Credit Card Rewards Statistics: Who Earns the Most Points?

Americans earned $47 billion in credit card rewards in 2024 and redeemed $43 billion. Just over half (51%) of those rewards came in the form of points, according to the Consumer Financial Protection Bureau (CFPB). Rewards balances averaged $192 at the end of 2024 and the average value of awards earned that year was $311. Despite that, 2.8% of credit card rewards were forfeited in Q4 2024.

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 used credit cards to earn $47 billion worth of rewards in 2024 and redeemed $43 billion. Credit card rewards earned have nearly doubled since 2020.

The most popular type of credit card rewards earned was points, which accounted for $23.9 billion. Cash back made up $16.6 billion and miles composed the remaining $6.6 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 (660-719) or superprime (720+) credit score were responsible for 82% of all credit card reward redemptions worth $35.1 billion, according to CFPB.

Credit card holders with a credit score in the prime range (660-719) redeemed $5 billion worth of rewards and those with below-prime (less than 660) credit scores cashed in $2.9 billion in 2024.

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

Rewards redeemed grew by $20 billion from 2019 to 2024.

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

92.3% of credit card spending was done on rewards cards in 2024, up from 84.6% in 2015, according to CFPB. Rewards card usage jumps as credit scores improve: 93.9% of credit card purchases from Americans with a superprime and prime plus credit score were made on rewards cards compared to 72.5% for those with a deep subprime score.

Rewards card usage has grown across all credit score tiers from 2015 to 2024, including being up 25.6 percentage points for deep subprime cardholders.

What's the value of the average credit card rewards balance?

The average credit card rewards balance - the value of rewards - was $192 at the end of 2024. That jumps to $257 for Americans with a superprime credit score and plummets to just $33 for subprime and deep subprime cardholders.

The significant difference in rewards between those with high and low credit scores reflects the fact that those with high credit scores have access to credit cards with more lucrative rewards and also spend more on their cards.

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

How many credit card rewards are forfeited each year?

2.8% of credit card rewards went unused and expired at the end of 2024, per CFPB. Subprime and deep subprime cardholders forfeited 7.1% of their rewards, more than double the overall average.

Superprime cardholders rewards forfeiture held at 2.2%, essentially in line with the 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.