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Credit card rewards 'difficult to claim'
17.07.2008
Many consumers are not claiming rewards under credit card loyalty schemes because they believe they are too difficult and time-consuming to obtain, according to an industry insider.
The head of cards at Sainsbury's Finance said redeeming the rewards can be "more trouble than it's worth".
Donald MacLeod also pointed out that it can take some time for customers to actually receive the money in cash-back schemes.
Referring to the various problems consumers may experience, he added: "It may either take a while before you get the vouchers or it's just too difficult and awkward [and that] people are just thinking they haven't the time or energy to do that."
He suggested people should opt for a card offering a more straightforward reward incentive on which it is easier to claim.
Earlier in the week, credit card-holders were advised by Skipton Financial Services to switch debts to a card with a zero per cent rate in order to bring down outgoings.
The head of cards at Sainsbury's Finance said redeeming the rewards can be "more trouble than it's worth".
Donald MacLeod also pointed out that it can take some time for customers to actually receive the money in cash-back schemes.
Referring to the various problems consumers may experience, he added: "It may either take a while before you get the vouchers or it's just too difficult and awkward [and that] people are just thinking they haven't the time or energy to do that."
He suggested people should opt for a card offering a more straightforward reward incentive on which it is easier to claim.
Earlier in the week, credit card-holders were advised by Skipton Financial Services to switch debts to a card with a zero per cent rate in order to bring down outgoings.