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RETAIL reward credit cards offer rewards with a particular store or retail company. What you can redeem points for can be for certain products through the reward scheme or for money off vouchers to spend as you wish in store.
The range of stores and retail companies offering a retail reward credit card vary dramatically in the types of products or services they sell.
As such, the types of rewards you can earn with a retail reward credit card can be anything from money off your phone bill with BT to money off a new car and almost everything in between!
What rewards can I choose from?
To see a complete list of all the retail reward credit cards available and the rewards they offer, please compare retail reward credit cards here.
The best buy retail reward credit card offers rebates on your spending that can be used towards buying a new Vauxhall or Saab car. Voted the best retail reward scheme in the UK – the GM Card has been at the top of the comparison tables for several years now.
However, not everyone wants to save up to buy a car - and not everyone wants to buy a Vauxhall or Saab car either.
If you're into money saving there are a number of retail reward credit cards that will offer points that can be used back in store for money-off vouchers or automatic rebates on your bill.
The retail companies offering money-off or bill rebates include:
- Tesco Clubcard (grocery shopping)
- Citi Shell (Shell fuel: petrol or diesel)
- Nectar (grocery and other store shopping)
- BT (BT phone bill)
If you want to earn points for free rewards, the following cards will offer points that can be redeem for products or for gift vouchers to spend in store:
- iTunes Music Downloads
- Amazon (gift vouchers)
- Tesco Clubcard (range of different rewards)
- Nectar (range of different rewards)
- GM Card (money-off Vauxhall or Saab cars)
- MBNA (range of different rewards)
Choose the best retail reward credit card and make the most of it
It is important to remember that while retail reward credit cards offer a choice of rewards that can prove valuable this type of credit card itself is not the ideal choice of plastic for everyone.
For example, if you tend to spread the repayments on your credit card balance then the interest that you are charged on your spending is likely to far outweigh any money saved from earning rewards. Therefore you will save more money by choosing a 0% purchase credit card or a simple low interest rate credit card instead.
But if you do repay your balance in full each month then you are most suited to carrying a reward credit card and you will get to enjoy the rewards you earn without subsequently paying for them in interest charges.
Remember though, you should still compare the different retail rewards credit cards on offer in order to find one that offers something you will really use and benefit from.
Also remember that how many points or how many rewards you can earn per pound spent on the card will also vary from card to card.
Don't forget - often retail reward credit cards will offer extra points when you spend money in a particular store - so maximise on the bonus points by always using your retail reward credit card to pay for purchases in any named store.
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