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News from Sainsbury's Credit Cards: Number of reward scheme credit cards has dropped

There are now fewer credit cards with reward schemes, according to research by Sainsbury's Credit Cards.

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12 August 2009

News from Sainsbury's Credit Cards: Number of reward scheme credit cards has dropped”

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There are now fewer credit cards with reward schemes, according to research by Sainsbury's Credit Cards.

According to the credit card provider, the proportion of cards with reward schemes is now 66.8%, compared to 78.2% a year ago, a drop of over 11%.

The nature of the rewards is also changing, according to Sainsbury's Credit Cards, with the number of cards with shopping rewards or cash back reducing as the number with Air Mile points increases.

Craig Hunter at Sainsbury's Credit Cards, said: "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."

Meanwhile, Sainsbury's Finance has recently launched a new Internet Saver offer that pays a rate of 2.9% gross AER variable to customers opening an account with a deposit value between £1,000 and £500,000.

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Credit Cards	0% Balance Transfers	0% Purchases	APR Representative (Variable)
	Tesco ClubCard Credit Card
	9 months	15 months	16.9^%
16.9% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.9% p.a(variable).
	Virgin Credit Card
	20 months	3 months	16.8^%
16.8% APR representative (variable). Based on a credit limit of 1200 and purchase rate 16.8% p.a(variable).
	Barclaycard Platinum with BT
	22 months	3 months	17.5^%
17.5% APR representative (variable). Based on a credit limit of 1200 and purchase rate 17.5% p.a(variable).
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