Purpose - This research attempts to analyze the impact of demographical factors and credit cardholder's criteria of clients on their credit card spending to investigate how the total spending affects accumulation of loyalty points of cardholders to after the introduction of a loyalty program. Design/methodology/approach - This study relies on a sample of 477 credit cardholders active on the bank's loyalty program over a period of 2 years. This research is deductive and quantitative in nature, and it tests 15 hypotheses linking the demographical factors and cardholders' characteristics to ...