Top shopping features of US cash-back credit cards

In our 2022 US Cash-Back Credit Card Emerging Features Benchmark report, we analyze the most in-demand features an issuer can offer to attract customers.

Here are some of the top shopping-related benefits:

Sixty-day product returns encourage customers to put more purchases on their cards. And returns are exploding, which may drive feature usage. No issuers in the report currently offer the feature, but this highly valued feature could be reasonably implemented if issuers limit return categories.

Coupon alerts tied to point-of-sale history incentivize return visits, boosting issuer and merchant loyalty. Widely available among store cards, this feature could become more valuable to consumers if deal-seeking behavior picks up thanks to inflation and recession.

Free two-day shipping can act as a purchase driver. Almost all—96%—US customers say free shipping impacts their purchase decisions, per a September report by PowerReviews. Issuers can meet demand by partnering with third parties to offer the service, as American Express has done with ShopRunner and Mastercard has done with Shipt.

Digital coupon alerts powered by geo-based technology have potential—but issuers must tread carefully. Digital banking users are apprehensive about banks using their location data. Issuers that can address these concerns while educating customers on anytime, anywhere savings opportunities may reap the benefits.

Extending warranties encourages consumers to put higher-ticket purchases on their cards, boosting spend and card loyalty. Cardholders using this feature instead of spending extra on third-party versions can save money and gain peace of mind.

Read the full report.