British Cardholders Embrace Rewards Over APR
About 50% of British consumers prefer a rewards card rather than the 13% who prefer a lower interest rate. A new study found that cashback cards are the most popular type of rewards card. Barclaycard’s “Platinum Cashback Card” was perceived as being the most valuable cash card in the U.K. market offering cardholders 2% cash back on purchases made at petrol stations and supermarkets for life and 0.5% on all other purchases. Auriemma Consulting Group says its research also showed that the majority of reward cards holders (over 60%) find rewards cards to be most valuable when they offer the ability to choose the reward they receive. While only 5% of rewards cardholders have petrol-related benefits, 56% ranked the benefit as highly valuable. Even those not having petrol-based benefits perceived them to be the second most valuable rewards type behind cashback cards. “Citi Shell MasterCard” was perceived as one of the most valuable rewards programs in the market – holders earn up to 6% rebate on fuel purchases.