If you are the member of an existing loyalty card scheme then chances are that you are well accustomed to saving up points which you can easily use at a later date. Although it’s really easy to lose track of exactly how many loyalty card points you have, when you do get a certain amount of points then you can often find that you can exchange them for something good – cash back or items from the retailer.
Using your loyalty card points effectively is a great way to save money and reward yourself at the same time, so if you do enter into a loyalty card scheme it’s worth having a look at the rewards that you can get out of it – and how you can start to spend these points effectively.
What is a loyalty card scheme?
A loyalty card scheme is a scheme that is set up by a business as a way of rewarding repeat customers and encouraging them to continue to shop at the same retailer. Every time you spend on an item you accrue points and in turn these points can be used to redeem vouchers, items or cash back depending on the type of loyalty card scheme that is being run.
Most loyalty card schemes are free to join and don’t cost a penny to keep up membership so for customers they are a way to get something for a spend that they would usually make anyway. This in turn makes them a popular option in a tough economic environment.
What could I get for the points I have saved?
Every loyalty card system has different rewards depending on the amount of points that you have saved and these can range from products to cash back to gift vouchers. Some retailers will even give your points a cash value allowing you to use them to purchase anything in the store of a certain value. This is a popular option as customers can now get items from their weekly shop for free or at a heavily discounted price, thus saving money.