American Express Survey on Fiscal Fitness
Survey shows Americans need to improve financial / fiscal fitness…
Surveying 2,025 American adults, 18 years and older, a recent American Express survey shows that improving financial / fiscal fitness is just as important as physical fitness in 2008. Of the respondents, 89% said physical fitness was a priority this year. But 88% said that it was just as important for them to improve their financial well-being. One of the major weaknesses the American Express survey found, was that many people are not taking full advantage of their credit card benefits.
A recent J.D. Power and Associates Study indicated that credit card benefits and services have an important impact on consumer satisfaction. Not only can consumers save money by taking advantage of special credit card features, but they can protect themselves from fraud, access insurance, earn rewards and more. However, the American Express survey reveals more than half - 51% - of U.S. adults do not think they are not reaping the full benefits of their credit card(s). Here’s were repondents felt they needed improvement:
- 48% - Reward programs
- 40% - Account protection and identity theft
- 35% - Buyer protection plans
- 29% - Travel benefits and services
- 21% - Insurance (car rental, travel accident)
“Our survey reveals that U.S. cardholders are not taking full advantage of or do not know the full extent of the benefits and features on their cards,” said Larry Sharnak, Executive Vice President and General Manager at American Express. “American Express is committed to helping Cardmembers understand the valuable benefits and features of their Card, while at the same time providing them with the resources to make sound choices for their fiscal fitness.”
In an effort to educate its Cardmembers about making the most of their card, American Express offers many educational tools and programs. Cardmembers can log-on to American Express’ Consumer Resources website at americanexpress.com/consumerresources or take advantage of their Global Assist Hotline® 24 hours a day. Other issuers have similar programs available, so make sure you educate yourself and take full advantage.
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