Londoners are leading the field when it comes to redeeming money on their credit card reward schemes, according to the latest figures.
Research from credit card specialist Goldfish has found that spenders from the capital who made use of the reward element of their credit cards over the past quarter typically received £349 in retail discounts and other deals.
By way of comparison, people in Scotland claimed an average of £77, while those in the north of England lagged behind other regions with an average of £49 redeemed during the period.
And it appears that the majority of credit card holders may be redeeming in order to fund another shopping expedition, with 47 per cent of all UK reward cards offering retail discounts, while 19 per cent providing cash back services.
"Credit card reward schemes are a great way for cardholders to be rewarded for everyday spending, but there is no point in having one if customers do not redeem their points," remarked Patrick Muir, marketing director of the credit card provider.
Last week, credit card customers were also reminded that they may receive complimentary travel insurance cover if they book part of their holiday on plastic.
Approximately 75 per cent of credit card deals include a travel insurance element for accidental injury, according to financing website MoneyExpert.
News Side
London's reward credit card customers redeem the most, statistics reveal
Mon, 05 Mar 2007
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