Rewards-related offerings are the leading driver of consumers’ credit card choices — but they can be pricey for issuers

This is a preview of a research report from Business Insider Intelligence, Business Insider’s premium research service. To learn more about Business Insider Intelligence, click here.

BI Intelligence

The average US consumer holds about three nonretail credit cards with a balance over $6,000, according to Experian. As confidence rises, spending is hitting prerecession levels. For banks, that should be a good thing, since credit cards are profitable. But the push to attract a particularly interested and engaged customer base through sign-up bonuses and lucrative rewards offerings has led banks into a rat race, with surging expenses and rising delinquencies that are hurting returns.

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