How to Compare Retail Reward Credit Cards

Retail Reward Credit Card Best Buys Retail Reward Credit Card FAQ's Have a question? Send in your question and we'll do all we can to help answer it. Where appropriate user questions will be added to the FAQ's for future use. Most recent questions: Which shops offer retails rewards credit cards? Are retail reward credit cards the same as store cards? More frequently asked questions »

Retail reward credit cards offer you the chance to start earning free rewards on your credit card spending. Rewards can offer money-off products, free products, free services and savings and discounts.

These cards are best for...

Retail reward credit cards are best suited to anyone who wants to earn retailer or service provider rewards from their credit card spending.

Retail reward credit cards offer rewards ranging from money off a new car, to free broadband, or to saving money off your weekly shopping bill.

Retail reward credit cards are ideally suited for people who already shop with a particular retailer or use a particular service provider, because it's important you are earning rewards you know you will make good use of.

It's important to remember that retail reward credit cards are not store cards. Because unlike store cards, retail reward credit cards offer the same standard interest rates and fees as any other credit card - making them a much cheaper alternative to store cards.

These cards are not suitable for...

- Wanting no restrictions
If you do not want to be restricted by the type of rewards you are earning on your credit card, you may want to consider a cash back credit card, which offers you exactly that, real cash from your spending.

However, it's important to bear in mind that if a retail reward credit card does offer you rewards that you already use or want to use, you will save more money from the rewards and discounts earned on a retail reward credit card than you would from a cash back credit card.

- A poor credit history
If you know yourself to have a poor credit history, you may want to consider a bad credit rating credit card like the Capital One classic credit card, which helps people with a poor credit history to rebuild and strengthen their credit score.

Knowing what's on offer...

There is a fair range of different retail reward credit cards available, and because each card offers rewards with different retailers or service providers, the actual reward schemes vary too.

It's important to know exactly what is on offer, so that you can choose the retail reward credit card you will get the most from and understand how to use the card to increase the retail rewards you are earning.

- Retailer rewards
Actual retailer reward credit cards work in partnership with a particular retailer and allow you to earn points or rebates that can be redeemed for money off their products and for free products too.

One of the best retail reward credit cards is the GM Card, which allows you to earn a rebate on all your spending that can be accrued towards money off a brand new Vauxhall or Saab car.

The GM Card also offers one of the best pay outs on your spending, offering a huge amount more money off a new Vauxhall or Saab car than you would be able to earn from a cash back credit card.

Other retailer specific reward credit cards include the SonyCard.

The Nectar credit card actually allows you to earn Nectar points on all your credit card spending that can then be added to your current Nectar account and used towards your weekly shopping bill at Sainsbury’s and a whole host of other rewards.

- Service provider rewards
Service provider reward credit cards allow you to earn points that can be redeemed for free services from their company. The AOL credit card, for example, allows you to earn points that can be used to claim free broadband for a month.

- Savings and discounts
Retail reward credit cards offering savings and discounts don't actually require you to earn any points, as you will automatically be given these exclusive savings and discounts just for being a cardholder.

The savings and discounts you'll be awarded with will vary between cards, they can include a range of different retailers and companies or they can be limited to a particular shop.

Retail reward credit cards offering straight-up savings and discounts include the Egg credit card and the Virgin credit card.

- General reward schemes
The final type of retail reward credit cards are those that offer a very general reward scheme, allowing you to earn points that can be redeemed for a range of different rewards including travel, entertainment, shopping vouchers and even cash.

Many MBNA credit cards offer this type of reward scheme, including their MBNA Platinum Rewards credit card, MBNA Rewards American Express credit card and many of their football club affiliated credit cards.

continued...

Compare retail reward credit cards