Despite only one third of credit card companies offering perks to account holders, Brits are
increasingly looking to be rewarded for using their card. That’s the findings of a new survey from
Sainsbury’s Finance that has found that more and more credit card holders want to be rewarded for
spending on their card.
More Brits are shopping around to find credit card rewards
The Sainsbury’s Finance survey found that nearly a third of credit card customers wanted to be
better rewarded for using their plastic. And, people are more prepared to shop around to find a
more rewarding credit card.
The research found that over 8.5 million Brits intend to apply for a new credit card in the next year,
proving that shopping around for new credit and switching credit card providers is commonplace.
Just one in three cards offer rewards
Whilst some credit cards offer a variety of rewards, from cash back to Air Miles and store vouchers,
others have no such rewards programme. The Sainsbury’s survey found that only a third of all credit
cards on offer in the UK had any form of loyalty scheme.
Stuart McKeggie from Sainsbury’s Credit Cards said, “We’re encouraged by the sign that more of us
are shopping around for a credit card that rewards our custom.
“But with so many different cards to consider, it’s easy to become overwhelmed. When you’re
looking for a card, the most important thing is to choose a card that gives you the maximum benefit
for your particular card usage.”
Consumers are urged to shop around to find the rewards deal that best suits their spending.
Remember also that maintaining a balance and paying interest charges on a rewards credit card is
likely to significantly outweigh the value of the rewards you are receiving.
