Regulators Alarmed—Billions in Card Perks Wasted

Stacked Visa credit cards in various colors

Every year, travelers leave hundreds of dollars in value untouched—not because perks aren’t available, but because they simply forget to use them.

Story Snapshot

Cardholders consistently neglect three high-value travel card perks: Global Entry/TSA PreCheck credits, no foreign transaction fees, and concierge services.
This underutilization persists despite aggressive marketing and digital innovation by issuers.
Unused perks represent lost savings for consumers and wasted marketing dollars for banks.
Industry experts call for stronger consumer education and regulatory action to close the awareness gap.

Why So Many Travelers Miss Out on Valuable Card Benefits

From the rise of the Chase Sapphire Reserve to the glitzy marketing of American Express Platinum, travel card issuers have spent the last two decades in a perks arms race. Yet, even as the industry delivers ever-richer features, a surprising portion of cardholders never activate statement credits for trusted traveler programs like Global Entry and TSA PreCheck. These programs, which can slash airport wait times to mere minutes, remain unused by many—despite being prominently advertised with new cards. Analysts suggest that the problem isn’t a lack of value but rather a disconnect between what’s offered and what consumers actually understand or remember to claim.

Concierge services, another hallmark of premium travel cards, represent perhaps the most overlooked benefit in the modern wallet. These digital and phone-based platforms can secure hard-to-get dinner reservations, book show tickets, or even help in travel emergencies. Yet cardholder surveys routinely show single-digit utilization rates. This is not for lack of effort by issuers, who have transformed concierge offerings from clunky call centers to sleek app-based interfaces. Instead, the culprit appears to be awareness: many travelers simply don’t know these services exist, or assume they are too exclusive for their use. The economic impact is staggering—millions in potential value left on the table each year, with both banks and consumers missing out on the intended rewards of loyalty.

The Economic and Behavioral Forces Behind Perk Underutilization

No foreign transaction fees are a third critical benefit that routinely goes unleveraged, particularly by occasional travelers. For years, banks have trumpeted these savings, yet a significant share of cardholders still pay 2-3% fees abroad by using the wrong card. This oversight often stems from complexity: many have multiple cards, each with different rules, and forget which to use when. The result is an invisible tax on travel—one that savvy cardholders could easily avoid. The Points Guy and NerdWallet have both highlighted that simply using the right card internationally can translate into hundreds in annual savings, yet utilization rates remain stubbornly low.

Behavioral economists and industry analysts agree that the root of the problem lies in information overload and the cognitive hurdles of benefit activation. Even as issuers invest in digital notifications, app reminders, and clearer statements, the sheer volume and conditionality of perks can overwhelm even the most diligent traveler. The industry’s own research shows that simplifying redemption processes—such as making credits automatic rather than opt-in—dramatically increases usage. Some banks have begun to experiment with annual benefit summaries and proactive prompts, but these fixes have yet to become standard practice.

The Push for Greater Transparency and Consumer Empowerment

Consumer advocates and regulators are watching closely. The Consumer Financial Protection Bureau has signaled interest in requiring issuers to provide annual reports detailing which perks a cardholder has used—and which remain untapped. Such transparency, experts argue, would empower travelers to claim what they’ve earned and force issuers to streamline benefit access. Meanwhile, leading personal finance outlets continue to publish guides and reminders, underscoring that the path to maximizing card value often starts with simple awareness. The chorus of expert voices is growing: don’t let the bank keep what’s rightfully yours.

The stakes are not trivial. In the short term, travelers who activate forgotten perks enjoy smoother journeys and fatter wallets. Over the long horizon, greater engagement could reshape the travel card landscape—prompting issuers to innovate further, or perhaps to pull back on overly generous benefits if usage climbs too high. The broader travel industry, from airports to hotels to experience providers, stands to gain from happier, better-prepared customers. As digital tools and regulatory scrutiny increase, the era of forgotten travel card perks may finally be coming to an end. For now, the savviest travelers are those who know—and use—every benefit at their disposal.