAC Mortgage survey also revealed that nearly one in four rewards
cardholders would use their rewards more often if it were easier to redeem
their points. Seven percent of the rewards cardholders categorized the
value of their credit card rewards as worthless and do not even bother with
them. The recent survey of 3,000 Americans was conducted by market research
firm Harris Interactive, on behalf of GMAC Mortgage.
The recent release of the ditech.com Equity Rewards(SM) MasterCard(R)
along with the existing GMAC Mortgage Equity Rewards(SM) MasterCard(R) are
two examples of rewards programs that give consumers a different option
when it comes to credit card rewards programs. Exclusively available to
GMAC Mortgage and ditech.com mortgage customers, these Equity Rewards cards
allow users to pay down their mortgage with each qualified retail purchase.
Users earn one point for every dollar in net retail purchases charged to
the card, and when they accumulate 2,500 points, they will receive an
automatic principal reduction of $25 on their GMAC or ditech.com mortgage.
There are no restrictions on the number of points that can be earned and
redeemed on an annual basis.
To apply for the GMAC Mortgage Equity Rewards MasterCard(R) credit
card, call 1-800-821-8758 and mention priority code L4W0 or apply online at
http://www.newcardonline.com and enter priority code C08P. To apply for a
ditech.com Equity Rewards MasterCard credit card, call 1-800-821-8758 and
mention priority Code MB3R or apply online at http://www.newcardonline.com
and enter priority code MB36.
About GMAC Mortgage
GMAC Mortgage, LLC is among the nation's top ten residential mortgage
originators and servicers. The company originates first and second lien
residential mortgage loans through a nationwide network of 300 retail
offices, direct lending centers, and Internet sites,
http://www.gmacmortgage.com and http://www.ditech.com . GMAC Mortgage is an
indirect subsidiary of GMAC ResCap (Residential Capital, LLC), a leading
real estate finance company with diversified businesses covering the
spectrum of the U.S. residential finance industry, from origination and
servicing of mortgage loans through their securitization in the secondary
market. GMAC ResCap ( http://www.rescapholdings.com ) is an indirect wholly
owned subsidiary of GMAC LLC.
SOURCE GMAC Mortgage, LLC
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Related links:
http://www.gmacmortgage.com
http://www.newcardonline.com http://www.ditech.com
http://www.rescapholdings.com
http://www.prnewswire.com/comp/138832.html /
CONTACT:
Stephen Dupont of GMAC Mortgage,
+1-952-857-6643
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