Credit Card News Brits Loyalty Losses Worth Millions 17306865

Brits loyalty losses worth millions

11 July 2006
According to a new study by credit card provider GM, one in five credit card holders admit allowing their loyalty points schemes or cashback options to expire before claiming them.

Figures show that in total Britons are wasting around £125 million each year by not claiming on loyalty offers, even though around a quarter of those questioned said they preferred to use cards that offered some form of loyalty reward scheme.

Nine out of every ten consumers questioned said they had some form of card with a loyalty scheme and eight out of ten of these consumers felt they were missing out on up to £50-worth of bonuses each year.

“‘It’s incredible that, as a nation, we are losing out on rewards and bonuses that we have earned through our loyalty, especially when it is so simple to cash in,” said GM Money’s Helen Parker.

“‘Loyalty and reward schemes are a fantastic way to earn bonuses but only if users bother to recoup them,” she added.

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Written by Editorial Team