More people have a cashback or reward credit card than a zero percent card now, according to Morgan Stanley. Now just 17% of cardholders have a 0% offer. 21% have a credit card offering cashback and 30% use cards offering points rewards. Obviously free money with 0% interest just isn’t good enough for you people!
Seriously though, the real reason for this is probably the greater fees that we are charged on 0% cards these days. I hope also that it’s because people are using their cards more sensibly; by paying off the balance every month they can get points or cashback on their purchases without paying any interest….
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