Unclaimed shop loyalty card savings

The spare money you have in unclaimed loyalty card points may not be much but why waste it?

You may well have spare money lying around. Granted it may not be a lot but, well, every little helps. A survey has found that each person in Briton has around 30 pounds of unclaimed savings on shop loyalty cards.

According to the survey most adults in the UK are members of at least one shop loyalty scheme. This is good but apparently people are not always careful about cashing in the rewards. It is estimated that it is possible that there is around 1billion pounds worth of unclaimed rewards. That is an awful lot of cash lying around!

One would expect that women, as opposed to men, would be walking around with plenty of unclaimed points but it is men who average 36 pounds on their cards compared with women who have an average of 22.60 pounds on their cards.

Statistics show that for those who did bother to cash in their loyalty rewards each benefited an average of 47 pounds. 14 percent of card holders state that they have not collected any points so far this year.

Whilst loyalty cards can collect a little money and it is always wise to cash points it should be remembered that there is no point in buying simply to earn loyalty points. This is not saving and is not savvy buying. In general benefits from loyalty cards represent a very small discount and often a large amount of money has to be spent in order to earn a few pounds-worth of rewards. On the other hand, if you do have spare cash lying around from loyalty points it makes perfect sense to cash in.

Remember that loyalty points do expire so check dates and collect before you lose out. You could use the little nest-egg to buy something nice for yourself or the family that you would not have otherwise bought. Happy cashing of loyalty points.