Credit Card Rewards Statistics: Who Earns the Most Points?

Americans earned $41 billion in credit card rewards in 2022, but redeemed just $35 billion. Just over half of those rewards came in the form of points. That year, the average cardholder with a superprime credit score had over $200 in rewards, while subprime users had just $26 and forfeited rewards at twice the national average, according to the Consumer Financial Protection Bureau (CFPB).

Whether you're new to rewards programs or comparing the best credit cards, the stats below show who's winning the points game, and who's missing out.

How many credit card rewards are earned and redeemed each year?

Americans earned $41.4 billion worth of credit card rewards in 2022 and redeemed $35 billion.

The most popular type of credit card rewards earned were points, which accounted for $21 billion. Cash back made up $15.2 billion and miles composed the remaining $5.2 billion, according to CFPB.

Here's the total value of credit card rewards Americans have earned each year since 2019 by reward type.

Cardholders with a prime plus or superprime credit score were responsible for 82% of all credit card reward redemptions worth $28.3 billion, according to CFPB.

Credit card holders with a credit score in the prime range redeemed $4.2 billion worth of rewards and those with below-prime credit scores cashed in $2 billion in 2022.

Those with higher credit scores are likely spending more on their credit cards and using cards that could have more competitive rewards structures. As a result, they redeem the majority of rewards among all cardholders.

Rewards redeemed grew by over $10 billion from 2019 to 2022.

What percentage of credit card spending is put on rewards cards?

Approximately 91% of credit card spending was done on rewards cards in 2022, according to CFPB. Rewards card usage jumps as credit scores improve: 93% of credit card purchases from Americans with a superprime credit score were made on rewards cards compared to 66% for those with a deep subprime score.

Rewards card usage has grown across all credit score tiers from 2015 to 2022, including being up 19 percentage points for deep subprime cardholders.

What's the average credit card rewards balance?

The average credit card rewards balance was $156 at the end of 2022. That jumps to $216 for Americans with a superprime credit score and plummets to just $26 for subprime and deep subprime card holders.

The significant difference in rewards held by those with high and low credit scores is a reflection of those with high credit scores having access to credit cards with more lucrative rewards and also spending more on their cards.

Overall, credit cards rewards balances have grown steadily across all credit tiers in recent years.

How many credit card rewards are forfeited each year?

Almost 4% of credit card rewards went unused and expired at the end of 2022, per CFPB. Subprime and deep subprime cardholders forfeited 7% of their rewards, double the overall average.

Superprime cardholders forfeiture hovered around 4%, and is consistently higher than rates of near-prime, prime, and prime plus card holders.

The result? Billions of credit card rewards go unused every year.

The table below shows credit card rewards forfeiture rates by credit score.

How to make the most of your credit card points

Credit card rewards can be valuable, but only if you redeem them. Americans forfeit billions in points, cash back, and miles every year.

If you're looking to maximize your rewards, consider cards with strong points systems, clear redemption options, and low expiration risk. Look for cards that fit your shopping habits, like a gas and grocery credit card or travel card. If done right, you'll be putting your hard-earned cash back into your wallet with every swipe.