Consumers often unaware of credit card rewards benefits

A new study that analyzed how consumers accumulate and redeem rewards points they accrue on their credit cards reveals finds that these individuals are often missing out on discounts, particularly during the holiday season.

According to the Capital One survey, approximately 75 percent of consumers polled said they were unaware that their credit card company offered special deals for sales events, such as Black Friday.

Amy LeLander, vice president of rewards programs for Capital One, said many credit card companies allow consumers to take full advantage of their rewards program offerings on days where buying activity is high.

"There are some serious rewards opportunities available during the holidays that can give you even more value," said LeLander. "To get the most out of your rewards program, card holders should check with their card issuer to see what kind of special promotions they are offering."

While consumers are informing themselves about the rewards policies of their credit card providers, they may also want to inquire about penalties. Inaccurate or unfair marks left by creditors may lead to higher fees if not addressed and corrected.