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"Good and bad points to Barclaycard rewards scheme"

By Reno | April 9th, 2010 | Cash Back & Rewards

In order to remain competitive the credit card giant Barclaycard has recently launched a new credit card rewards scheme that will allow cardholders to earn and redeem rewards points at thousands of different retailers, which means that they will be able to enjoy retail discounts simply for making purchases on their credit cards.

Officials have recently reviewed the new rewards scheme from Barclays, and have highlighted both good and bad points with the scheme, which is called the Barclaycard Freedom scheme.

More than eight million cardholders will be able to enjoy the benefits of the scheme, earning Reward Money from participating retailers. The amount that they have earned will be shown up on card machines when they use their cards to make purchases.

Cardholders will be able to accrue the Rewards Money or can use it towards a new purchase and get a discount. The great thing about the scheme, according to officials, is that there are thirty thousand retailers that are participating, giving consumers plenty of choice with regards to where they accrue their Rewards Money.

An official from Barclaycard said: “The range of retailers in Barclaycard Freedom means that our customers can earn Reward Money when they are shopping on the high street, filling up the car, going out for a meal or shopping online. The simplicity of Barclaycard Freedom means that customers earn Reward Money without the need to do anything extra – they simply use their Barclaycard to make a purchase”

However, officials have said that the downside to having so many retailers participating in the scheme is that consumers may not be able to remember all of the retailers that are participating in the scheme, although Barclays claims that this will be advertising at the point of sale at the various retailers.

Tags: retail discounts, credit card giant, barclaycard, barclays

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