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Credit card reward schemes are 'worthwhile'
17 July 2008
Consumers will benefit from credit card reward schemes as long as they redeem the points, claims Sainsbury's Finance.
Research by Sainsbury's Bank revealed that less than half of people who collected credit card reward points redeemed them during the last year meaning that many people are not taking advantage of the rewards on offer.
Donald MacLeod, head of cards at Sainsbury's Finance, said: "You go into it thinking you're going to get all these points but make sure you redeem them because they're worth it."
While 40 per cent of people said they "could not be bothered" to redeem credit card reward points, they should seek another credit card product that meets their needs, according to Mr MacLeod.
"If you're the kind of person who finds redemption awkward and tricky, then what you really want to do is find a process that's much more straightforward," said Mr MacLeod.
According to Sainsbury's Bank, 23 per cent of people said they did not know how to use their rewards.
