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Travel rewards gain popularity with credit card users

June 5, 2012

As the summer begins, many will travel to far off destinations, taking advantage of rewards offered by credit card programs.

As the summer begins, many will travel to far off destinations, taking advantage of rewards offered by credit card programs.

According to a survey by Capital One, 52 percent of those planning to go on trips will leverage some of the rewards from the financial firms, the Los Angeles Times reports. The numbers are higher than last year, when 42 percent said they would use the merchant services-related benefit programs.

In an interview with the source, Capital One vice president of rewards programs Amy Lenander said that the economic slow down had made customers more aggressive about taking advantage of savings.

“In today’s tough economic times, more consumers are using rewards to make the most of their summer vacation time and limiting the impact on their wallets,”  Lenander told the paper.

A recent study by Alpha Flight Guru revealed that firms  give away billion of dollars in travel incentives each year. The research company estimated that consumers scoop up $50 billion in benefits each year by claiming the rewards.

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