Rewards, Rewards, Rewards

Reward schemes, also known as loyalty schemes, offer such things as points or AirMiles based on how much you spend. These are popular with credit card consumers, and are said to be second only to interest rates as the reason people select a particular card. There are also opportunities to get  a ‘double whammy’ with some cards, for example Tesco Clubcard, Nectar Card or the Boots Advantage Card – using the store loyalty card as well as a loyalty credit card.

People fell they’re getting something extra with loyalty cards, and they can offer good value and some have a zero percent introductory period as well. However, it is not sensible to buy more, just to earn extra reward points.

Here we take a look at some of the rewards credit cards available.

First up is the MBNA Points Credit Card. This offers 1 point for every £1 you spend. Points can be redeemed on flights, vouchers, holidays, or days out. It also comes with a 0% balance transfer interest for nine months, but there is a 3% balance transfer fee. Very interestingly, there are also nine months interest-free on purchases. Typical APR is 15.9%. You can use use any travel agency and redeem points for an “endless” choice of flights, hotels, package holidays, city breaks and car hire. You can also pay partly with points and partly with cash. You can buy goods from DVD players, televisions to family treats. High Street shops taking points for vouchers include Selfridges, John Lewis, Boots, Halfords, WHSmith and Debenhams, plus many more. If you fancy some win, you can pick from a selection of handmade estate wines from around the world. All the wines are sourced by expert wine buyers at the UK’s largest independent wine specialist. You can even exchange your points for straight cash. There’s also a bonus of 2000 points if you make a card purchase within 90 days from the date your account is opened.

The Amazon.co.uk Credit Card offers 1 loyalty point for every £1 spent at Amazon, 0.5 points for £1 spent elsewhere. £15 Amazon.co.uk gift certificate for every 1,500 points. As Amazon sells just about everything, this is a pretty good deal. This also has an interest-free period of nine months  for balance transfers, with a 3% balance transfer fee, and a £3 minimum transfer fee. This also has an interest-free period on purchases, but it’s slightly less at six months. Typical APR is 15.9%.

The MBNA Rewards American Express Card offers the 1 point for every £1 you spend as the MBNA Points Credit Catrd, with access to the same range of goods and services. It also comes with a 0% balance transfer interest for nine months, but there is a 3% balance transfer fee. Here, there are also three months interest-free on purchases. Typical APR is 15.9%. The card gives the exclusive benefits that come from being an American Express Cardmember. Exclusive Cardmember and VIP travel services including discounts with Habitat, MacDonald Hotels and Resorts and other partners world wide. 

Lloyds TSB and AIRMILES have combined to come up with a Lloyds TSB AIRMILES Duo Credit Card Account, making it easy for people to collect Airmiles every time they spend. The Duo card provides a ‘two in one’ account: it has a single APR (15.9%), a single monthly statement, a single PIN, but two credit cards: American Express and Mastercard. This gives a better chance of gaining Airmiles on your account. There is no annual fee, and no minimum spend, and the Airmiles are double those on offer with the previous NatWest card. Now you earn one mile for every ten pounds spent. You can use Airmiles to fly, travel on Eurostar, on the Orient Express, or to book cruises, ferries, or even UK country cottages and days out. This included cheap short and long haul flights with British Airways and 110 other scheduled airlines. You can use miles for Premium travel, for example to buy a flight to New York on the luxurious BA Club World for 11,600 Airmiles plus taxes. Days out include the London Eye, Legoland, hot air balloon trips, the British Grand Prix, Ferrari drive days, surfing lessons in Newquay amongst others. AIRMILES also offers a wide range of travel rewards with 25,000 world-wide hotels, cruises, travel insurance, car hire, package holidays and UK. AIRMILES guarantees to match prices in its brochure holidays. In addition, customers booking with AIRMILES will have no credit card charges or booking fees.

The Virgin Money Credit Card gives you instant discounts all over the shop. You can get money off your holidays, wine, music, DVDs, car insurance. The APR is 15.9%, and there is an interest-free period of 13 months on balance transfers, with a 2.98% balance transfer fee. There are also three months interest free on purchases.