Research: UK rewards cards dwindling

Proportion of rewards cards falls 11%

By UK.CreditCards.com

An 11% decline in the proportion of credit cards offering rewards to customers has been identified by one provider.

Research says rewards dwindlingSainsbury's credit cards found that just 18 cards offered air miles to customers in June 2009 -- an increase of just one product in three years.

In addition, the supermarket discovered that there had been a drop in the number of cards allowing cardholders to claim cash back.

This general decline in rewards from credit cards was attributed to the high uptake of such schemes in recent years.

Craig Hunter of Sainsbury's said that many people are reassessing their finances as a result of the recession and that it is "great" that so many are taking advantage of the rewards that come their way.

"Those with cards that offer no or poor rewards should ensure they get the best bang for their buck and shop around to make sure any reward scheme they sign up to suits their lifestyle and spending habits best," he added.

Published: 13 August 2009