Consumers ‘not claiming’ card rewards

A high number of consumers are not claiming rewards on their credit cards, according to figures released by Sainsbury’s.

The organisation said that in the past year 8.19 million consumers have generated such rewards through schemes, just three million have followed up and claimed them.

Many people do not believe that the bonuses are large enough, Sainsbury’s Credit Cards stated, with 42 per cent holding this view.

Furthermore, 27 per cent claimed that the whole process is too long-winded and this is why they do not bother.

Head of cards at Sainsbury’s Donald MacLeod said that extra work is needed by service providers if matters are to be simplified.

“Our research shows that the credit card industry has a lot of work to do if customers are really going to feel that their reward schemes are worth having. There is no point offering them if there is no perceived value or if it is too difficult to redeem the rewards,” he commented.

The same firm also recently urged consumers to look around for the best savings accounts available to them.

© Adfero Ltd

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