NEW YORK—Cash is still king for many reasons, and one is that it’s the most preferred credit card perk in the U.S.
A new survey from Creditcards.com found 49% of American adults have a cash-back credit card, a 6% increase from last year.
“It's an easy option for consumers who don't want to worry about complicated point systems or meeting certain spending requirements,” said Bloomberg.
Cash-back cardholders were the most likely to redeem their rewards: 88% did so at least once in the last year, the study shows.
Millennials cashed in more than any other generation. Half of 23- to 38-year-olds received cash back from their credit cards at least monthly. Roughly a quarter did so weekly, Bloomberg said.