Sainsburys Bank believes that credit card users are not claiming the rewards being earned through loyalty point schemes, ultimately costing themselves money.
Looking at the last year the Sainsburys Bank study found that, of over 8 million earned rewards on their credit cards. However only 3 million people claimed their rewards. The biggest reason cited for not claiming was that the value of the reward was too small, this being the reason for over 40 percent. Over a quarter of people felt the process to get the rewards took too long and just under a quarter said it was too difficult.
A Sainsburys Bank spokesman suggested that credit card companies should look addressing these issues since both card provider and consumer would both benefit.
A new Saga Insurance credit card, called the Platinum Visa Card, has just been launched which is set to offer a fair deal to Saga customers.
One of the biggest factors with the new Saga Insurance card is that transactions are ordered so that the most expensive to repay amounts are cleared first, something few other card providers offer. Furthermore there will be no currency charges for any transactions made in what is called Visa Europe. This includes the EU plus some others.
There is also the usual credit card offer included by Saga Insurance, namely 0 percent on balance transfers and purchases for 6 months. All in all this new credit card can save customers a great deal of money and is sure to be a resounding success.
The changing face of our planet has brought interest in environmental issues very much to the fore, and nowhere more so than in the world of credit cards. Customers are looking to do something for the greater good in every aspect of their life now, which is why there is now a Co-op credit card that helps do just that.
The Co-op Think credit card donates 25 pence from every GBP100 spent to Cool Earth, an environmental charity that works to help regenerate the planet. Also, upon signing up for the card, the Co-op buys half an acre of rain forest in Brazil that will be protected and help manage carbon dioxide.
The Think credit card from the Co-op is also competitive financially, with an Annual Percentage Rate of only 12.9 percent. Ultimately a credit card should best suit financial requirements first, taking care of other matters are secondary. However this new Co-op credit card appears to have both bases covered.