Sainsburys Bank is supporting the use of reward schemes for credit card customers, saying they can help save money.
With over 8 out of 10 credit card users saying they will probably be spending less than last year on their cards the providers are looking at ways to incentivise their customers to use them, and reward schemes have proved very successful. The Nectar scheme is typical of the new approach to customers say Sainsburys Bank. Such cards provide real benefits to users, with the ability to save money on other items they use in their lives and ultimately reducing their costs.
The other point about reward schemes said the Sainsburys Bank spokesman is that they differentiate the credit card from many others. The usual 0 percent interest offers are everywhere so something different and real is the best way to attract users.
The Halifax has announced a new credit card called the All in One card, with an introductory offer to both new and existing Halifax customers of 11 months interest free balance transfers and card transactions.
Customers can get the bonus if they get the credit card before 21 September and put at least GBP1,000 per month into their Halifax current account. When the zero percent offer is finished the card will have a typical interest rate of 15.9 percent with no additional fees to pay.
A spokesman for the Halifax felt that customers taking up the offer could find themselves savings several hundred pounds in interest savings and therefore expected the credit card to be very popular.
Football supporters are being advised by the Abbey National that credit cards that are affiliated to clubs could cost consumers more than regular cards.
Taking the recent Manchester United versus Chelsea Champions League final as an example, Abbey National found that supporters heading for the match would face foreign exchange fees of between 2.75 and 3 percent on a football club affiliated credit card. The Abbey National credit card charges no fee for foreign exchanges, as well as no fees for balance transfers or cash advances either.
As the Managing Director of Abbey National credit cards said, It can be nice to have a credit card that is associated with your favourite football club, but there are costs associated with them that other cards do not charge.
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