Nearly 1 in 4 cardholders — 23% — did not redeem any rewards at all in 2024, according to a new survey by Bankrate.
"Large credit card issuers too often play a shell game to lure people into high-cost cards, boosting their own profits while denying consumers the rewards they've earned," CFPB Director Rohit Chopra said in a statement. "When credit card issuers promise cashback bonuses or free round-trip airfares, they should actually deliver them."
"As the CFPB's own research shows, credit cards are — by far — the best tool for the one-fifth of Americans that lack access to credit to begin building their financial lives," Johnson said.
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