Shoppers advised to use reward cards
16/12/2005
British shoppers have been advised to consider choosing a credit card which doubles up as a store card, in order to take advantage of the benefits they offer.
It has been revealed by a study conducted for the M&S &MORE credit card that 55 per cent of British cardholders always pay off their monthly bill in full.
M&S is surprised therefore that more customers choose a credit card due to its low rate, which is less important for consumers who regularly pay off their balance, than those who pick a card because of the perks or loyalty points it offers.
It was found that 32 per cent of cardholders cite a low interest rate as their priority, while only 24 per cent choose a card which has the most beneficial perks.
The average amount spent on a credit card is £103 a week, which could earn a cardholder £53 in reward vouchers a year.
"With so many people paying off their balance in full each month it's surprising more people don't look for ways to get something back from their spending," remarked David MacKay, commercial director at M&S money.
"Using a credit card with loyalty rewards can help you save while you spend," he added.
Loyalty rewards can especially be accumulated during the festive period, as average credit card expenditure rises.
It has been revealed by a study conducted for the M&S &MORE credit card that 55 per cent of British cardholders always pay off their monthly bill in full.
M&S is surprised therefore that more customers choose a credit card due to its low rate, which is less important for consumers who regularly pay off their balance, than those who pick a card because of the perks or loyalty points it offers.
It was found that 32 per cent of cardholders cite a low interest rate as their priority, while only 24 per cent choose a card which has the most beneficial perks.
The average amount spent on a credit card is £103 a week, which could earn a cardholder £53 in reward vouchers a year.
"With so many people paying off their balance in full each month it's surprising more people don't look for ways to get something back from their spending," remarked David MacKay, commercial director at M&S money.
"Using a credit card with loyalty rewards can help you save while you spend," he added.
Loyalty rewards can especially be accumulated during the festive period, as average credit card expenditure rises.
