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Reward credit card makes sense in current climate

Reward credit card makes sense in current climate

Category: Credit cards

Updated: 19/11/2008
First Published: 19/11/2008

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 It is now over 6 months old so the content may be out of date.

The majority of credit card holders are missing out on the benefits that can come with a reward credit card, it has been found.

Research by American Express has revealed that just 45 per cent receive anything in return for their spending.

Those who have at least one reward credit card primarily choose one offering cashback (41 per cent).

And with more than half of Brits being shown to be cutting back on expenditure this Christmas, American Express advised consumers to consider ways to get a return on their spending.

"In the current environment it makes sense for people to look for ways to make their money go further," said vice president of UK lending Tom Allder, noting that those who choose a reward credit card now will receive their annual cashback "just in time to pay for next Christmas".

Last month Mr Allder urged consumers to consider reward credit cards over debit cards for payments, as they could earn hundreds of pounds of cashback each year.

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