UK Money News
16th July 2008
Britons shunning credit card reward schemes
Britons are failing to claim benefits of credit card reward schemes, a new survey has discovered.
According to a poll conducted by Sainsbury's, of the 8.19 million people who have accrued reward points over the last 12 months, just 3 million have claimed them.
The principal reason cited for leaving them unclaimed was that the rewards were too small – a factor cited by 42 per cent of respondents.
The length of the claiming process, meanwhile, led 24 per cent of people who shun their benefits.
Donald MacLeod, head of cards at Sainsbury's said: "Our research shows that the credit card industry has a lot of work to do if customers are really going to feel that their reward schemes are worth having.
"There is no point offering them if there is no perceived value or if it is too difficult to redeem the rewards."
Sainsbury's credit card offers Nectar points equivalent to two per cent cash-back on all purchases made in its stores.
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