Millennials Say Sharing Credit Card Rewards Is a “Relationship Perk”

Millennials Say Sharing Credit Card Rewards Is a “Relationship Perk”

February 6, 2019         Written By Lynn Oldshue

First comes love. Then comes marriage. Then comes…shared credit card rewards?

In honor of Valentine’s Day, Wells Fargo conducted a study to see how Millennials view credit card rewards within their relationship. Nearly half (45%) of Millennials in relationships said they would add their partner as authorized user to earn more credit card rewards.

The rewards are such a driving force that many Millennials are offering to pay for shared meals to earn more points. Forty-eight percent say they don’t mind paying for meals if they can earn rewards, and 34% have insisted on paying to rack up their loyalty points.

Sixty-four percent of Millennial couples said sharing rewards points was a “perk” of dating, and 59% planned to save their points for doing something special together. This most often includes traveling, with 74% planning to vacation as a couple in the next year.

The desire to share points and travel may not be limited to Millennials, but they have a much stronger interest than those in older generations. A survey last June showed that travel points made up 90% of the conversations Millennials had about credit cards. Older generations had 30% less interest in travel points, with a stronger desire for cash back and brand-specific rewards.



The information contained within this article was accurate as of February 6, 2019. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


lynn-oldshue

About Lynn Oldshue

Lynn Oldshue has written personal finance stories for LowCards.com for twelve years. She majored in public relations at Mississippi State University.
View all posts by Lynn Oldshue
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