 |
 |
By Mark Lewin
Staff Writer
24 August 2009
|
Money News Roundup
If you only do one thing with your money this week... compare reward schemes
Best for Cashback:American Express Platinum Cashback
Best for Retail Rewards:Nectar Credit Card
Best for Travel Rewards:British Airways Credit Card
Previous Money News Roundups
See our other recent Money News Roundups and other related news stories:
Money News Roundup (14 Aug 09)
A glance back at this week's personal finance news payment protection for debit cards, 20% VAT, HSBC/Barclays impose new charges and why travel insurance is more important now than any other time of year.
Money News Roundup (07 Aug 09)
A glance back at this week's personal finance news: CAB report record numbers of debt cases, savers receive £21 bn in compensation, Barclaycard slash borrowing and recession-proof white shirts.
Money News Roundup (31 July 09)
A glance back at this week's personal finance news: misleading energy bills, disloyal savings providers and consumers chopping up their credit cards.
|
TEENAGE Visa cards, disappearing reward schemes, Barclaycard's new debt help scheme and recession family eating habits in this week's money news roundup.
Sainsbury's Credit Card Reward Scheme Getting Scarce
THE number of credit cards offering rewards schemes has dropped by 11% from last year, according to a survey by Sainsbury's Credit Cards.
Only 66% of cards on the market today offer rewards and incentives compared to 78% last year.
Interestingly, the type of rewards on offer have changed too, with air miles and points being more widely available than cashback and shopping incentives, which were much more in vogue last year.
Clearly consumers are less concerned about rewards - many of which are dressed up to offer more than they give - than the more obvious considerations like low interest rates and annual fees.
Help From Barclaycard is Mixed Blessing
BARCLAYCARD has been boasting of success with its new assistance scheme for credit card holders in difficulty recently.
It claims to have helped over 11,500 customers to date, but sceptics remain unconvinced.
The credit card giant uses sophisticated software to identify customers who are likely to default on payments and then calls them to offer help: from temporarily reduced payments to numbers to call for debt advice.
However, critics of the scheme have pointed out that reduced minimum payments may lead to some customers falling further into debt and balked at Barclaycard's suggestion that rate increases for high risk cardholders later in the year.
Recession Brings Families Together
THE current economic climate might not be good for the wallet but it could be good for family relations, say Oxford academics.
The study - commissioned by Birds Eye and undertaken by sociologists at Oxford University - found that 48% of parents are eating out less often and 25% are trying to make sure that everyone in the family eats the same meal to keep costs down.
Four out of five meals are eaten with the entire household present. This is the same as in the last generation, suggesting that our supposedly hectic lifestyles haven't made that much difference to our family meals.
Double Points on Loyalty Cards
TESCO has re-launched its Clubcard loyalty scheme in a bid to win back lost market share against its rivals.
As the UK's largest supermarket chain, Tesco is the only one of the major multiples to administer its own scheme. For instance, Sainsbury's loyalty scheme is part of the Nectar network, shared by garages and other retail outlets.
'Clubcard 2' as it has been called is offering twice as many points for the same amount spent in-store. Tesco says that this would mean that a family spending £90 in the store would earn £34 in Clubcard vouchers instead of £17.
It all sounds good ... but be wary of being tempted to spend more as a result!
Concern Over Teen Credit Card
TEENAGERS seem to be doing everything earlier these days ... including getting Visa cards!
Mobile phone network O2 has recently launched the "Load & Go" card, targeting teenagers amid much criticism by parents and educators.
However, the card is neither a debit card (which depends on a current account with a positive balance) nor a credit card (which puts you in debt). Instead it's what's known as a 'pre-pay' card, which lets a parent or guardian load money onto the card. This can be done via Internet banking or one of 20,000 pay points.
Once the card has been funded, teens can use it to withdraw cash from an ATM, buy credit for a mobile phone, goods from shops and pay for things online. Every time it's used, O2 sends the card holder a text message so they can keep an eye on the balance.
 Choose Money
Compare Credit Cards
Compare Loans
|
