New reward credit card scheme planned - Credit cards - News - Moneyfacts


New reward credit card scheme planned

New reward credit card scheme planned

Category: Credit cards

Updated: 13/03/2009
First Published: 13/03/2009

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Plans are in place for a new reward credit card scheme to be launched in the UK, it has emerged.

Barclycard confirmed that it is considering an initiative that would immediately provide benefits at participating stores.

It intends to link the 89,000 retailers that use its payment systems with its 11.7 million credit card customers, with rewards having monetary value rather than relying on a points system.

Chief executive of Barclaycard Antony Jenkins explained that many people currently do not reclaim points accumulated through reward credit cards and other incentive schemes, adding that the firm's offering is intended to be more relevant.

"I envisage shoppers getting rewarded at a vast range of our retailers, from a local store on the high street, to major chains, and from online shopping to a takeaway or restaurant," he said.

Abbey recently suggested that consumers struggling as a result of the economic downturn use a reward credit card for food shopping, in order to help their money go further.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Reward credit cards that become ‘pointless’

If you regularly use cards to pay at the till, you may have considered opening a reward credit card to earn points every time you spend. However, not all of these cards are as rewarding as they may seem…

It’s looking to be a credit Christmas

We are now less than 70 days away from Christmas, and with 70% of people admitting they haven’t started saving yet, millions will be needing to play catch-up - and plenty planning to turn to credit for some Christmas spending relief.

Can no credit score be as damaging as a bad one?

Debt is becoming an increasing problem, which is why those who have no credit commitments often feel pretty smug about it. However, while not relying on credit is admirable, having no credit score can actually be just as damaging as having a bad one.