US Cash-Back Credit Card Emerging Features Benchmark 2023

How 10 Leading Cards Meet Prospects’ Demands

Report by David Morris  | Nov 3, 2023
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Table of Contents
Executive Summary
Introduction
Leading Cash-Back Credit Card Programs in 2023
Prospective Cardholders’ Most Valued Features in 2023
No. 1: Security and Control
No. 2: Earning Rewards
No. 3: Cash Back
No. 4: Shopping
No. 5: Payment Flexibility
No. 6: Redeeming Rewards
No. 7: Advanced Digital Features
Methodology
Glossary
Survey Demographics
Sources
Media Gallery
About This Report
Leading cash-back credit cards need to drive acquisition in an increasingly competitive segment of the card market. Our exclusive consumer survey data reveals which emerging features issuers should invest in to win over customers.
Topics
Financial Services
Payments
US
Table of Contents
Executive Summary
Introduction
Leading Cash-Back Credit Card Programs in 2023
Prospective Cardholders’ Most Valued Features in 2023
No. 1: Security and Control
No. 2: Earning Rewards
No. 3: Cash Back
No. 4: Shopping
No. 5: Payment Flexibility
No. 6: Redeeming Rewards
No. 7: Advanced Digital Features
Methodology
Glossary
Survey Demographics
Sources
Media Gallery

The US credit card market is saturated with cash-back cards: Every major issuer offers one, and many now offer at least two. To acquire new cardholders, issuers should prioritize adding features that meet consumer demand and differentiate their cards. This study gives issuers the ammunition to do that.

Key Question: Which emerging cash-back credit card features do prospects value the most?

Top 5 Most In-Demand US Cash-Back Credit Card Features, July 2023 (% of respondents calling the feature
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KEY STAT: US cash-back credit card prospects’ most-valued features enhance cardholders’ security, reward their loan payment behavior and loyalty, and provide them with payment flexibility.

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Table of Contents

  1. Executive Summary
  2. Introduction
  3. Leading Cash-Back Credit Card Programs in 2023
  4. Prospective Cardholders’ Most Valued Features in 2023
  5. No. 1: Security and Control
  6. No. 2: Earning Rewards
  1. No. 3: Cash Back
  2. No. 4: Shopping
  3. No. 5: Payment Flexibility
  4. No. 6: Redeeming Rewards
  5. No. 7: Advanced Digital Features
  6. Methodology
  1. Glossary
  2. Survey Demographics
  3. Sources
  4. Media Gallery

Charts in This Report

Top 5 Most In-Demand US Cash-Back Credit Card Features, July 2023 (% of respondents calling the feature "extremely valuable")US Cash-Back Credit Cards (rank out of 10, score out of 100*)
Most In-Demand US Cash-Back Credit Card Feature Categories, 2023 (category values)Security and Control Feature Rank and Score of Top US Cash-Back Credit Cards (rank out of 10, score out of 100*)
Security and Control Features of Top US Cash-Back Credit CardsEarning Rewards Feature Rank and Score of Top US Cash-Back Credit Cards (rank out of 10, score out of 100*)
Earning Rewards Features of Top US Cash-Back Credit CardsCash Back Feature Rank and Score of Top US Cash-Back Credit Cards (rank out of 10, score out of 100*)
Cash Back Features of Top US Cash-Back Credit CardsShopping Feature Rank and Score of Top US Cash-Back Credit Cards (rank out of 10, score out of 100*)
Shopping Features of Top US Cash-Back Credit CardsPayment Flexibility Feature Rank and Score of Top US Cash-Back Credit Cards (rank out of 10, score out of 100*)
Payment Flexibility Features of Top US Cash-Back Credit CardsRedeeming Rewards Feature Rank and Score of Top US Cash-Back Credit Cards (rank out of 10, score out of 100*)
Redeeming Rewards Features of Top US Cash-Back Credit CardsAdvanced Digital Feature Rank and Score of Top US Cash-Back Credit Cards (rank tout of 10, score out of 100*)
Advanced Digital Features of Top US Cash-Back Credit CardsGlossary (US Cash-Back Credit Card Emerging Features Benchmark 2023)
Demographic Summary of Respondents, US Cash-Back Credit Card Emerging Features Benchmark 2023, July 2023 (% of total)

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authors

David Morris

Contributors

Chris Keating
Director, Research
Na Li
Director, Primary Research
Tiffani Montez
Principal Analyst, Banking
Jennifer Pearson
VP, Research