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Reward schemes mean credit cards are 'more than just a borrowing item'

By Sarah Engle, Mon 30 Jun 2008 - Published in Credit Cards

Credit card reward schemes offer "long-term value", according to the head of cards at Sainsbury's.

Donald MacLeod said credit cards which incorporate reward schemes are more than just a "pure borrowing item" as customers are rewarded "with every transaction".

This comes after a survey by Sainsbury's found on average people intend to spend £305.90 during this year's summer sales, with three per cent of those questioned admitting they were planning to spend more than £800.

In comparison to last year's summer sales, 20 per cent said they would be spending less, 63 per cent anticipated spending about the same and eight per cent thought they would probably end up shelling out more.

Approximately 42 per cent of money spent during the summer sales will be placed on credit cards, with people in the south-east look set to spend more than any other region.